Stop Spinning Your Wheel

Why AR Automation Helps Firms Thrive

 Let’s face it — your clients expect you to be efficient, precise and proactive. If your firm struggles to manage its own time and finances, how can you expect clients to trust you with theirs? Like with most practice management problems today, there is tech to help with that!

Accounts receivable (AR) automation is one tool that can help take your practice to the next level. Yes, it will save you time. But it’s also about thriving in an industry that demands agility and innovation. It’s especially critical now as we’re navigating a tight labor market and finding time to service clients is hard enough without chasing payments, as well.

Let’s look at how AR automation can benefit your firm and your clients.

Cut Costs Without Cutting Corners

Improving processes usually comes with a price tag, but not here. AR automation eliminates outdated expenses. No more checks, envelopes or paper invoices! It scales with your firm, handles spikes in workload without the cost of temporary staff, and keeps your team from burning out. This isn’t just about dollars and cents — it’s about holding onto your best people and making sure they’re working smarter, not harder.

No More Reconciliation Nightmares

Who hasn’t spent time combing through transactions, trying to reconcile statements manually, only to find errors that could derail the entire process? AR automation takes this headache off your plate by matching invoices to payments automatically and flagging discrepancies instantly. And guess what? All the data lives in one secure, easy-to-access platform. Think of it as your firm’s digital vault of efficiency.

Survive (and Thrive) During Tax Season

Another tax season is right around the corner. Long hours, tight deadlines and way too much caffeine. The staffing shortage? Just the cherry on top of the stress sundae. With AR automation, you can kiss those tedious, repetitive administrative tasks goodbye. Forget about manual invoicing, payment reminders or endless payment processing. Automation frees you up to focus on the returns and advisory work that really matters. And that means you’ll have happier clients, make fewer mistakes and make time to deliver tailored strategies that make you indispensable. 

Get Paid Faster

More than half of U.S. business-to-business (B2B) invoices were paid late in 2023. That’s a big problem when you’re trying to maintain profitability. Make it easier for clients to pay with flexible payment options. That could be things like “Pay Now” buttons or AutoPay. Not only do you get paid faster, your clients have fewer late fees. And let’s not forget the added layer of security. Digital payment options, like ACH and credit cards, protect both you and your clients from the growing threat of check fraud. Everybody wins.

Better Communication and Fewer Collection Calls

Efficiency isn’t just about speed, it’s about connection. AR automation provides self-service portals where clients can access invoice histories, chat with you in real time and resolve disputes quickly. You can also automate payment reminders and tailor them to each client’s preferred communication style (email or text) – this is so much easier than collection calls that take so much time and are incredibly uncomfortable. Even better, when a usually punctual client is running late, AR automation lets you know so you can reach out proactively and maintain that trusted relationship.

Tech Helps Make You Better

Look, AR automation isn’t here to replace CPAs. It’s here to make us better. By automating time-consuming tasks, reducing errors and improving client communication, you position your firm for long-term success.

In a world where efficiency is king, AR automation is a must-have for accountants ready to step into the future. The question isn’t whether you can afford to adopt it. It’s whether you can afford not to.