What to do when the check is always in the mail

The Problem

For B2B finance teams, dealing with customers who constantly delay payments can disrupt cash flow and create unnecessary stress. When promises to pay on a specific date are not documented, and follow-ups aren't systematically scheduled, finance teams may find themselves in an endless loop of reminders and excuses. This can lead to a chaotic invoicing process, where unpaid invoices linger and customer relationships become strained. It's crucial for these teams to have a reliable system in place to track promises and ensure follow-ups occur promptly.

How Most Providers Handle It Today

In the current landscape, many accounts receivable solutions offer limited features for tracking payment promises. Typically, these systems lack the capability to automatically record promises and schedule follow-ups, leaving finance teams to manually track and follow up on overdue payments. This manual process is not only time-consuming but also prone to human error, leading to missed follow-ups and unrecorded promises. As a result, finance teams are often left dealing with frustrated customers and unresolved disputes, impacting both cash flow and customer satisfaction.

ARPilot's Approach

ARPilot addresses this issue directly by recording promised payment dates against the invoice and scheduling follow-ups for the day after the promised date. This ensures that any broken promises are immediately identified and addressed, allowing finance teams to maintain control over the invoicing process. Unlike other providers, ARPilot integrates this capability seamlessly into its AI-driven platform, offering a comprehensive solution that includes multi-channel outreach, payment plans, and dispute management. By sitting alongside existing accounting systems like QuickBooks Online, ARPilot provides a robust, integrated approach to managing accounts receivable.

Key Benefits and Measurable Outcomes

• Promises Documented: Every promised payment date is recorded against the invoice, ensuring that finance teams have a clear record of what was promised and when.
• Automated Follow-Ups: Follow-ups are scheduled automatically for the day after the promised date, ensuring that broken promises are addressed promptly and systematically.
• Pattern Recognition: ARPilot provides visibility into patterns of repeated delays, helping finance teams identify customers who consistently delay payments.
• Improved Cash Flow: By ensuring timely follow-ups and addressing broken promises promptly, ARPilot helps finance teams maintain control over cash flow and reduce outstanding invoices.
• Enhanced Customer Relationships: With a systematic approach to managing promises and follow-ups, finance teams can maintain professional customer relationships and resolve disputes efficiently.

FAQ

How does ARPilot ensure that promised payment dates are recorded accurately?

ARPilot integrates with your existing accounting system, recording promised payment dates directly against each invoice. This ensures that every promise is documented systematically, reducing the risk of missed follow-ups.

What happens if a promised payment date is missed?

If a promised payment date is missed, ARPilot automatically schedules a follow-up for the day after, ensuring that broken promises are addressed promptly and do not go unnoticed.

Can ARPilot identify patterns of delayed payments?

Yes, ARPilot provides visibility into patterns of repeated delays, allowing finance teams to identify customers who consistently delay payments and address these issues proactively.

How does ARPilot integrate with existing accounting systems like QuickBooks Online?

ARPilot syncs bidirectionally with QuickBooks Online, meaning it can both pull data from and push updates to your accounting system. This ensures that all records are up-to-date and consistent across platforms.

Is ARPilot suitable for companies with a large volume of invoices?

Absolutely. ARPilot is designed to handle companies invoicing from a few dozen to thousands of invoices per month, making it a scalable solution for businesses of all sizes.