There is no fixed quotation; it entirely depends on your firm’s size, daily operations, and requirements.
Reliable, Fast & Scalable Accounts Receivable Services
Get control over cash inflow and credit transactions to help you reduce customer churn with experts’ intervention. Stay compliant to reduce Day Sales Outstanding with advanced technology.
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What Are Accounts Receivable (AR) Services?
Accounts receivable outsourced services involve the process of handling collections, generating faster payments, and fostering the relationship between the business and customers. By availing of outsourced AR services, you get access to a wide range of software, tools, and an organized workflow to carry out operations.
Ultimately, it would bring a positive impact on cash flow and the ability to track receivables. Moreover, accounts receivable services give expert insight on categorizing customers based on time and previous outstanding invoices.
Why Outsource Accounts Receivable?
The foundation of day-to-day operations and existence relies on cash flow. Many businesses and industries operate on credit-based transactions, making it difficult to manually handle such a bulk on a daily basis.
Outsourcing AR services to a prestige CPA firm in the US, like Accounting Byte, lets you tap automation and accuracy in invoice handling. Compared to an in-house accounting team, outsourcing gives you over 40% reduction in cost incurred and significantly boosts the effectiveness.
It not only lets you streamline your records and data but also gives you ample time and resources to invest in your business scalability.
Some additional benefits that come with outsourcing accounts receivable services are:
Improved cashflow
Lower DSO
Faster cash recovery
Better working capital
Reduce aging receivables
Why Choose Accounting Byte for AR Outstanding?
It’s no longer about tracking payments; it’s about ensuring steady growth, maintaining sufficient funds, and mitigating risks. Accounting Byte AR outsourced services provide extensive coverage over the crucial domains that position your business for long-term success.
By collaborating with Accounting Byte AR services, you are bringing benefits like:
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Reduced DSO and aging receivables.
Effectively improves cash allocation.
Provides a transparent reporting and analytics dashboard.
By tapping into an optimized workflow and robust technology, you are saving a lot of your operational costs.
Allows you to adhere to financial regulations without hampering accuracy.
Certifications & Compliance
The team behind accounts receivable services strictly aligns with the US certification and norms.
ISO 27001 Data Security Certified: We ensure to our clients that we follow the ISO 27001 protocol, which means all the customers’ details are regularly audited and checked for risk management.
SOC 2 Type II Compliant: After passing through rigorous checks and penetration tests. We can proudly state that we are providing a gold standard data integrity service.
GDPR-Compliant: Get the full General Data Protection Regulation (GDPR) compliance, so every transaction is handled with care.
Secure Cloud Base: Every transaction, approval, or adjustment is logged with time stamps on cloud storage. To access them, there is a layer of 2-factor authentication, so only authorized personnel can supervise the data.
Our AR Service Offering
We understand how operating businesses and managing the accounting sector, especially in the United States, hand in hand is a tedious job. And accounts receivable is one of those sectors that is not just about collecting overdue payments, but managing human relations as well.
Timely invoice generation and delivery.
Taking follow-up on payment via call or email.
DSO reporting and insight.
Handling ingredients inflow of cash and providing a secure payment gateway.
Addressing or resolving any kind of dispute.
Looking into the creditworthiness of clients and setting limits.
By keeping the intricacies in mind, the wide range of services included in AR outsourcing are:
Industries We Serve
Healthcare
Integrating AR services in healthcare ensures proper flow of cash and reduces the risk of denial and claim rejection.
SaaS Tech Startup
Helps with automating invoices and billing cycles. Moreover, it reduces the chances of generating bad debts.
Retail & E-Commerce
Aids in timely payments and tracks the status. Moreover, gives an overview of the cash flow, allowing businesses to have a better look at the condition and assess risk.
Logistic
Get the optimized invoice processing firmware that efficiently manages credit term deliveries and identifies potential risk with the clients.
Real Estate
Robust in managing bad debts and dispute resolution for financial planning and budgeting.
Educational Services
A comprehensive solution to collect tuition fees and other outstanding charges to ensure adequate funds for daily operations.
Common AR Challenges and Our Solution
| Challenges | Our Solution |
|---|---|
| Dynamic Cashflow | Gives the forecast-driven collections strategy with aging reports |
| Payment Delay | Automated reminders and follow-up for an effective collection process |
| Lack of Precise Data and Insights | Access to advanced KPI dashboards: DSO, aging, collections efficiency |
| Errors in Invoices | Centralized dashboard with systematic records |
| Dispute | Effective resolution workflow and documented trail |
How Our AR Process Works?
