Arrears provides an AI-driven accounts receivable platform that consolidates AR data and automates invoicing processes, reducing average collection time from 24 days to 15 days. The solution addresses inefficiencies in cash flow management and enhances customer engagement through streamlined communication and payment options.
Funding
Funding not disclosed
Founders
Product
Problem
Many companies face challenges in managing accounts receivable (AR) due to siloed data, manual processes, and outdated payment options, leading to inefficiencies in cash flow and prolonged collection times. This results in increased administrative overhead, higher error rates, and a poor customer experience.
Solution
Arrears is an AI-powered accounts receivable platform designed to consolidate AR data and automate invoicing processes, thereby accelerating payment collection. The platform connects all AR data into a single place, providing finance teams with a comprehensive view of their receivables. By leveraging AI, Arrears automates AR tasks, reduces manual errors, and enhances communication with customers through personalized campaigns and streamlined payment options. This leads to improved cash flow predictability and a better overall customer experience.
Target Audience
Arrears primarily targets finance teams and businesses of all sizes that struggle with inefficient accounts receivable processes and seek to improve cash flow management.
Features
- AI-powered automation of invoicing and AR processes
- Centralized platform for connecting and managing all AR data
- Personalized communication campaigns to engage customers
- Streamlined payment options for easy and fast payments
- No-code setup for easy implementation and management
- Integrations with QuickBooks, FreshBooks, Xero, Stripe, NetSuite, and CRM systems
- AI-driven campaign optimization for improved results