Posted by Apxium
Topics: Invoicing, Debtor Management, Accounts Receivable, Business Tips

Why You Need to Automate Your Accounts Receivable

For many people working in businesses, day-to-day activities take far longer than they should. Menial tasks become huge stress points, and you can find yourself spending more and more time after hours tending to items that were pushed aside due to these irritating jobs.

But what is to be done about it? How can you find more time in your day?

Well, the answer isn't trying to squeeze 25 hours into a 24 hour day. The answer is automating your accounts receivable processes.

In today's day and age, technology and innovation have sparked a technological revolution in the world of finance. So, why not take advantage of it?

Rather than spending hours upon hours bent over a computer or phone, you can streamline your operations so you have more time to spend on the things that matter.

Reduce your Debtor Days

As many know, from the time you finalise your invoice, the accounts receivable process can be an incredibly long, drawn-out series of tasks. You might have to print out your invoice, mail them or spend additional funds hiring a printing shop to do that for you. By the end of it, you often have used up a lot of funds that you haven't even recouped from your debtors yet.

On top of that is chasing up your debtors for payment. Not only is this incredibly frustrating - it takes valuable time out of your day and so infrequently gets you the result that you want; a quick, stress-free payment.

However, by using automated accounts receivable software, you can significantly reduce the amount of time you spend on following up with your debtors.

Automated accounts receivable platforms can send out finalised invoices online, bringing your systems onto the cloud. From there, you can easily track and follow up with your clients, seeing who has received what and when. Online systems also give you the ability to handle online payments, making life easier for both your customers as well as yourself.

With an automatic accounts receivable software solution like Apxium, you can even send your invoices automatically via SMS. And, to sweeten the pot, Apxium will then settle your online transactions, reconciling them in your accounting software so you don't have to.

Lessen Your Admin Time

When your accounts receivable processes are offline, you can quickly find yourself drowning in a sea of paperwork and confusion. Who followed up with whom? Has your client called you back, or were you supposed to contact them? The whole process can easily become a daily nightmare.

Yet, with automatic accounts receivable, that nightmare swiftly transforms into something far simpler.

By keeping all documents and records online, you can keep far better track of your goings on. Your invoices can go out faster, the payments can come in quicker and you can work more efficiently than ever before.

With Apxium, each communication you send to your client contains a click-through link where your clients are able to then pay immediately online via credit card or through their bank account via our secure online payment gateway. And, with our automatic reconciliation, the time you spent on admin and chasing up clients is soon free to be allocated elsewhere.

So, isn't it time that you take a step into the future and take advantage of the many benefits the FinTech revolution is unveiling?

If you would like to learn more about the benefits of automated accounts receivable, you can do so here. Or, if you'd like to learn more about how Apxium can help your business, feel free to explore this helpful article.

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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.