Closing the month with receivables already applied

The Problem: Why This Matters to Finance Teams

For B2B finance teams, closing the month with an accurate and up-to-date aging report is crucial. Yet, often the close is delayed because deposits from the final week remain unapplied. This not only skews aging reports but also creates repetitive work cycles, as unresolved issues reappear each month. Finance teams need a solution that ensures deposits are promptly and correctly applied, preventing delays and inaccuracies that can impact financial decision-making.

Current Industry Approaches and Their Limitations

Most providers in the accounts receivable space focus on basic automation tools, relying on simple matching algorithms that often fall short. These systems may automatically apply payments based on minimal criteria, leading to mismatches or require extensive manual intervention. Such approaches leave finance teams with long lists of unapplied cash and unresolved queries, obstructing a smooth close. The lack of transparency in these processes further complicates matters, as finance teams struggle to understand why certain matches are made or left unprocessed.

ARPilot's Unique Approach

ARPilot tackles these challenges head-on with an AI-driven platform designed to optimize the invoice-to-cash cycle. By applying payments to invoices automatically at a 0.95 confidence level, ARPilot minimizes unapplied cash at month-end. Payments that match with lower confidence are queued for review, complete with ranked candidates and detailed scoring reasons. This ensures that finance teams can focus on resolving clear exceptions rather than wading through raw data, resulting in a more efficient and transparent month-end close.

Key Benefits and Measurable Outcomes

With ARPilot, finance teams experience a significant reduction in unapplied cash by the close of the month. The platform's advanced AI matching capabilities ensure that payments are applied accurately, providing an aging report that is correct from day one. Exceptions are not only minimized but also come with explanations, allowing teams to address issues swiftly and confidently. This leads to consistent and reliable financial reporting, empowering better strategic decisions.

FAQ

How does ARPilot ensure accurate payment application?

ARPilot employs AI-driven matching algorithms that apply payments automatically when confidence levels reach 0.95 or higher. Lower confidence matches are reviewed by finance teams, ensuring accuracy and transparency.

What happens to payments with a confidence level below 0.70?

Payments with a confidence level below 0.70 remain unmatched. This approach ensures that only well-supported matches are applied, reducing errors and enhancing the reliability of financial data.

Can ARPilot integrate with our existing accounting systems?

Yes, ARPilot syncs bidirectionally with QuickBooks Online and connects with other systems via REST API, CSV import, or custom adapter under an Enterprise agreement, making it adaptable to your existing infrastructure.

How does ARPilot handle customer disputes during the invoice-to-cash cycle?

ARPilot's dispute intake feature pauses collections on affected invoices, giving finance teams the opportunity to resolve issues before proceeding, which maintains positive customer relationships and operational efficiency.

What is the pricing model for ARPilot?

ARPilot offers a flexible pricing model with a free tier for up to 10 invoices monthly, a Starter package at $99 per month, and a Professional package at $299 per month with API access. Enterprise solutions are available through negotiated agreements, with annual billing offering approximately two months free. Payment-plan volume incurs a basis-points fee.