Anchor provides an end-to-end automated billing and collections platform for businesses. The system manages proposals, agreements, automated invoicing, and client payments via ACH or credit card. This automation eliminates manual labor in accounts receivable, ensuring timely revenue collection and seamless accounting reconciliation.
Funding
$15M 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.
RVFounders
Product
Problem
Many businesses, especially those offering recurring services, face challenges with manual invoicing processes, leading to late payments, revenue leakage, and time-consuming reconciliation efforts. Tracking down payments and managing client agreements across multiple platforms can be inefficient and costly.
Solution
Anchor provides an autonomous billing and collections platform designed to automate the entire billing cycle, from proposal to reconciliation. The platform allows businesses to create interactive proposals and agreements that clients can sign digitally while providing their payment information upfront. Anchor then automatically generates invoices based on the agreed-upon terms, collects payments on time via ACH or credit card, and reconciles invoices with payments, syncing data with QuickBooks Online. This end-to-end automation eliminates manual invoicing, reduces late payments, and streamlines the entire billing process.
Target Audience
Anchor primarily targets accounting firms, bookkeepers, tax firms, and other professional service providers who bill clients on a recurring basis.
Features
- Interactive proposals and agreements with digital signature capture
- Automated invoice generation based on pre-approved client agreements
- Automatic payment collection via ACH or credit card
- Real-time data synchronization with QuickBooks Online
- Client portal for accessing and managing agreements, invoices, and payments
- Automated payment reminders via SMS and email
- Team management features with role-based permissions
- Business dashboard for monitoring financial health and tracking key metrics
- Zapier integration for connecting with other business applications