Most of us have been there I think. I’ve watched teams drown in manual processes-missed reminders, errors that have made their way into their financial administration. And we all know that one client who always somehow manages to “forget” to pay… unless reminded for the seventh time of course. The frustration? I think we all know the feeling. The solution? For me personally the time when the first accounts receivable software came about, I breathed a sigh of relief. Finally… a solution was on the hands. And I know lots of people who have come on board with it since then.

You may be asking yourself the following:

• “How do I get customers to pay faster? And how do I avoid burning bridges with them?”
• “Which features actually save time instead of making things more complex?”
• “Will this integrate well with my accounting OR ERP system? Or will it just cost more time?”
• “Can I afford this without sacrificing functionality? Does the affordable solution work well enough?”

This isn’t about finding a quick fix for your accounts receivable (AR) process. It’s about getting it right long term. It’s about finding new ways of doing things efficiently while also continuing to get them right (or in fact increasing the effectiveness of your operations). It’s about knowing what to expect in terms of your future cash flow, and getting paid on time if/when possible.

While AI automation tools generally are a wonderful thing, here’s the kicker: not all tools are created equal. The landscape is vast with there being big differences that set the various tools apart..

What is accounts receivable (AR) software?

Accounts receivable (AR) software is a desktop, mobile, browser or in some cases even email platform based software product. It is designed to help you as an organization manage and track the money customers or other stakeholders owe you. When choosing a product that’s right for you, it will help make your (work) life (a lot) easier.

Sometimes a standalone software product that runs on an operating system like Microsoft Windows or Apple Mac OS X is exactly what your business needs. And sometimes it can be a component that is integrated into another software product, like a web browser or an email platform like Gmail or Outlook, that will do the job for you. AR software helps you delegate various manual tasks relating to the lifecycle an invoice goes through, whether this is someone paying the first time around to the most tedious of arrears to chase. From creation and delivery to payment tracking and collections: with AR software you’re not stuck manually sending reminders or updating spreadsheets all the time (when your colleagues have already gone home or, worse, on the weekend).

Instead of relying on memory or endless email threads, AR software takes over repetitive tasks like generating invoices, sending them out to customers, and following up with automated reminders when payments are overdue. It records every payment as it comes in, flags overdue accounts, and it can even escalate follow ups automatically if a customer still hasn’t paid by a certain date. All these actions are tracked in real time. This gives you a overview of your outstanding receivables, cash flow, and customer payment behaviors.

Top 18 accounts receivable (AR) apps for businesses

There are many types of accounts receivable (AR) apps and other types of AR software on the market. Below you find a comparison of some of the 18 best accounts receivable (AR) software tools.

 

