Payference

Rico Industries' Journey: From NetSuite Limitations to Payference Excellence When Rico relied on NetSuite ERP for AR management, they faced limitations in functionality and user-friendliness. The CFO recognized that while NetSuite worked for mid-level companies, its processes became cumbersome as they sought agility. Cash flow calculations, once done manually in Excel, became too time-consuming and were eventually abandoned. The Challenge Rico needed faster invoice payments without overhauling their existing systems. They wanted a solution that not only automated collections but also provided cash flow projections with predictive analytics. The Solution Enter Payference. With a quick and simple integration, Rico’s team saw immediate relief from manual work. The user-friendly interface was a welcome change, and the finance team appreciated how any suggestions or requests were quickly implemented – sometimes within just a week. The Results Payference's AR automation streamlined Rico’s entire process, reducing their DSO by 12 days within just three months. Automated email communication allowed customers to pay invoices quickly and efficiently. As CFO Navin Eric noted, “Automating day-to-day operations leaves more time for the important analytics.” With Payference, Rico found a nimble, standardized product that can be easily tailored to meet their specific needs – a full solution for any company looking to elevate their AR process. Read the full case study here 👇 https://lnkd.in/gwJ-RKpF #ARautomation #accountsreceivable #DSO #cashflowmanagement

Why do smart finance teams choose Payference? ➡ Seamless Integration with Any System Whether you're using NetSuite, QuickBooks, or any other ERP, Payference integrates effortlessly. No need to overhaul your existing setup – we work with what you’ve got. ➡ Up and Running in Hours We know time is money. That’s why we get you up and running in hours, not days or months. You’ll see the benefits of AR automation almost immediately. ➡ We Listen and Adapt Our customers are our partners. We’re not just selling a product; we’re providing a solution that evolves with your needs. We’re constantly improving Payference based on real customer feedback – literally every day. That’s why Payference is the preference of smart finance teams. Ready to join them? Learn more: www.payference.com #ARautomation #accountsreceivable #DSO #fintech

💡 Writing effective dunning letters is crucial to maintaining healthy cash flow and customer relationships. Here are 3 quick tips to get started: 1️⃣ Readjust Your Attitude: Approach dunning with empathy, focusing on collaboration rather than blame. 2️⃣ Craft a Strong Subject Line: Use attention-grabbing words like "Action Required" while keeping the tone professional. 3️⃣ Send Emails from a Real Person: Ensure your dunning emails come from a recognizable, human sender. Curious to learn more? Check out the full blog for the remaining 5 tips on writing dunning letters that get results! https://lnkd.in/gN6-Ds9h #AccountsReceivable #CashFlow #Collections #Payference #DSO

Struggling with collections can have a serious impact on your business's cash flow and overall health. Here are three signs that it might be time to seek help: ➡ Your DSO Is Rising If your Days Sales Outstanding (DSO) is increasing, it’s a red flag that your collections process isn’t as efficient as it should be. A growing DSO means you’re waiting longer to get paid, which can choke your cash flow and limit your ability to invest in growth. ➡ Chasing Payments Is Taking Up Too Much Time Are you or your team spending hours chasing down payments each week? That’s time better spent on strategic initiatives rather than on manual follow-ups. If collections are eating into your productivity, it’s time to streamline the process. ➡ Your Customer Relationships Are Suffering When collections are managed poorly, it can strain relationships with your customers. Constant reminders, errors in invoicing, and lack of payment options can lead to frustration on both sides. If you’re noticing a dip in customer satisfaction, your collections process might be part of the problem. The Solution? If these signs sound familiar, it might be time to consider an automated collections solution. Payference offers a suite of tools designed to optimize your collections process, reduce DSO, and keep your customer relationships strong. Learn more at www.payference.com! #arautomation #accountsreceivable #DSO #collectionsmanagement

If you’re looking to improve your Days Sales Outstanding (DSO), here are 3 straightforward strategies that can make a significant difference: 1️⃣ Automate Your Invoicing Process Manual invoicing is time-consuming and prone to errors. Automating your invoicing process not only speeds up the payment cycle but also reduces mistakes that can delay payments. Ensure your invoices are accurate and sent out promptly. A tool like Payference can help you streamline this process, sending invoices automatically and including all necessary documentation. 2️⃣ Offer Multiple Payment Options Make it easy for your customers to pay by offering multiple payment options, such as ACH, credit cards, or even digital wallets. The more convenient it is for your customers to pay, the quicker you’ll receive your money. Payference allows you to integrate various payment methods into your invoicing system, improving the payment experience and reducing delays. 3️⃣ Send Friendly Payment Reminders Gentle, automated reminders can go a long way in ensuring timely payments. Set up a schedule for reminders—before the due date, on the due date, and a few days after. These reminders keep your invoices top-of-mind and reduce the chances of them getting overlooked. With Payference, you can automate these reminders, personalizing them to maintain a positive relationship with your clients. 🌟 Bonus Tip: Regularly review your collections process and adjust where necessary. Even small tweaks can lead to significant improvements in your cash flow. Improving DSO doesn’t have to be complicated. With the right tools and strategies, you can start seeing results quickly. Payference is here to help you make those improvements, one step at a time. #DSO #collections #fintech #arautomation #accountsreceivable

