Is it worth offering a payment plan to a customer who cannot pay?

The Problem: Why This Matters

For B2B finance teams, dealing with customers who are unable to pay invoices in full can be a persistent challenge. When customers express their inability to pay the entire amount due, businesses face a dilemma: refuse the payment plan and risk a lengthy non-payment period or agree informally and struggle with tracking inconsistent payments. This situation not only affects cash flow but can strain customer relationships and lead to disputes. Without a structured approach, businesses risk losing revenue and damaging their reputation.

How Most Providers Handle It Today

In the current landscape, most accounts receivable providers either lack the functionality to support automated payment plans or offer limited solutions that require extensive manual intervention. Typically, businesses might negotiate payment terms verbally, which leads to informal agreements that depend on both parties remembering payment dates. This approach often results in missed payments, inconsistent cash flow, and a lack of accountability, making it difficult for finance teams to manage their accounts effectively.

ARPilot's Approach: Solving the Problem Differently

ARPilot revolutionizes the way B2B finance teams manage customers who cannot pay in full by offering an AI-driven platform that automates the entire payment plan process. Customers can self-enroll in a payment plan through a secure link, selecting terms that work for them. Once enrolled, the system automatically charges the agreed installments to the customer's card or bank account on the specified dates. This structured approach eliminates the need for manual tracking, ensuring payments are made consistently and reducing the administrative burden on finance teams.

Key Benefits and Measurable Outcomes

1. Consistent Recovery: Instead of facing a stalemate with non-paying customers, businesses can recover a portion of the outstanding balance through structured payment plans, improving cash flow predictability.

1. Automated Installments: With ARPilot, installments charge automatically on agreed dates, eliminating the risk of human error and ensuring timely payments.

1. Written Agreements: Customers enter into a formal agreement, reducing misunderstandings and providing a clear record of the payment terms.

1. Reduced Administrative Burden: The automation of payment plans frees finance teams from the manual task of tracking and following up on payments, allowing them to focus on more strategic activities.

1. Improved Customer Relationships: By offering flexible payment options, businesses demonstrate a willingness to work with customers, fostering loyalty and long-term partnerships.

FAQ

Q: How does ARPilot ensure that payment plans are honored by customers?

ARPilot allows customers to self-enroll in payment plans via a secure link. Once enrolled, installments are automatically charged to the customer's card or bank account on the agreed dates, ensuring compliance with the payment terms without manual intervention.

Q: Can ARPilot integrate with our existing accounting system?

Yes, ARPilot integrates seamlessly with QuickBooks Online through bidirectional syncing. Other systems can connect via REST API, CSV import, or a custom adapter as part of an Enterprise agreement.

Q: What happens if a customer raises a dispute about an invoice during a payment plan?

If a dispute arises, ARPilot's platform pauses collections on the affected invoice, allowing for resolution before proceeding with further actions. This ensures that customer concerns are addressed promptly and professionally.

Q: Is there a trial period available for ARPilot?

ARPilot offers a free tier for up to 10 invoices per month, allowing businesses to experience the platform's capabilities before committing to a paid plan. This provides an opportunity to evaluate the benefits and suitability of the solution for your needs.