Software	Key features	Pricing (monthly)	Integrations
Credit-IQ	Automated reminders, final demand letters via Atradius, multi-language/currency dashboards, mobile access	Topaz: $29/mo (40 invoices) Crystal: $69/mo (110 invoices) Onyx: $149/mo (300 invoices) 30-day free trial	10+ integrations: Exact, NetSuite, Sage One, ClearBooks, QuickBooks, Zoho, Microsoft Dynamics, FreshBooks, Xero, FreeAgent
Versapay	AR collaboration hub, instant payment processing, omni-channel invoicing	0.5%-1% transaction fee + $5,423 avg/year	Oracle, SAP, Microsoft Dynamics
Gaviti	Collections prioritization, payment forecasting, automated dunning	Custom quote	Major ERPs
Quadient AR	Payment behavior predictions, machine learning cash app, dispute management	From $500	Sage Intacct, Oracle NetSuite, Salesforce
BlackLine	Automated cash application, credit risk analysis, dispute tracking	Per user/month	SAP, Oracle, NetSuite
HighRadius	Autonomous receivables AI, deductions management, collections analytics	Custom enterprise	SAP, Oracle, Microsoft Dynamics
Invoiced	Payment plan setup, API access, customer portal	From $400	Custom API integrations
Hiver	Gmail/Outlook integration, collaborative AR management	$79/user	GSuite, Microsoft 365
Chaser	Multi-channel collections, legacy invoice recovery, 5-currency support	£200-£600 + software subscription	Xero, QuickBooks, Sage
Tesorio	AI payment predictions, credit risk analysis, cash flow optimization	From $149/user	NetSuite, SAP
Centime	AI collections, high-yield banking integration, cash flow forecasting	Volume-based	NetSuite, Sage Intacct, QuickBooks
Payt Software	Automated invoicing, real-time reports, 600+ industry integrations	€29.95-€149.95	Microsoft Dynamics 365, Xero, QuickBooks Online
BILL	Auto-pay features, multi-channel invoicing, approval workflows	$45-$79/user	QuickBooks, NetSuite, Sage Intacct
Billtrust	Customizable invoices, billing portal, ERP integrations	From $65	SAP, Oracle, Microsoft Dynamics
Onguard	Credit risk scoring, automated cash allocation, multi-entity support	Custom quote	SAP, Oracle, Microsoft Dynamics
Growfin	AI customer health scores, predicted pay dates, automated dunning sequences	Custom quote	QuickBooks, Xero, NetSuite
Debitan	PSD2 compliance, IBAN verification, automated direct debits, Dutch SME focus	€34.95-€299 (20+ invoices)	Mollie PSP, iDEAL, PayPal
Notify	Payment link integration, Dutch accounting compliance, branded communication	€29-€199.95 (20+ invoices)	Major Dutch accounting systems

 

Credit-IQ

Atradius’ Credit-IQ is one of the latest generation cloud-based accounts receivable (AR) management software packages. One aspect of it that stands out is its broad scope of features and the broad range it can be used for in in terms of the various types of applications that can use it.

It was designed for use in organizations ranging from the private sector to the government and other public sector players, from the largest of big organizations to some of the smallest. The software helps you get paid in less time, also demanding less effort from your side.

Another thing that makes Credit-IQ stand out is its powerful automation capabilities: it automatically sends payment reminders, escalates overdue invoices with customizable final demand letters. Besides writing your customer in their own language, the software also allows you to customize invoices and reminders by putting your logo on it and by changing the font, the background color and other aspects of your layout so it matches your company’s branding and communication style.

If invoices remain unpaid, Credit-IQ’s partnership with Atradius allows you to escalate to professional debt collection services directly from the platform, ensuring your cash flow stays protected. This is one of the benefits of choosing an AR software package that was developed by a collections firm.

An additional benefit of Credit-IQ in this regard is the fact that Atradius is a multinational corporation, that itself has employees working for it who speak several languages fluently and do so from several dozens of countries. If you are working with international clients (e.g., if you export to other countries), this can be to your benefit. This multilingual aspect of Atradius is reflected in Credit-IQ.

The software application enables you to customize workflows and communication in up to eight languages (including major languages that people speak as a second language such as English, Spanish or French). This helps ensure a professional and consistent experience for your customers.

The platform offers integrations with a substantial number of bookkeeping platforms. These platforms include most of the major platforms and a few niche ones such as Microsoft Dynamics, Exact, NetSuite, Sage One, QuickBooks, Xero, Zoho, FreshBooks, ClearBooks and FreeAgent.

A few competing platforms, such Tesorio, Centime and Growfin, do include ERP and accounting system integrations, but the number of platforms they support is fairly limited. By comparison Credit-IQ offers a great number of platforms that it integrates seamlessly with.

Free trial: 30 days

✔️ Automated payment reminders and escalation workflows
✔️ Real-time dashboard that offers an overview over invoices and cash flow
✔️ Seamless integration with 10+ major bookkeeping and accounting platforms
✔️ Customizable reminders and templates in eight languages
✔️ Direct escalation to professional and international debt collection (Atradius)
✔️ Unlimited users on all plans, which may help you save money
✔️ Mobile-optimized access for managing AR when you’re not behind a coputer

Pricing

Credit-IQ offers flat-rate pricing starting at $29 per month, with all plans including unlimited users and a 30-day free trial. Pricing tiers are based on the number of invoices managed, making it easy to scale as your business grows.

