Collections for equipment rental and field service businesses

The Problem: Why This Matters

In the equipment rental and field service sectors, businesses often issue numerous small invoices for services such as rental periods, delivery charges, and damage repair. The challenge arises when customers perceive these as a collective balance, postponing payments until a convenient time. This perception can lead to inconsistent cash flow, as businesses must wait for customers to settle their accounts, potentially impacting operational efficiency and financial stability.

How Most Providers Handle It Today

Most providers in this industry rely on generic invoicing solutions that lack the specificity needed for equipment rental and field service businesses. These solutions often involve manual follow-ups, which can be inconsistent and time-consuming. Additionally, they typically offer limited options for customers to pay multiple invoices at once, causing further delays. This lack of tailored solutions results in a fragmented approach to collections, leaving businesses with delayed payments and increased administrative burdens.

ARPilot's Approach: Solving the Problem Differently

ARPilot offers a specialized solution that addresses the unique invoicing challenges faced by equipment rental and field service businesses. Our AI-driven platform automates the follow-up process on a per-invoice basis, ensuring reliable and timely collections. Customers receive payment links that allow them to easily settle multiple invoices with a single transaction. Behind the scenes, our transparent matching algorithm accurately allocates lump-sum payments to the correct invoices by evaluating amount, date, payer name, and reference data. This approach not only simplifies the payment process for customers but also ensures that businesses maintain a clear and accurate aging picture.

Key Benefits and Measurable Outcomes

1. Reliability in Collections: ARPilot ensures that both small and large invoices are chased with equal rigor, reducing delays in payments and improving cash flow consistency.

1. Customer Convenience: By offering payment links for clearing multiple invoices simultaneously, we enhance the customer experience and encourage timely settlements.

1. Efficient Payment Matching: Our published matching rubric offers transparency and accuracy, minimizing the manual workload associated with reconciling lump-sum payments.

1. Improved Financial Health: With more reliable cash flow and reduced administrative effort, businesses can focus on growth and service improvement, rather than chasing overdue payments.

FAQ

How does ARPilot handle batch payments from customers?

ARPilot provides customers with a payment link that allows them to pay off multiple invoices in one transaction. Our advanced matching system then allocates the payment to the appropriate invoices based on amount, date, payer name, and reference.

Can ARPilot integrate with our existing accounting system?

Yes, ARPilot can integrate with your existing accounting system. QuickBooks Online users benefit from bidirectional syncing, while others can connect through our REST API, CSV import, or a custom adapter under an Enterprise agreement.

What makes ARPilot different from other collections solutions?

ARPilot combines AI-driven automation with human oversight, ensuring that every customer interaction is approved before sending. Our platform covers the entire cash cycle, not just invoice reminders, providing a comprehensive solution that most competitors lack.

Is ARPilot suitable for businesses with a high volume of small invoices?

Absolutely. ARPilot is designed to handle businesses invoicing on terms, from a few dozen invoices a month to thousands, making it ideal for those with a high volume of small, recurring invoices.

What are the pricing options for ARPilot?

ARPilot offers a free tier for up to 10 invoices a month, a Starter plan at $99 per month, a Professional plan at $299 per month with API access, and custom Enterprise agreements. Annual billing options provide about two months free.