Transforming accounts receivable with the power of artificial intelligence

Improve your efficiency with AI-powered insights and streamline your operations for growth. Modern CFOs and AR teams now have the tools to evolve the role of accounts receivable within their organizations.
See how our solutions work together
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Artificial intelligence (AI) is helping businesses achieve long-term success

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Artificial intelligence (AI) is taking the world by storm. Over the past few years, the application of AI in the finance industry has rapidly increased and is expected to continue growing. The technology and its benefits are no longer a great unknown to the majority; instead, we have seen firsthand the ability AI has to automate routine tasks and enable businesses to make smarter, data-driven decisions and achieve long-term success.

As we look to the years ahead, we have reason to believe AI can streamline accounts receivable processes and provide numerous benefits. At Billtrust, we’ve started to incorporate AI and machine learning in some of our products, and we’re constantly monitoring tools and frameworks that make the daily lives of CFOs and AR teams a lot simpler by enhancing team efficiency while contributing to the cash flow of the business.

As we gaze into the future, it becomes evident that AI holds immense potential to streamline accounts receivable processes and deliver a multitude of benefits. At Billtrust, our goal is to enhance team efficiency while positively impacting the cash flow of your business and driving meaningful customer experiences.

Benefits of AI and machine learning in accounts receivable

Artificial intelligence (AI) is taking the world by storm. As we look to the years ahead, we have reason to believe AI can streamline accounts receivable processes and provide numerous benefits.
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When AI meets AR

AI has the ability to automate routine tasks and enable businesses to make smarter, data-driven decisions. It also has the potential to streamline accounts receivable processes and deliver a multitude of benefits. Learn how Billtrust products can improve your AR processes with AI.

See it in action
  • Delegate tasks icon

    Delegate tedious, routine tasks

    Let AI handle data entry, invoice processing, or manually sorting out collections
  • Digital payment icon

    Focus on digital payment adoption

    Turn check-paying customers into electronic-paying ones
  • Electronic extraction icon

    Electronic extraction

    Gather customer remittance data from multiple sources
  • Maximize AR Productivity

    Maximize AR productivity

    Increase exception processing time for your AR team
  • Apply cash faster icon

    Apply cash faster

    Reduce open invoices with machine learning
  • Prioritize risks icon

    Prioritize level of risk

    Emphasize importance of level of risk in collections
  • Receive alerts icon

    Receive alerts

    Get automated alerts in case invoices are overdue
  • Cash flow icon

    Understand near future cash flow

    AI provides accurate cash forecasts
  • Personalized experience icon

    Create a personalized experience

    Cater to team members with prioritized work lists

Shift to a future-oriented mindset

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To stay ahead and make informed decisions, it is imperative to embrace the transformative potential of AI and data analytics.

By leveraging AI and advanced analytics, you can shift from a retrospective approach to a future-oriented mindset, enabling you to base your decisions on real-time information rather than relying solely on historical data.

Achieve more with smarter cash application

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With Billtrust Cash Application, your organization’s ERP is like a home. It’s built to support the unique requirements of your business and processes. Our custom machine learning model doesn’t just enable our solution to master your ERP - it allows it to master the way you use your ERP.

Billtrust Cash Application delivers a tailored cash application experience based on how your team works with your systems and data, and provides the flexibility and accuracy that unique processes demand. Learn more about our Cash Application solution, the algorithm, and what’s included in our custom machine learning model.

How Billtrust Collections predicts customer behavior

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With Billtrust Collections you can leverage AI to integrate collections with cash forecasting. Tap into the historical payment behavior of your customers, predict when invoices will be paid, and accurately forecast cash flow.

The advanced AI engine is designed to recognize the pattern of customers’ payment activity, provide in-depth payment behavior predictions, and use these predictions to help predict cash flow.

Best practices for a successful AI journey

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When it comes to AI, there's no turning back. It will revolutionize businesses and processes, undoubtedly for the better. However, have you ever pondered how to maximize AI's potential and leverage your data intelligently? The key lies in posing the right questions to equip yourself for AI implementation and extract the maximum benefits from your solution.

1. Have a clear understanding of your organizations needs and goals

It’s important to have a clear understanding of your organization’s needs and goals before weaving it into your processes.

2. Make sure your AR data is digitized

Getting data of the highest quality should be a top priority. Make sure the datasets you will use are healthy, prepared, and validated before you sign them off to use for any AI efforts.

3. Understand the importance of a data lakehouse

You should have a clear understanding of your data infrastructure. There should be a streamlined process set up to collect and integrate data from various sources.

Arm your accounts receivable with the AI tools to succeed

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One of the most intriguing aspects of AI's value in the order-to-cash cycle is how it enhances the role of AR professionals. AI  has the potential to empower them, enabling them to be more effective and efficient in maintaining their organization's cash flow, especially during times when external challenges pose significant threats.

Billtrust is at the forefront of the digital transformation of accounts receivable. We offer the solutions, and partner with you to help your buyers on their road to adopt digital tools to business with you. Schedule a demo with an expert to improve your AR processes with our AI driven solutions.