● Topaz: $29/mo (40 invoices)
● Crystal: $69/mo (110 invoices)
● Onyx: $149/mo (300 invoices)

Billtrust

Billtrust is an established player in the accounts receivable (AR) automation niche. The software product offers a number of tools to help with the sending out of invoices as well as payments, collections, and cash application. The platform is often chosen by medium sized companies as well as the large (multinational) enterprises looking to reduce manual AR tasks and accelerate cash flow.

Billtrust integrates with a number of ERP systems and supports multiple invoice delivery channels, including accounts payable (AP) portals. The latter is useful for organizations with diverse customer bases. Billtrust’s approach can be described as traditional. The software product relies on rule-based workflows, which can limit flexibility for accounts receivable teams that seek to prioritize or customize collector activities.

While the software automates many back-office processes, one downside is that it lacks features that facilitate in-platform collaboration and real-time communication. This makes it harder to resolve disputes or respond to customer questions efficiently. Some users have also complained that special projects or form changes can take longer than expected to complete, and the platform’s customization options for end users are limited. An example of this are the limited abilities for modifying invoice templates.

Customer feedback generally indicates large enough integration capabilities. The user interface is typically experienced as user-friendly. Some users have reported that they found the initial setup somewhat difficult and in reviews they remarked that retrieving older invoices can be challenging.

Billtrust’s customer support is regarded as responsive, though some users have complained about a lack of proactive communication on project timelines and requirements. The cost structure is not publicly listed, has been flagged as potentially high for smaller businesses, with additional charges for billable work and professional services.

✔️ Automated invoicing, payment processing, and collections management
✔️ Integration with several ERP and AP systems
✔️ Customer portal for online payments and account management
✔️ Multi-channel invoice delivery (including AP portals, email, and fax)
✔️ AI-driven cash application and analytics
✔️ Centralized billing information and payment tracking

Pricing

Billtrust does not have information listed on its website on how much the product costs. Instead, it offers custom quotes based on business size, transaction volume, and feature requirements. Users should be aware that implementation may involve additional professional service fees, and that the overall cost can be prohibitively high for smaller organizations.

Graviti

Like Credit-IQ and a few other services, Gaviti too is a cloud-based accounts receivable (AR) platform. Gaviti’s core audience consists of medium to large B2B organizations that seek to automate collections and reduce outstanding receivables. The software offers a unified dashboard for managing invoice-to-cash workflows, automating payment reminders, and tracking overdue payments.

Gaviti promotes its flexibility with customizable workflows and broad ERP compatibility, claiming to fit seamlessly into existing infrastructures. Despite these strengths, the implementation of the software has been noted to cause issues for some users, particularly companies with complex or legacy ERP systems (as integration may not be as effortless as advertised). Some users have reported that the initial period using the software package has been a steep learning curve for them. Some users find the system’s interface less intuitive than it would ideally be.

One recurring theme in reviews of the product are the excessive reminder emails that the software package sends out, as a result of which the software can unnecessarily risk damaging client relationships. Data management issues have been reported, such as the inclusion of unposted invoices in accounts receivable numbers. Also, occasional glitches with credit report pulls have been reported. Customization is possible, but bulk data entry is cumbersome, and system updates have been known to disrupt stored information.

Unfortunately, Gaviti’s pricing model is not transparent; costs depend on selected modules and the number of unique customers invoiced monthly, with quotes required for specifics. While unlimited users are a plus, the lack of clear upfront pricing can make budgeting difficult for finance teams.

