Recovr provides a platform for automated invoice tracking and debt collection, integrating with existing accounting software to streamline the management of accounts receivable. The service enables businesses to reduce overdue payments through automated reminders and legal recovery options, ensuring faster cash flow with minimal effort.
Funding
$925K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses, especially small and medium-sized enterprises (SMEs), struggle with managing accounts receivable, leading to delayed payments and cash flow issues. Manually tracking invoices and chasing overdue payments is time-consuming and inefficient, diverting resources from core business activities. Traditional debt collection methods can be costly and damage customer relationships.
Solution
Recovr is a platform designed to automate invoice tracking and debt collection, integrating directly with existing accounting software to streamline accounts receivable management. The platform automates payment reminders to clients based on custom configurations. In cases where amicable recovery is insufficient, Recovr facilitates initiating legal action through integrated partnerships with lawyers and bailiffs. Recovr provides clients with a dedicated portal to view their documents, settle invoices online, or make payments via QR code. The system also automates bank reconciliation.
Target Audience
Recovr primarily targets SMEs that seek to automate and optimize their accounts receivable processes, reduce overdue payments, and improve cash flow.
Features
- Automated invoice tracking and management
- Customizable and automated payment reminder sequences
- Client portal for 24/7 access to invoices and payment options
- Online payment processing and QR code payment options
- Automated bank reconciliation
- Integration with legal partners for debt recovery (lawyers and bailiffs)
- Real-time performance monitoring and reporting with key performance indicators (KPIs)
- Debtor CRM functionality
- Option to send formal notices by registered mail with one click