How long should you keep chasing an unpaid invoice?

The Problem: Why This Matters

For B2B finance teams, chasing unpaid invoices is a delicate balancing act. On one hand, extending credit terms is essential for maintaining customer relationships and facilitating business growth. On the other, prolonged unpaid invoices can strain cash flow and disrupt financial planning. The absence of a clear stopping point in pursuing these invoices often leads to either prematurely writing them off or exhausting resources in prolonged follow-up attempts. This inconsistency can result in lost revenue and strained customer interactions.

How Most Providers Handle It Today

In the current landscape, many providers offer basic reminder systems that automate follow-up emails or notifications. However, these systems typically lack a defined endpoint, leading to either excessive chasing or premature cessation of follow-up efforts. They often operate on a one-size-fits-all basis, without considering the nuances of each customer relationship or past response history. This can lead to inefficiencies, with finance teams either overextending efforts on unresponsive accounts or neglecting those that might pay with a bit more persistence.

ARPilot's Approach: A Different Solution

ARPilot addresses these challenges by offering a structured, AI-driven approach to invoice chasing. The platform defines a specific follow-up sequence with a clear endpoint, ensuring that each customer receives a consistent level of attention. ARPilot's AI analyzes past customer interactions to determine the optimal timing and content for follow-up communications, which are then queued for human approval before sending. This approach not only standardizes the effort across all accounts but also provides a complete record of all interactions, ready for escalation if needed.

Key Benefits and Measurable Outcomes

With ARPilot, finance teams benefit from a systematic follow-up process that enhances cash flow management and customer relations. Key outcomes include:

• Consistent Effort Across Accounts: Every customer receives the same level of attention, reducing the risk of biased or inconsistent follow-up.
• Defined Endpoint: The follow-up process includes a specific stopping point, preventing wasted resources on unlikely collections.
• Comprehensive Communication Record: A full history of interactions is maintained, invaluable for potential escalation or dispute resolution.
• Enhanced Cash Flow: By optimizing the timing and content of follow-ups, ARPilot increases the likelihood of on-time payments, improving financial stability.

FAQ

How does ARPilot determine when to stop chasing an invoice?

ARPilot uses AI to establish a predetermined follow-up sequence based on past customer behavior and industry best practices. This sequence includes a defined endpoint, ensuring effort is applied consistently and efficiently.

What happens if a customer raises a dispute during the follow-up process?

If a customer raises a dispute, ARPilot automatically pauses follow-up activities on the affected invoice and flags it for human review, ensuring that the issue is addressed before further action is taken.

Can the follow-up sequence be customized for different customers?

Yes, while ARPilot provides a standardized sequence, it can be tailored to accommodate different customer profiles and response histories, allowing for a personalized approach where needed.

How does ARPilot integrate with existing accounting systems?

ARPilot integrates seamlessly with QuickBooks Online through bidirectional syncing. Other systems can connect via REST API, CSV import, or custom adapters under an Enterprise agreement.

What are the pricing options for ARPilot's services?

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