✔️ Automated invoice reminders and customizable collections workflows
✔️ Real-time dashboards and analytics for AR tracking
✔️ Broad ERP integration (ERP-agnostic, including custom systems)
✔️ Customer payment portal with multiple payment options
✔️ AI-powered credit review and risk assessment tools
✔️ Dispute management with activity logs and instant alerts
✔️ Unlimited users and customizable user permissions

Pricing

Gaviti’s pricing is modular and based on the number of unique customers invoiced per month and the features selected. There are no per-user charges, but prospective customers must request a quote to receive specific pricing details. This lack of transparency may complicate cost comparisons and planning, particularly for smaller organizations or those with fluctuating invoice volumes.

The software comes in three editions and the prices likely depend on the edition that the user opts for:
● Standard Edition
● Pro Edition
● Expert Edition

Hiver

Hiver is unique in that it works directly from within Google’s Gmail and Microsoft’s Outlook email environments. This can make it easy for some entrepreneurs and finance or administration teams to manage accounts receivable (AR), especially ones that already organize their operations using these platforms. The platform centralizes communications, automates reminders, and supports collaboration via shared inboxes and notes.

Pros and cons: If a large aspect of your current efforts to get invoices paid is currently carried out through Gmail or Outlook, this may save you a lot of time. Hiver’s AR features, however, are less advanced than those of dedicated AR platforms. It appears to be best for companies already using Gmail/Outlook, that want to make their communications with customers more efficient as it pertains to the payment of invoices and reminders.

Companies that do not use Gmail or Outlook however, for example for privacy reasons or because their company uses email and cloud services from another provider, are excluded from using the service for that reason. Hiver lacks the deep automation, analytics, and payment processing of more specialized tools.

Payt Software

Within the Netherlands, Payt is a well-known automation platform within the accounts receivable automation niche. The software helps automate the invoicing and reminder process. It also boasts integration with a few of the most well-known platforms including Microsoft Dynamics 365, Xero, QuickBooks Online.

Like many of the competing services, Payt has a dashboard that provides insights to you as a user, giving you a clear overview of outstanding invoices. The system supports multiple payment methods, including PayPal and several credit cards, and offers a customer portal for transparent communication. Payt also lets you customize workflows, reminders, and communications to fit your brand.

Pros and cons: Overall, it appears to be a good software product. While Payt is flexible, some users note that its customization options could be more extensive. It is also frequently remarked that the initial setup can be a bit complex, especially for businesses with unique workflows. Pricing is transparent but can add up for larger invoice volumes.

Additionally, as it’s a Dutch company, it excels with features catering specifically to Dutch clients. One example of that is the support of the iDeal platform. Many European countries have their own equivalent of the iDeal platform, so the specific mention of this platform indicates that a large part of their clientele comes from the Netherlands.

ChaserHQ

Like many other products, ChaserHQ offers the ability to automatically send out invoice reminders. The company claims to do so while maintaining a “human touch”. It integrates well with a few of the major accounting platforms including Xero, QuickBooks, and Sage. And the software product offers a multi-channel approach of customers and other stakeholders via email and text message (SMS).

Chaser’s dashboards provide insights into debtor behavior. The software package’s payment portal allows customers to pay online straight away. And the platform includes credit checking and advanced reporting.

Pros and cons: While it is arguably a good software product for many larger organizations, Chaser’s pricing likely makes it prohibitively expensive for smaller businesses (£200-£600/month plus software subscription). Some advanced features may require additional configuration or technical expertise. It is unclear as to whether that would carry additional costs. Additionally, the platform’s focus on collections means it may lack broader AR analytics and forecasting tools found in more comprehensive solutions.

So all in all, it seems to be a good product, but the price/quality ratio may be off putting, especially for smaller businesses.

 

 

 

Onguard

Onguard is an AR management platform with automation features and dynamic workflows. It allows for the integration with several ERP, invoicing, and accounting platforms. VISMA, the company behind Onguard, says the software was designed with the need for advanced credit risk scoring and automated cash allocation in mind.

Its Dynamic Flow feature tailors collection strategies to customer payment behaviors, while dashboards offer robust oversight.

