No more chasing payments: 3 ways to take the work out of accounts receivable

Sep 15

2 min read

Getting paid should be the easy part of making a sale. But as a business grows, accounts receivable can become a job in its own right. Invoices need to go out, payments need to be tracked, reminders need to be sent, and failed transactions need to be corrected.

Before long, someone is spending part of every week asking the same question: “Has this been paid yet?”

There is a better way to manage it.

1. Put Routine Billing on Autopilot

Not every billing task needs a person. Routine jobs like recurring invoices, payment processing, receipts, reminders, and reports can be automated.

This helps small to large scale businesses. Instead of starting from scratch each month, an effective system handles routine tasks and provides reports for staff to be informed.

Your team stays in control, but doesn’t have to spend time on every step, every month.

2. Make Getting Paid Part of the Process

Consider your customer making the payment before you send the invoice. Offering easy pre-authorized payment options makes billing easier and reduces manual follow-up meeting your customer expectations.

A good payment process fits into the customer experience. When payments are simple, your team has less to monitor.

Small changes here make a big difference as your customer base grows.

3. Know What Needs Your Attention

Automation doesn’t eliminate involvement. It’s about knowing what really needs your attention.

A good receivables process shows you payments, flags failed transactions, and helps your team act on issues quickly. Your staff focuses on exceptions, not checking every account.

Merchant Treasury takes this approach with Rondo, combining advanced notices, billing automation, payment processing, receivables management with support from trained specialists and reports that help accounting.

What Could You Stop Chasing?

Take a look at your current process:

How much time does your team spend checking and following up on payments?
How much of that work could be automated?
Are customers able to pay in a way that works for them?
Can you quickly see which payments need attention?

The answers can tell you a lot about where your receivables process could improve.

No More Chasing Payments

Accounts receivable doesn’t have to mean constant checking and chasing. With automation, payments are easier to manage and issues only come up when they need your attention. Your team spends less time on receivables and more time on the business.

No more chasing payments. Just a smarter way to keep billing and cash flow moving.

Here's how we can help

If you're looking to simplify billing, improve cash flow, and reduce manual administration, Merchant Treasury helps Canadian businesses automate their recurring billing, payment processing, and receivables management.

Visit merchanttreasury.com to learn how smarter automation can give you more time to focus on growing your business.