Posted by Apxium
Topics: Invoicing, Accounting Software, Online Payment Gateway

Apxium Integrated Accounts Receivable

Do you feel as though you don’t have enough time to do essential tasks? Do you find yourself staying late at work just to get by? Frustrated by slow systems and late-paying clients?

For merchants, cash flow and streamlined systems are vital to the success of your operations. Not to mention your stress levels and work-life balance.

But what can be done about it?

Apxium’s Managing Director, Jeremy Coombe, and Executive Director, Simon Kewell, discuss all things Apxium and how it can work for your business.

Labelled as a smart gateway system, Apxium’s integrated accounts receivable and payment system is smart enough to send SMS and email notifications to payors and return all the data back into the your accounting system. “All we are doing is collecting the payments for, and on behalf of an accountant or merchant,” says Simon.

There are a number of major differences between our end-to-end fully integrated system and the market.

Rest assured, the Apxium system does not handle any money or access any unnecessary information from your account. “We do not hold onto client funds,” says Jeremy, “all payments go directly from your client's account to your account.” And, the system only captures information from invoices that have been approved and authorised for payment, so you don’t have to worry about unfinished invoices being sent to clients.

Speaking of security, what about all that private bank and client information? “We host it with Australian domiciled specialist cloud service providers. We use some of the highest‑level encryption and IP‑secure access.” The Apxium payment gateway is PCI compliant as per the standards set out by the Payment Card Industry Security Standards Council.

In terms of benefits for business, there’s the obvious time benefits where invoice data is automatically entered into your cloud system, and no need to chase clients up personally for payment. But what about the cost benefits? Naturally, there is some cost associated with using the software, so how does the return outweigh this?

“There's reduced mail costs,” details Jeremy, “The admin time associated with chasing your receivables. That's staff overhead reduction and visibility in reporting. The consistency and visibility of process will drive improved receivable outcomes, which means better cash flow.”

“We can demonstrate that our system is cheaper on price, and has significantly more functionality than any other payment gateway solution out there in the marketplace,” adds Simon.

There will be somewhere between one and three percent bottom line savings.

"The establishment process is very simple and quick, and depending on the accounting software in question, the system can be up and running in just a few days."

Apxium works with most cloud-based accounting systems, such as Xero and MYOB, as well as a number of server-based platforms such as MYOB AE and Reckon APS.

Many of the people involved with Apxium have a strong background in banking, which means they are also able to deliver lower rates for merchants than what they may have negotiated with their bank. “Most of the parties within Apxium come from a banking background so we've managed to negotiate wholesale rates,” explains Jeremy.

So then who is Apxium for? The team explain that the software is best suited to merchants who solely deal with clients via invoicing, as opposed to retail based merchants who receive payment at the point of sale. This includes professionals like property managers, lawyers, engineers, accountants, etc., where they can increase visibility of invoices and streamline operational challenges.

As an overall function, Jeremy explains that Apxium is “more like a financial service provider. It's the glue that helps facilitate interactions between merchants and their customers. We've got a unique skill and solution set. We understand the challenges. We really can deliver some pretty unique solutions.”

Want to learn more about how Apxium can help you? If so, you can find more information here. Otherwise, see Apxium live and in action by signing up for a free demo.

See Apxium In Action With A Free Demo
Discover How We Help You
Apxium is a truly online system, offering an end-to-end solution to invoicing, accepting payment and reconciling accounts receivable. Apxium’s innovative online payment gateway and automated A/R software addresses every stage of your accounts receivable process. Apxium is a development partner of Xero and MYOB and has been designed to seamlessly integrate with these leading cloud-based accounting packages. We bring the cloud to Server Based Software.