Pros and cons: Onguard is most suitable for larger organizations with complex requirements. The pricing reflects that, as it is custom, unlike with competing services that transparently list them on their website. As it is a product designed for larger businesses with more complex needs, the learning curve can be steep for new users within the organization. And implementation can therefore be resource-intensive. The platform therefore is likely an overkill for small businesses, but may be suitable for large organizations. Large organizations that decide to take out this product are well advised to invest substantial time comparing the several products on the market. Also, post-purchase significant investments may be required, among others in the training of employees who will be using the product.

 

 

 

Notify.nl

As the top level domain (.nl) in the company’s name indicates, Notify.nl is another Dutch accounts receivable (AR) automation tool (like Credit-IQ, Debitan and Payt software, which are also based in the Netherlands). This AR tool was built to help speed up organizations’ debtor management. The software automates reminders, payment links, and credit checks, and offers a branded customer portal with support for local payment methods like the Netherlands’ iDeal platform as well as international platforms such as Apple Pay. Notify claims its software helps users get paid 30% faster on average.

Some of the features the platform includes are:
● dispute management
● integrated mailbox
● real-time dashboards

Pros and cons: As the TLD in its name indicates, Notify.nl is primarily focused on the Dutch market (that is, the market of the Netherlands and potentially that of neighboring countries such as Belgium and Germany). This may limit its appeal for some international businesses, which for example may want to write to their customer in a number of different languages and allow them to pay using the local equivalent of iDeal rather than forcing them to pay using more of a global payment method. Some users mention that pricing can be less competitive for smaller invoice volumes, and advanced analytics are more limited compared to global competitors.

 

 

 

Centime

Centime is a financial management software product that combines AR automation with cash flow forecasting. The tool employs artificial intelligence (AI) to predict payment delays. It also helps automate collections, and provides a unified dashboard for cash flow management. Centime integrates with a few accounting systems including NetSuite, Sage Intacct, and QuickBooks.

The platform’s customer portal helps create an overview of a customer’s payments and arrears. Accounts payable is also featured in the software.

Pros and cons: Overall it seems to be a decent software product. One potential downside is that the initial setup can be complex. Several users report that it was time-consuming to get things up and running. This may particularly be an issue for smaller businesses. The learning curve is steeper than those of more focused AR tools. Also, frequent software updates can disrupt established workflows. The number of ERP and accounting platforms that are supported are smaller than those of several other platforms.

Debitan

Debitan is a the Netherlands-based and focused AR management platform that combines sales, AR, customer service, and after-sales in one system. It automates reminders, direct debits, and payment plans, and integrates with several accounting systems. Debitan boasts a dashboard that provides user with an overview and that it claims helps them save time.

Pros and cons: Like Notify.nl and Payt, Debitan’s primary market also primarily consists of the Netherlands and, potentially, its neighboring countries as well. International businesses from farther afield may find its features less relevant. The application’s interface and the various modules are tailored to Dutch SMEs. Larger enterprises may find it less scalable.

 

 

 

Tesorio

Tesorio is a tool that employs the upcoming technology of artificial intelligence (AI) to automate accounts receivable (AR). The platform was designed for mid-to-large businesses needing deep automation and cash flow insights. It offers real-time dashboards, automated collections campaigns as well as payment portals and advanced analytics. Tesorio’s predictive tools help you prioritize your collections operations. Of potential use in this regard is its forecast of future cash flows.

Pros and cons: The emergence of AI holds promise for what this tool may be able for organization in the future. As of now, however, Tesorio’s setup and automation options can be difficult for new users. It requires technical expertise. Pricing is custom and often higher than tools that were designed specifically for small and medium sized enterprises (SMEs). Because of the technical expertise that is required, one point to take into consideration when requesting a quote is to ask about consulting fees in case technical expertise is required.

 

 

 

Versapay

Versapay is an accounts receivable (AR) software suite that was developed with the need for good communication between finance teams and customers in mind. Its features include multichannel invoicing as well as instant payment processing. It employs the promising power of artificial intelligence (AI). Versapay’s customer portal enables direct interaction and dispute resolution.

