Maintaining a steady cash flow is critical for the success of any small business. Effective collections management ensures that businesses can track and collect payments efficiently, reducing the strain on liquidity. With collections software for small businesses, companies can streamline their invoicing, automate follow-ups, and simplify accounts receivable management.
Here are some of the top collections software for small business options that can help automate processes and ensure timely payments:
Bill.com is a widely used collections software for small businesses that aims to streamline both accounts payable (AP) and accounts receivable (AR) processes. It simplifies collections by automating invoicing and tracking payments. With custom workflows, Bill.com enables users to set up payment approvals, reducing manual efforts and ensuring smooth payment processes.
Additionally, Bill.com integrates with major accounting software such as QuickBooks, Xero, and Sage, making it easy for businesses to connect their collections processes to their broader financial systems.
Key Features:
Bill.com is a comprehensive collections software for small businesses looking to automate both their payables and receivables.
CollBox is tailored for businesses that struggle with overdue payments and need help with debt collection. This collections software integrates seamlessly with accounting tools like QuickBooks and Xero, allowing businesses to automatically identify overdue accounts and initiate the collections process.
A key feature of CollBox is its access to professional debt collection agencies. It only charges businesses when collections are successfully recovered, making it a risk-free option for small businesses dealing with unpaid invoices.
Key Features:
CollBox is perfect for businesses that need extra support managing overdue accounts without incurring upfront expenses.
Invoiced is a robust collections software for small businesses tailored for those that depend on recurring billing. It automates the entire collections process, from sending invoices to tracking payments and setting up subscription billing. With its dunning management feature, Invoiced helps businesses stay on top of overdue invoices by automating follow-ups.
The platform integrates with major payment gateways and accounting software, making it a flexible and scalable option for small businesses that need to manage recurring payments.
Key Features:
Invoiced is an excellent choice for businesses with recurring payments, offering robust automation to manage accounts receivable efficiently.
VersaPay focuses on improving the customer experience by providing tools for businesses and clients to collaborate on invoicing and payment terms. With this collections software for small businesses, customers can interact directly with their invoices, ask questions, and negotiate payment schedules. This collaborative approach helps resolve payment issues faster and strengthens customer relationships.
In addition to automated invoicing and reminders, VersaPay allows businesses to offer custom payment schedules, giving customers more flexibility. It also integrates with popular accounting platforms, making it a well-rounded collections tool.
Key Features:
VersaPay is ideal for businesses that value customer communication and want a flexible approach to managing collections.
Mochi is a collections software for small businesses, specifically designed for small and medium-sized businesses (MSMEs) in the Philippines. It offers a secure customer payment portal that integrates with local payment systems like Xendit and PayMongo. Mochi automates invoicing, recurring billing, and payment reminders, helping businesses streamline their collections process.
With real-time financial reporting, Mochi provides insights into accounts receivable and cash flow. Its customizable workflows make it a versatile choice for businesses of all sizes.
Key Features:
Mochi is an ideal solution for Filipino businesses that need a localized, secure platform to manage collections efficiently.
Efficient collections software for small businesses is essential to ensure timely payments, reduce manual errors, and maintain a healthy cash flow. Whether you need to automate invoicing, manage subscriptions, or improve customer collaboration, Bill.com, CollBox, Invoiced, VersaPay, and Mochi provide excellent solutions to meet different business needs.
By choosing the right collections software, companies can save time, reduce payment delays, and focus on growth.
Mochi Solutions is a billing and collections platform designed to help Filipino businesses get paid on time, every time. By digitalizing the invoicing process and automating repetitive tasks, we empower businesses to focus on growth.
