Accounts receivable software is vital for businesses looking to optimize their financial processes.
It automates and streamlines the management of outstanding invoices, payments, and customer communications. This ensures faster collections and better cash flow.
For B2B SaaS companies, efficient accounts receivable management is crucial for financial stability and growth. This is because they operate on recurring billing and complex subscription models.
However, managing accounts receivables effectively can be challenging. Issues like delayed payments, manual errors, and lack of visibility into outstanding invoices can lead to cash flow bottlenecks.
These challenges can disrupt operations and hinder growth for subscription-based businesses that rely on predictable revenue streams.
This is where accounts receivable software proves invaluable. Accounts receivable software solutions offer automation, robust reporting, and seamless integrations with financial systems to address these pain points.
In this article, we’ll explore 13 top accounts receivable software solutions to meet the unique needs of modern businesses.
Navigating the landscape of accounts receivable software can be overwhelming. To help you out, we’ve curated a comprehensive list of the top 13 accounts receivable software solutions.
Image via Younium
Younium is a purpose-built solution for subscription-based businesses, particularly B2B SaaS companies.
It combines robust subscription management capabilities with advanced accounts receivable features, making it an all-in-one platform for managing complex financial processes.
Designed to cater to the unique needs of B2B SaaS companies, Younium offers a tailored approach to invoicing, payment collection, and AR workflows.
What sets Younium apart is its commitment to continuous improvement, evidenced by its 2024 updates to the accounts receivable function. These updates improve automation, customization, and compliance features, helping businesses streamline AR processes and reduce payment timelines.
Younium’s flexible features are ideal even for companies operating in regulated markets like Europe. This ensures that businesses remain compliant while optimizing their workflows.
B2B SaaS leaders looking for a platform that integrates perfectly with their operations and scales with their growth will find Younium an excellent fit.
Custom pricing tailored to business needs.
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Image via Versapay
Versapay is a leading cloud-based accounts receivable software solution designed to transform how businesses handle customer payments.
Known for its robust collaboration tools, Versapay successfully bridges the gap between AR teams and customers. It accomplishes this by providing a shared platform to manage invoices, disputes, and payments.
Versapay is suited for mid-sized to large businesses that prioritize customer collaboration and automation in their AR processes. With a focus on improving the payment experience, it enables real-time communication between AR teams and customers.
Its automation features minimize manual processes, reducing errors and speeding up payment cycles. For businesses operating across regions or managing high transaction volumes, Versapay’s scalability and flexibility are highly advantageous.
Versapay employs a custom pricing model, so one must contact the sales team for more information.
Image via Sage
Sage is an accounts receivable software solution that caters to the financial needs of small businesses. It offers tiered plans, so you can upgrade to higher tiers as your business grows.
It's an intuitive accounts receivable software solution that's easy to use. It transforms complex financial tracking into a streamlined, manageable process.
It provides robust yet accessible financial tools that don’t need accounting expertise. As such, it’s designed with simplicity in mind and offers both affordability and functionality.
Custom pricing.
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Image via Invoiced
Invoiced is a B2B accounts receivable automation software solution that reduces manual accounting tasks.
It's best suited for businesses managing complex AR workflows. It's ideal for mid-sized to large organizations prioritizing efficiency and security.
One of Invoiced’s standout features is its secure, verified network that connects businesses directly. This network minimizes risks like invoice fraud and vendor impersonation.
Invoiced uses automation for faster collections, improved accuracy, and reduced administrative burden. It integrates with accounting systems to create a seamless financial ecosystem.
For organizations that want to enhance productivity and mitigate fraud risks, Invoiced provides a scalable and secure accounts receivable software solution.
Custom pricing.
Image via Billtrust
Billtrust is a comprehensive accounts receivable software solution that simplifies the AR process.
It ntegrates invoicing, payment processing, cash application, and collections into a single platform. It helps businesses streamline their operations and gain real-time insights into their cash flow.
With this end-to-end approach, Billtrust enhances financial performance and provides better operational control.
It's ideal for businesses that need a unified solution to manage their AR processes efficiently.
Companies struggling with fragmented financial processes, manual data entry, and slow payment cycles will find Billtrust particularly transformative.
Its intelligent automation solutions can help them make better credit decisions, boost online sales, and accelerate payments through various channels. These solutions also help shorten billing lead time.
Custom pricing.
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Image via Quadient
Quadient AR, powered by YayPay, is another advanced accounts receivable software solution. It streamlines financial processes through automation and predictive intelligence.
By seamlessly integrating advanced technologies with traditional financial workflows, it offers businesses a comprehensive and transformative toolkit. You can use it to transform your accounts receivable operations from a reactive cost center to a strategic, insight-driven department.
Quadient AR is ideal for mid-market and enterprise-level organizations across various sectors. These include technology, services, and manufacturing. It excels in addressing the complex challenges of modern financial management.
This accounts receivable software solution is particularly beneficial for you if you want to eliminate manual work. It helps accelerate payment cycles and gain real-time visibility into financial performance.