Pros and cons: Versapay supports some of the major ERP and accounting platforms, including Sage Intacct, NetSuite and Microsoft Dynamics. Versapay’s pricing, however, is not transparent. Things can therefore easily become be expensive very easily, especially for smaller businesses. The platform is enterprise-oriented, which may make it less suitable overall for small businesses that are in need of a more lightweight solution.

 

 

 

Quadient AR

Formerly known as YayPay, Quadient AR was built for large organizations that need advanced automation capabilities and that seek to use predictive analytics to their benefit. It seeks to employ the promising future power of artificial intelligence (AI). It does so to provide users with insights as well as tailored collection strategies.

Pros and cons: Quadient AR appears to be most suitable for large enterprises. For one thing, its custom pricing and enterprise focus make it less accessible for small businesses. The platform can be difficult to configure. It may therefore require qualified IT staff and other IT related resources in order to setup the system well. All of these things carry costs that may make it prohibitively expensive for smaller organizations, or at least financially disadvantageous.

 

 

 

BlackLine

BlackLine (also known as BlackLine.com or BlackLine) is an AI tool that helps automate cash application, credit risk analysis, and dispute management. The software focuses on eliminating manual processes. It integrates with a few of the leading ERP platforms.

Pros and cons: BlackLine appears to be most suitable for larger organizations with complex needs. For smaller organizations the software appears to be an overkill with likely too high of a price tag. In other words, the system can be expensive. On top of that, it has a steeper learning curve for new users, which also carries costs.

 

 

 

HighRadius

Like Tesorio, Quadient AR and Versapay, HighRadius employs the promising power of artificial intelligence (AI). The company asserts that it does so to help make collections, credit management, and reconciliation more efficient. The tool features tools that help predict future events. In doing so, the company claims it helps reduce DSO and that this contributes to an improved cash flow. There is also the ability to integrate the tool with a few of the leading ERP platforms.

Pros and cons: HighRadius is an enterprise solution with custom pricing and significant implementation requirements. It’s less suitable for small businesses or organizations in need of a quick or a lightweight solution. The reliability of AI is still uncertain, especially with regard to prediction of future events. Anecdotal evidence suggests that as of now, there is still a large range of error with regard to the ability of AI tools to predict future financial events.

 

 

 

Invoiced

Like many other tools, Invoiced helps automate invoicing, payment plans, and customer management. The software distinguishes itself with its focus on user-friendly interfaces. Besides that, it offers the ability to integrate with QuickBooks and Xero. The application also boasts API access, which allows for customizable connections with other applications and platforms, including tailor made ones.

Pros and cons: Pricing starts at $400/month, which may be high for small businesses. While intuitive, it may lack the advanced automation and analytics of more comprehensive platforms.

 

 

 

BILL

BILL (formerly Bill.com) offers comprehensive AR automation, including invoice tracking, auto-pay, and approval workflows. It integrates with major accounting platforms and supports multiple payment methods.

Pros and cons: Overall, BILL appears to be a decent software product for AR automation. The pricing structure is such that a fee is charged per user, which can add up for larger teams. Also, some users report that the interface can be unintuitive. Some online accounts indicate that customer support response times can vary. This may therefore also be a factor to take into consideration when choosing an AR automation tool.

 

 

 

Growfin

Growfin is an Artificial Intelligence (AI)-driven AR automation platform. Its main capabilities lie in collections, dispute management, and real-time insights. It integrates with major ERPs and payment processors and offers collaboration tools.

Pros and cons: Growfin’s pricing is not publicly listed on its website. The setup of the software may require technical expertise. This may entail additional consulting fees, so potential buyers of the product are well advised to inquire about this. The platform appears to be best suited for larger businesses with more complex AR needs, as it may offer more than what small teams require. For that reason it would in all likelihood be an overkill that would likely cost more than a competing service, which would better suit a smaller company’s needs.