How soon after the due date should you chase an invoice?

The Problem: Why This Matters

For B2B finance teams, deciding when to chase overdue invoices is a delicate balancing act. Wait too long, and the email is buried in the recipient's inbox, forgotten amid more pressing matters. Pursue too early, and you risk damaging the client relationship by appearing impatient or aggressive. The result is often a reactive approach where overdue invoices accumulate, leading to cash flow challenges. For businesses invoicing on terms, from a few dozen invoices monthly to thousands, a proactive and strategic approach to collections is essential.

How Most Providers Handle It Today

Many providers in the accounts receivable space offer solutions that either automate follow-ups indiscriminately or leave the entire process to manual intervention. These tools often lack the nuance required to balance timely follow-up with maintaining positive customer relationships. Automation without oversight can lead to inappropriate or poorly timed communications, while manual processes are prone to human error and inconsistency, often resulting in delayed payments and strained client interactions.

ARPilot's Approach: How It Solves the Problem Differently

ARPilot offers a unique solution by integrating AI-driven automation with essential human oversight. The platform initiates invoice follow-ups before the due date and continues at predetermined intervals post-due date, effectively removing the guesswork from the follow-up process. Every message drafted by ARPilot's AI is queued for human approval, ensuring that communications are both timely and considerate of customer relationships. The system halts outreach the moment an invoice is marked as paid, preventing unnecessary follow-up and respecting customer commitments.

Key Benefits and Measurable Outcomes

1. Proactive Follow-up: ARPilot's approach ensures that follow-ups begin before the invoice is due and continue at optimal intervals, increasing the likelihood of timely payments.

1. Human Oversight: Every communication requires human approval, preserving the quality of customer interactions and reducing the risk of inappropriate messaging.

1. Automated Payment Matching: With high-confidence automatic payment matching, finance teams can focus on exceptions, ensuring efficient and accurate cash application.

1. Consistent Coverage: The platform provides consistent attention to all invoices, not just those from the loudest accounts, improving overall cash flow management.

1. Scalable Solution: Designed for companies of all sizes, ARPilot accommodates businesses with varying invoice volumes, from a few dozen to thousands per month.

FAQ

1. How soon should I start chasing an invoice with ARPilot?

ARPilot initiates the follow-up process before the invoice is due, continuing at set intervals after the due date. This proactive approach ensures that you are engaging with your customers at the right times, maximizing the chance of timely payment.

2. What makes ARPilot's follow-up process different from other providers?

Unlike other systems that either automate indiscriminately or rely on manual processes, ARPilot combines AI-driven automation with necessary human approval for each customer-facing action, ensuring thoughtful and effective communication.

3. How does ARPilot handle payment matching?

Payments arriving in the bank are automatically matched against open invoices if they meet a high confidence threshold. For matches with lower confidence, ARPilot queues them for human review, providing ranked candidates and reasons for each score.

4. Can ARPilot integrate with my current accounting system?

Yes, ARPilot offers seamless integration with QuickBooks Online through bidirectional sync and can connect with other systems via REST API, CSV import, or a custom adapter under an Enterprise agreement.

5. What pricing options does ARPilot offer?

ARPilot provides a free tier for up to 10 invoices a month, with paid plans starting at $99 per month. The Professional plan at $299 per month includes API access, and Enterprise solutions are available with negotiated SLAs. Annual billing provides approximately two months free.