📣 3 THINGS THAT CFOs GET WRONG ABOUT CASH MANAGEMENT... 1) Focusing Only on Historical Data: Many CFOs rely too heavily on past performance to predict future cash flow. While historical data is important, it doesn’t account for changing market conditions or unexpected events. A forward-looking approach is crucial. 2) Underestimating the Importance of Real-Time Data: Cash flow management isn’t static. Without real-time insights, you might miss critical fluctuations that could impact your bottom line. The faster you can react to changes, the better. 3) Overcomplicating Cash Forecasting: Cash forecasting doesn’t have to be complex to be effective. Simplicity, driven by smart automation, often leads to better accuracy and easier management. That’s where Payference comes in. Our AI-powered cash forecasting tool takes the guesswork out of cash management. By analyzing both historical and real-time data, it delivers accurate, actionable insights—allowing you to stay ahead of the curve and make informed decisions with confidence. If you’re ready to elevate your cash management strategy, it’s time to let Payference do the heavy lifting. Learn more: www.payference.com! #cashflowmanagement #cashflow #cashforecasting #CFO #fintech

Accounts receivable management is a vital aspect of financial operations for businesses of all sizes. While essential for maintaining healthy cash flow, AR management often presents challenges that can hinder a company's financial stability and growth. Check out this blog that covers some of the common hurdles encountered in accounts receivable management and learn how you can overcome them by leveraging digital technology 👇 https://lnkd.in/d7iYE-pz #ARautomation #accountsreceivable #fintech #payference

💡 How To Know If Your AR Automation Tool is Working for You Are you getting the most out of your AR automation tool? If you’re unsure, here are a few signs that it might be time to reassess: ➡ Time Spent on Manual Tasks: Are your team members still drowning in manual processes? A great AR tool should significantly reduce the time spent on routine tasks like sending invoices and following up on payments. ➡ Customer Experience: Are your customers able to easily view and pay their invoices using a self-serve portal? If not, you might be missing out on faster payments and improved customer relationships. ➡Cash Flow Impact: Is your AR tool actually improving your cash flow? If you’re not seeing a reduction in DSO (Days Sales Outstanding) and better cash management, it’s time to question whether your tool is pulling its weight. If your current AR automation tool isn’t delivering on these fronts, it’s not just a tool problem—it’s a business problem. Make sure your AR automation is working as hard as you are. If it’s not, it might be time to consider a switch. See why more and more businesses are switching to Payference. Schedule a demo today: https://lnkd.in/gaNYZH2p #arautomation #accountsreceivable #DSO #cashflow

When it comes to accounts receivable, the right tools can make all the difference. While NetSuite offers built-in AR automation, many of our customers tell us that Payference takes their AR process to the next level. Why? It’s the small yet impactful features that set us apart... ✔ Customer-Friendly Interface: Our platform offers a streamlined, intuitive interface that enhances the customer experience. ✔ Pay Button: With Payference, customers can easily pay their invoices with just a click, improving cash flow and reducing friction. ✔ Batch Invoice Sending: Send multiple invoices at once, saving time and reducing errors. ✔ Automated Payment Reminders: Past due invoices? We’ve got you covered with automated reminders that help keep payments on track. It's not just about automation—it's about making the process better for everyone involved. That's the Payference difference. Learn more at www.payference.com today! #ARautomation #collections #collectionsmanagement #fintech #netsuiteERP

One of the biggest challenges CFOs face with accounts receivable is the constant struggle of balancing time and accuracy. When your team is buried under spreadsheets, manually tracking down late payments, and dealing with errors, it’s easy for cash flow to take a hit—and for valuable time to slip away. That’s where Payference steps in. Our AR automation platform streamlines the entire process, reducing manual tasks, minimizing errors, and freeing up your team to focus on what really matters—driving your business forward. Let us help you turn those AR headaches into smooth operations. Ready to make a change? Let’s chat: https://lnkd.in/gWTwPiBb. #finance #arautomation #accountsreceivable #CFO #fintech