Predict payment behavior of your customers

Establishing an efficient collections program is of utmost importance for any organization, regardless of the economic conditions it operates in. Recent years have shown us the risks associated with delayed payments, highlighting the increasing significance of the collector’s role.

Businesses are operating in an environment where maintaining a steady cash flow has never been more crucial. The encouraging news for your collections and AR team is that AI holds the potential to assist you in surmounting these challenges and helps you be more efficient and proactive in your approach.

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.

Billtrust Collections’ 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.

Recognize the pattern of customers’ payment activity

One of the advantages of AI is that it learns and improves over time. An algorithm can predict that a payment will arrive tomorrow, but if the payment is not received tomorrow, the algorithm learns and will no longer take this feature into account – ultimately taking cash forecasting to the next level.

Stay ahead of potential cash flow issues

With the ability to analyze data from a variety of parameters, you can gain a powerful, real-time window into your cash flow and the ability to identify where your receivables are. This allows you to stay ahead of potential cash flow issues.

Shape credit choices

Moreover, when your business relies on a credit revolver to meet obligations, you can leverage cash forecasting to help your treasury department know how much money they need to borrow. This is especially important when you have seasonal dips in your revenue based on the nature of your business.

“No matter the economic circumstances, it’s clear that AI continues to have a big impact on the collections space and credit management. Although it will never replace the invaluable work of a collector, it has the potential to make them much more effective and efficient by boosting their ability to maintain their organizations’ cash flow at a time when external challenges pose enormous threats.”

John Floyd, Senior Business Consultant Billtrust in Payments Journal