Sending monthly customer statements that actually get reconciled

The Problem

In the world of B2B finance, monthly customer statements often become just another document in the accounts payable file, rarely prompting action. This is problematic because finance teams rely on these statements to provide a clear picture of outstanding balances and to prompt timely payments. When these statements are inaccurate due to unapplied payments, it results in disputes that are quickly disproven by customers, delaying the payment process further. Therefore, ensuring the accuracy of these statements before they reach customers is critical to maintaining healthy cash flow and customer relationships.

How Most Providers Handle It Today (And Why It Falls Short)

Typically, providers in the accounts receivable space send out monthly statements as standalone documents, without first ensuring that all cash is applied from bank transactions to outstanding invoices. This leads to inaccuracies where the statement balances don't match the customer's records. When customers receive incorrect statements, they are less likely to act, and disputes arise, taking up valuable time and resources from finance teams who must then manually reconcile these discrepancies. Additionally, responses from customers are often buried in inboxes, disconnected from the account history, making it difficult to manage and track communications effectively.

This Company's Approach -- How It Solves the Problem Differently

ARPilot differentiates itself by integrating cash application directly from bank feeds before statements are sent out. This proactive approach ensures that every statement reflects accurate balances, reducing the likelihood of disputes. The platform's AI-driven system prepares a comprehensive sequence for each statement, complete with payment links and a human approval step ensuring customer communication integrity. Replies from customers are automatically threaded back onto the account timeline, providing finance teams with a clear, organized view of all interactions and allowing for more effective follow-up.

Key Benefits and Measurable Outcomes

By leveraging ARPilot's comprehensive platform, finance teams can expect several tangible benefits:

• Accurate Balances: Automated cash application reduces errors, ensuring that statement balances survive customer scrutiny.
• Actionable Statements: Statements include payment links, prompting immediate customer action.
• Streamlined Communication: Customer replies are integrated into the account timeline, providing a centralized view of all interactions.
• Improved Cash Flow: Consistent and accurate statements lead to faster payments and reduced days sales outstanding (DSO).
• Efficient Resource Utilization: By minimizing disputes and manual reconciliation, finance teams can focus on more strategic tasks.

FAQ

How does ARPilot ensure statement accuracy?

ARPilot automatically applies payments from bank feeds to open invoices before statements are issued, ensuring that all balances are up-to-date and accurate.

What happens if a customer disputes a statement?

The system pauses collections on disputed invoices and integrates customer replies into the account timeline, facilitating quick resolution and communication.

Can ARPilot integrate with our existing accounting software?

Yes, ARPilot syncs bidirectionally with QuickBooks Online and can connect to other systems via REST API, CSV import, or a custom adapter.

Is there a free trial available for ARPilot?

ARPilot offers a free tier for managing up to 10 invoices per month, allowing teams to experience the platform's capabilities before committing to a paid plan.

How quickly can we implement ARPilot in our company?

Most teams can get started within days by connecting their QuickBooks account, thanks to ARPilot's self-serve signup and straightforward integration process.