It addresses inconsistent collection strategies and limited financial insights, and its single source of truth capabilities are quite revolutionary.
Custom pricing.
Image via FreshBooks
FreshBooks is a user-friendly, cloud-based accounts receivable software for small businesses and freelancers. It helps users send invoices, track payments, and manage finances with ease. If you want an all-in-one solution to manage your financial processes, this is a great option.
One of FreshBooks’ standout features is its ability to send professional, customizable invoices that enhance a business’s brand image.
Once an invoice is sent, FreshBooks automates key aspects of the AR process. These include tracking when a customer opens an invoice and sending automatic late payment reminders.
The platform’s flexibility allows users to personalize these reminders, ensuring a professional yet personal touch.
FreshBooks is ideal for small business owners who value mobility. That's because its cloud-based system is accessible on both iOS and Android devices.
The platform also integrates with other accounts receivable software solutions. This makes it a versatile accounts receivable software tool for managing payments and improving cash flow.
FreshBooks offers a tiered pricing structure, with the following plans:
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Image via Gaviti
Gaviti is an advanced accounts receivable software solution that caters to businesses of all sizes.
For starters, it leverages AI to optimize the entire invoice-to-cash process. Its autonomous AR platform helps teams work more effectively by providing data-driven insights and proactive recommendations.
What sets Gaviti apart is its AI pilot. It gathers data across the AR process to improve email communication, suggest credit limits, and optimize workflows. It allows businesses to evaluate and refine their AR strategies.
Gaviti’s comprehensive dashboard offers detailed collections analytics. With this data, you can track trends and improve your dunning process.
Its self-service payment portal provides customers with multiple payment options, including autopay. These ensure automated payment matching for transactions made through the platform.
Ultimately, Gaviti is ideal for companies seeking to reduce manual effort and enhance AR performance. Its AI-powered automation helps with credit management, dispute resolution, and cash application.
Custom pricing.
Image via BILL
BILL simplifies the accounts receivable process with a streamlined approach: enter, send, track, and get paid. This accounts receivable software solution creates professional invoices with customizable templates and automatic unique numbering.
Users can send invoices by email or mail and set up recurring invoices for regular customers. Tracking and follow-up are made easy with real-time status updates and automated reminders.
BILL ensures you get paid twice as fast by offering several payment options. It also auto-updates for paid invoices.
Additionally, BILL syncs seamlessly with leading accounting software and other financial tools. This allows it to reduce manual entry and speed up account reconciliation.
BILL is ideal for you if you’re looking for a flexible, integrated, and efficient accounts receivable software solution.
BILL offers the following tiered pricing plans:
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Image via Upflow
Upflow is a cutting-edge accounts receivable software solution for B2B companies. It excels in optimizing cash inflows and simplifying AR processes.
With its innovative technology, Upflow helps businesses reduce DSO (Days Sales Outstanding) and streamline workflows. It also fosters collaboration between the sales and finance departments.
Upflow excels in providing real-time visibility into AR metrics. In addition to tracking cash inflows, its analytics dashboards also identify risky accounts. This helps you take proactive measures to ensure timely payments.
Automated workflows further enhance productivity by personalizing reminders and eliminating manual tasks. The result is a stricter focus on strategic activities.
Ultimately, Upflow offers a robust solution with seamless integrations with numerous tools. It’s ideal for B2B companies aiming to strengthen their AR management and foster cross-department collaboration.
Upflow pricing starts with a free plan to benchmark your current AR approach to see how much you could unlock. Here are its plans:
Image via HighRadius
HighRadius is a sophisticated accounts receivable software solution for enterprises. It’s suitable for those seeking to streamline financial operations with AI-driven automation.
Like other accounts receivable software, HighRadius also consolidates various AR functions. It allows you to predict cash inflows, streamline collections, and optimize payment processes.
It’s best suited for larger organizations with complex accounts receivable processes. These include those managing high transaction volumes or intricate credit and deduction workflows.
HighRadius leverages AI to drive efficiency and accuracy. It automates tasks like cash application exceptions and deduction validations, minimizing manual effort. Meanwhile, its smart assignment of tasks improves recovery rates.
Additionally, HighRadius offers personalized automated communication. This ensures faster payment resolutions and a seamless customer experience.
It’s ideal for organizations looking to cut payment delays, reduce manual intervention, and gain actionable AR process insights.
Custom pricing.
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Image via Zoho Books
Zoho Books is a powerful and intuitive accounts receivable software for small and medium-sized businesses. It helps simplify financial management by automating payment reminders and solving recurring billing issues.
It’s designed for businesses that need recurring invoices or have high transaction volumes. Zoho Books eliminates repetitive tasks and ensures payments are on time. It integrates with multiple payment gateways, making it easy to receive payments quickly.
This accounts receivable software solution includes tools for tracking and categorizing transactions, so nothing is overlooked. Its automation features save time while keeping financial records accurate.