Thanks to the up-to-date system and technological breakthrough, the entire handover process at Accounting Byte is as seamless as it can be. And it allows businesses to focus on their crucial area without worrying about their financial status.
Here is the detailed AR service process:
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Generate Invoices:
01
Firstly, invoices are generated automatically via ERP and sent to customers.
Tracking:
02
We closely monitor payment updates and accounts instantly.
Follow-up:
03
Once the payments are received, we send a follow-up on overdue payments.
Handle Disputes:
04
In case of any disputes or issues with invoicing, we deal with them in a professional and polite manner.
Follow Up on Overdues:
05
The rest of the due payment is received by our team in several ways, such as cash, check, or bank transfer. Furthermore, these funds are further allocated.
Reporting:
06
This cycle is repeated every month with the report, summarizing the accounts receivable status.
Monitor Aging Report:
07
We regularly ensure and supervise the aging report in order to identify outstanding receivables.
Tools & Integration
To bring professionalism and precision to AR services, we leverage some of the best tools in the market. Your data and out resources and our resources can seamlessly integrate with software like:
ZOHO
QuickBooks
FreshBooks
Xero
Salesforce
Stripe
Razropay
Paypal
ZOHO
QuickBooks
FreshBooks
Xero
Salesforce
Stripe
Razropay
Paypal
ZOHO
QuickBooks
FreshBooks
Xero
Salesforce
Stripe
Razropay
Paypal
Client Success Stories
SaaS Based Firm
Challenge
Challenge
One of the esteemed SaaS companies faced a serious cash flow hindrance due to delayed collections and a lack of rigorous collection methods. Their average Days Sales Outstanding (DSO) stood at a worrying 45 days. It adversely affected their ability to reinvest in growth.
Solution
Solution
The ideal thing to do was to implement a structured AR workflow with automated follow-ups. Followed by real-time tracking and customer-specific reminder schedules, and escalation paths.
Result
Result
The DSO of 45 days was reduced to 18 days in three months. Saw a significant growth of 95% in collection rate, enabling more accurate projection of cash flow.
Retail Store Owner in the US
Challenge
Challenge
A retail store managing a high volume of daily transactions was struggling with manual invoice generation and follow-ups. AR processes were consuming too many team resources and impacting accuracy.
Solution
Solution
We came up with automated AR invoicing and a centralized communication channel with customers.
Results
Results
By the automated process, over 100+ invoices weekly with 99.9% accuracy were generated. Resulting in improved customer relationships with faster dispute resolution.
Client Testimonials
It would be wrong to say that their AR team is an outsourced member; throughout our collaboration, it felt like an in-house accounting team. We had full transparency and updates on what’s going on, their tools were capable of 100+ invoicing per day with zero errors and systematic display.
Andrew Murphy
(5)
After deciding to switch to Accounting Byte, we witnessed 3× growth in cash collection and a better customer retention rate. Let’s be honest, collecting due payment can never be professional, but they showed us exactly how it’s done and completely eliminating bad debts.
Elizabeth Stan
(5)
Invoicing and sending reminders have now been easier with the smartest minds at Accounting Byte. The dedicated manager, 24/7 customer support, and automated tools have been the greatest arsenal for us to ensure adequate cash flow for operations. Very thankful to discover such a great asset for our company.
Ethan Quill
(5)
Seamless Onboarding – Zero Downtime
Whether you have existing software, NetSuite, QuickBooks, SAP, Xero, Zoho, HubSpot, or Salesforce, our team ensures seamless integration with your existing tech stack.
Experience zero downtime in addition to:
Thanks to the close monitoring and smooth interwoven system between various departments, our accounting outsourcing agency in the US is ready for the unexpected.
Free AR audit and migration plan
Integration of tools with ERP/CRM
AR team assigned and SOP setup
Quick assistance for the first 7 days for accuracy.
Our Additional Services
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Frequently Asked Questions
Q1. What’s the cost of your AR outsourcing service?
Q2. Will you contact my customers directly?
Yes, we will be contacting your clients under your brand name and tone to maintain professionalism and integrity.
Q3. Can I outsource only the collection & reports?
Yes, Accounting Byte does offer a customized package option where you can pick services as per your needs.
Q4. What if a customer disputes an invoice?
In such scenarios, we handle the situation with clear communication and a professional manner. The escalation only takes place if the matter is out of control, which happens rarely.
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Get the quotation in just minutes by simply filling out the contact us form
You can visit our branch office at
Address :
27 Old Gloucester Street, London, United Kingdom, WC1N 3AX
Phone Number :
+44 7418376925
Email : contact@accountingbyte.com