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Do you love the idea of reducing overheads, decreasing debtor days, lowering credit card charges, offering online payment from a nominated bank account and increasing your cash flow? Do you want to streamline your accounts receivable process for the best results? If so, you’re ready for the next step: find out what it will take to implement Apxium in your business.

To answer your questions, we’ve written up this short guide to help you understand how to get started with Apxium.

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Is Apxium Right for My Business?

Apxium’s payment gateway, online invoice accounts receivable solution might sound like a dream come true, but how do you know if Apxium is right for your business?

Apxium customers work in all types of industries, but they all have a few things in common:

  • Invoiced Billing: Businesses who choose Apxium rely on invoiced billing instead of a point of sale (POS) solution. Our customers are in every kind of business, from trade to services to finance, but they run their businesses with invoiced billing.

    Customers who use Apxium work in:

    • Property Management

    • Finance

    • SME & general trade

    • Accounting, Legal and other Professional Services

    • Education

    • Membership Services

  • Accounting Software: Apxium integrates seamlessly with modern cloud-based accounting software packages like Xero and MYOB cloud. Do you use a different accounting system? Apxium also offers support for a variety of other server-based accounting systems, and can work with you to integrate Apxium into your existing system.

  • Credit & Debit Payments: Apxium’s secure, online payment gateway helps your customers pay you more easily by accepting major credit cards and also facilitating debit transactions from any nominated bank account. Would you like to accept credit cards but are finding it hard to justify the costs? Apxium’s competitive rates will help keep your customers happy. Do you have customers who have multiple bills owing? No problem. Apxium can be set up so that customers are able to settle multiple bills at once with one payment. Better still, Apxium will reconcile the payment amount across all of their accounts, so your accounting records are kept clean and up-to-date.

  • Client Debtors: With Apxium, your debtor management and customer billing communications are automated. That means no more printed invoices, no email chains, and no more follow up calls. Just approve each invoice and Apxium steps in, automatically sending out an email or SMS text message that includes a link to the payment gateway. Apxium even keeps track of outstanding invoices and sends out reminders, so you don’t have to.

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Will My Accounting System Work with Apxium?

Apxium integrates into your accounting system to keep track of the payment status and aging of your invoices. With Apxium, your accounts receivable will be automatically updated each time your client settles an invoice via your payment gateway. Apxium also sends out your prepared invoices and tracks your customers' payment history. Apxium will even send out tax compliant payment receipts for your client’s records.

How do you know if your accounting system will work with Apxium?

Apxium was designed to work with cloud-based accounting platforms like Xero and MYOB Cloud.

As developer partners and former finance and banking professionals, we built Apxium from the ground up to help small and medium sized businesses manage their accounts receivable more effectively. With a click of a button and an authorisation, Apxium will begin working immediately. There’s no software to install or back-end settings to manipulate. It really is that easy.

For businesses who aren’t using Xero and MYOB cloud, there’s good news. Apxium works with many different server-based accounting platforms and we’re offering new platforms every day. To find out if Apxium will integrate with your accounting software, reach out to us today.

But who do you turn to if things don’t work the way you expect them to? Don’t worry. Apxium is dedicated to helping your business run better. If you experience an issue or need to contact support, you can do so here. Our team will be happy to assist.

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What Does Apxium Do?

With Apxium, your whole accounts receivable process becomes automated. Once your accounts person prepares and authorises an invoice, Apxium steps in to communicate, take payment, and follow up on your outstanding statements. Customers will be able to make their payments on your customised, online payment gateway. Your customers will be able to pay via credit card or via direct debit from a nominated bank account. Apxium’s unique, paperless direct debit service can facilitate a single, one-off payment or an entire schedule of payments to satisfy amounts owed via instalments. You and your business get to decide whether payment via instalment is offered on a debtor by debtor basis. Payments made through your gateway will be written back into your accounting system, a receipt to your customer will be issued, and your bank records will reflect the transaction number.

The Apxium debtor dashboard has an inbuilt, virtual POS terminal that allows you to take payments over the phone or in person.

Apxium can eliminate the need for printing & postage fees with its automatic invoice emails and SMS text messages. Late and past due invoices are followed up with reminder communications that escalate according to your preferences, reducing the need to spend hours chasing down the person responsible for payment.

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Will Apxium Impact My Bottom Line?

Are you spending more time chasing money than making it? Do you make multiple deposits every month, or have to let customers know you don’t take credit cards? Do you spend hours every month reconciling your client’s payments by hand? Apxium eliminates these everyday frustrations and streamlines your entire accounts receivable process.

Apxium makes your bookkeeping more efficient in 4 key ways: 

  • Invoices go out faster
  • Payments come in quicker
  • Accounts payments are always identified are reconciled automatically
  • Journal entries are fully automated

Apxium works by integrating into your accounting package to automatically detect authorised and outstanding invoices. Via the Apxium hosted client portal, your customers can see their outstanding balance and their payment history so they can easily track what they owe. This visibility and the ease of payment reduces debtor days and evens out your cash flow.

Customer’s credit card transactions are approved in real time, so there’s no need to deal with cancelled checks or their bank fees. The Apxium system also comes with an inbuilt virtual POS terminal to enable over the phone or in person payments.

This means you can save money by handing back your expensive POS terminal.

Once your customer pays, Apxium issues a receipt and reconciles the invoice with transaction numbers. You’ll see your payments on your bank activity the next day, along with the transaction number.

All these automated A/R services combine to even out cash flow, reduce labour hours, lower bank and credit card fees, and lower bad debts.

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Still not sure if Apxium is right for you?

Take a look at Apxium's features and contact us with any questions. Our sales team is happy to answer any questions you have about Apxium and how it will work with your accounting system to manage A/R more efficiently.

Would you like to learn more about Apxium and how we can help your business? If so, click here.

Learn more: 

Discover How You Can Reduce Your Debtor Days Through an Online Invoice

Request a Free Demo of Apxium's Accounts Receivable Dashboard

Discover How an Automated Accounts Receivable Solution can Help You

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