Zoho Books is part of the larger Zoho ecosystem, offering a seamless experience for managing finances. If you want to streamline your accounts receivable process without sacrificing functionality, it’s a reliable and cost-effective choice.
Zoho Books offers a selection of plans to meet different business needs, with add-ons available for paid plans at an extra charge:
Image via Tesorio
Tesorio is an accounts receivable software solution that improves cash flow management for businesses. It provides real-time AR dashboards, giving companies clear insights into their financial performance.
The platform automates collections with workflows, email campaigns, and team collaboration tools.
These features can help you accelerate collections and reduce Days Sales Outstanding (DSO). They also streamline the cash application processes.
Tesorio bridges financial operations by offering actionable insights that simplify complex AR tasks.
It’s also especially focused on automation and visibility. This makes it the ideal accounts receivable software choice for businesses looking to optimize cash flow management and improve financial health.
Custom pricing.
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Efficient accounts receivable (AR) management is the lifeblood of financial health for businesses. It’s crucial for B2B SaaS companies for which recurring revenue and customer retention are key.
Effective accounts receivable management ensures timely cash flow, reduces bad debt, and enhances customer relationships. Implementing best practices and choosing the right accounts receivable software can help reach these goals.
Here are some essential best practices for streamlining accounts receivable processes.
Defining credit policies is the foundation of effective accounts receivable management.
Set clear payment terms, credit limits, and penalties for late payments upfront. This transparency ensures clients understand expectations, reducing misunderstandings and disputes.
Strong credit policies, combined with robust accounts receivable software, can also help monitor customer creditworthiness and flag risks early. With this proactive approach, you can minimize the risk of bad debt and ensure smoother cash flow.
Timely and accurate invoicing is critical for managing cash flow. Automating this process through accounts receivable software saves time, minimizes errors, and reduces the chances of late payments.
Solutions like Younium enable businesses to customize invoices, integrate payment reminders, and adhere to region-specific compliance standards.
With features like customizable templates and automated numbering systems, they ensure consistency and professionalism across markets.
Consistent follow-ups are crucial to reducing overdue payments. Set up automated reminders and follow-up emails at key intervals, ensuring communication remains professional yet persistent.
Personalizing communication can improve response rates and foster positive customer relationships. By staying proactive, you can reduce the number of overdue invoices and improve collection rates.
The best AR strategies are data-driven. Tracking KPIs like DSO, overdue percentages, and collection efficiency can help you identify bottlenecks and optimize processes.
AI-powered insights, like those offered by accounts receivable software like Younium AI, help businesses predict customer behavior.
They also aid in streamlining collections, while enhancing cash application accuracy. This leads to more informed decisions and better results.
Customers are more likely to pay on time when the process is seamless. Offering multiple payment options, such as ACH transfers, credit cards, and direct debit, ensures flexibility for clients.
A self-service payment portal, a feature in many AR software solutions, allows clients to view and settle invoices conveniently.
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Selecting the right accounts receivable software solution is critical for optimizing AR processes and ensuring financial stability. Here are key factors to consider when making your choice:
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Accounts receivable software is a specialized technological solution designed to manage and optimize the billing and payment collection process.
For SaaS businesses that rely heavily on subscription-based revenue, this software is crucial. Accounts receivable software solutions automate complex billing cycles, track invoices, and provide real-time insights into cash flow. These improve financial efficiency and reduce manual administrative work.
Q2. How does Younium support B2B SaaS companies?Younium is tailored to meet the needs of subscription-based SaaS companies by providing AI-powered insights and automation. The accounts receivable software solution helps manage recurring billing, track subscription renewals, and automate dunning processes.
Additionally, Younium offers detailed analytics and reporting. This enables SaaS businesses to optimize their revenue operations and maintain healthy cash flow. At the same time, it helps them adhere to compliance standards in various regions.
Q3. Can accounts receivable software integrate with existing accounting systems?Yes. Most accounts receivable software solutions integrate seamlessly with existing accounting systems. This streamlines data flow, reduces manual data entry, and ensures accurate financial reporting.
Tools like Younium connect with popular accounting platforms like Xero, Quickbooks, and NetSuite.
Q4. How do you track accounts receivable?Tracking accounts receivable involves several key methods:
DSO, or Days Sales Outstanding, is a critical financial metric tracked by accounts receivable software. It measures the average number of days it takes a company to collect payment after a sale has been made.
A lower DSO indicates more efficient accounts receivable management and healthier cash flow. Meanwhile, a higher DSO may signal payment delays or inefficiencies.
Mastering accounts receivable management is vital for business success.
Choosing the right accounts receivable software solution can help you transform financial operations. This reduces manual work and provides insights into cash flow.
Younium offers AI-powered insights and comprehensive features. It’s perfect for B2B SaaS businesses looking to streamline their AR management.
Take the next step in AR management by exploring solutions like Younium to improve your accounts receivable processes. Don’t just manage your receivables—revolutionize them.