Accounts receivable (AR) automation software is a cloud-based solution that helps businesses automate their A/R processes.
This can free up staff time to focus on other tasks, improve cash flow management, and reduce the risk of late payments.
There are many A/R automation software solutions available in Nigeria, each with its strengths and weaknesses. Here are some of the best options:
Bridger: Bridger is a leading provider of A/R automation software and Invoice financing in Nigeria.
Its solution offers a wide range of features, including e-invoicing, credit assessment, collections, B2B payments locally and Internationally, alongside Invoice financing.
Bridger also offers a variety of add-ons, such as reconciling incoming payments and invoices, a customer payment portal.
Bridger is also known for its ability to scale to meet the needs of growing businesses.
Churpy: Churpy is another good A/R automation software solution. It automates the processes of reconciling incoming payments and invoices.
It gives businesses real-time statements and transaction data that can be used to reconcile pending invoices from enterprise resource planning systems (ERPs).
Billtrust: Billtrust is a cloud-based payment management platform that offers AR automation features. Its solution can help businesses streamline their payment processes, improve cash flow, and reduce fraud. Billtrust also offers a variety of payment options, including credit cards, ACH, and wire transfers.
Versapay: Versapay is a cloud-based AR automation software solution that offers a variety of features, including invoicing, credit management, collections, and reporting. Versapay is also known for its ability to scale to meet the needs of growing businesses.
Quadient AR — by YayPay: Quadient AR is a cloud-based AR automation software solution that offers a variety of features, including invoicing, credit management, collections, and reporting. Quadient AR is also known for its ability to integrate with other business applications, such as CRM and ERP systems.
When choosing an AR automation software solution, it is important to consider the following factors:
- The size and complexity of your business
- The features you need
- Your budget
- Your level of technical expertise
It is also important to get quotes from multiple vendors before making a decision.
A/R automation software can be a valuable tool for businesses of all sizes.
By automating your A/R processes, you can free up staff time, improve cash flow management, and reduce the risk of late payments.
Here are some of the benefits of using AR automation software:
- Increased efficiency: AR automation software can help you automate time-consuming tasks, such as invoicing, credit assessment, and collections. This can free up your staff time to focus on other tasks, such as sales and marketing.
- Improved cash flow management: AR automation software can help you track your receivables and identify overdue payments. This can help you to collect payments more quickly and improve your cash flow.
- Reduced risk of late payments: AR automation software can help you send automated reminders to customers who are overdue on payments. This can help to reduce the risk of late payments and improve your credit score.
- Better customer service: AR automation software can help you to provide better customer service by providing your buyers with a self-service portal to view their invoices and make payments.
If you are looking for a way to improve your AR processes, then AR automation software is a great option. There are different AR automation software solutions available in Nigeria, so you can find one that meets your specific needs and budget.