Top 6 Accounts Receivable Software Providers with a Payment Portal

If you’ve decided that you want to move ahead with accounts receivable software, you might want to consider looking into an A/R software provider with a client payment portal. It’ll help you provide your customers the best payment experience possible while saving both costs, time and reducing errors. But not all client portals are equal, and it’s important to understand what needs each client portal addresses and how it helps achieve the goals of the overall A/R software.

What is a Payment Portal in Accounts Receivable Software?

A payment portal in accounts receivables software enables customers to pay their invoices directly 24-7, on the Internet. Since the customer doesn’t need to depend on the availability of their supplier and the supplier doesn’t have to wait for the payment to appear in the bank, a payment portal facilitates faster payments and payment processing. Because payment portals can be used for large and complex payments, they usually utilize a high level of security. In addition, they are often customizable according to a customer’s specific needs.

While payment portal software is a general term that can be used in B2C and B2B contexts, customer payment portal software is a B2C solution mostly for small business owners. Client payment portal software, however, is intended for B2B customers.

Key Features of the Payment Portal

Payment portals for B2B businesses help automate a complex payment process that traditionally involves manual steps. This helps eliminate errors and facilitates faster payments and reconciliation. When looking for an accounts receivable software provider with a client payment portal, you’ll want to ensure it offers specific features.

These features should include:

• Integration with your financial and other business systems. This should include your ERP, accounting software, payment processors, payment gateways, CRMs, and multiple banks. The more financial systems it can connect with, the potential for more accurate financial records in real time.
• Multiple types and methods of payments. Customers should be able to pay invoices using ACH, local bank transfer, wire transfer, credit cards, and electronic funds transfer (EFT). Flexible payment methods enhance the customer experience.
• Automation of the payment approval process. Automate approval notifications, payment routings, and the reporting of status approvals while improving accuracy and reducing costs. Payments that are flagged for a discrepancy can be rooted through another process.
• Delivery of real-time status of payments. Since the payment approval process is automated and allows customers to pay invoices 24-7 across different time zones, it facilitates faster payments.

Best Accounts Receivable Software with a Client Portal

While there are many options for accounts receivable software that include a client payment portal, it’s always good to start with a recommended list and continue on from there.

Here is our list:

1. Gaviti

Gaviti’s automated A/R management platform automates and optimizes the entire invoice-to-cash lifecycle. Its client payment portal is one element of an A/R management and automation platform that optimizes the entire process. Gaviti delivers a cash application that has 100% accuracy matching invoices to payments when customers use its client-facing Self-Service Payment Portal. Gaviti also offers autopay, partial payments and has a “promise to pay” option that updates other workflows to reflect the updated payment terms.

2. Upflow

Accelerate payments with a modern customer portal that offers a number of flexible payment methods such as options for partial payments. Get automatic payment reconciliation and communicate with customers through the portal to proactively resolve disputes faster and get a real-time view of payments.

3. Blackline

As an A/R software targeted towards enterprises, it focuses on more efficient financial operations with integration of systems such as enterprise-level ERPs and the ability to handle complex payments. Its solution includes a client payment portal that is part of a more comprehensive A/R solution that includes account reconciliation, cash application, A/R intelligence, credit and collections management.

4. Versapay

VersaPay’s client portal is part of a larger A/R solution, and helps to highlight the company’s ability to deliver seamless communication in real time between buyers and sellers for invoice management, dispute resolution and payment processing. It targets mid to large-sized companies in multiple industries such as manufacturing, wholesale, distribution, and services.

5. Invoiced

Invoiced serves SMBs in a variety of industries with an an end-to-end accounts receivable automation platform with a client payment portal that offers automated reminders and customizable payment options such as making advanced payments, applying open credits, purchasing subscriptions, and viewing and searching all invoices, estimates, credit notes, and payments.

6. HighRadius

HighRadius delivers an A/R platform that leverages AI and machine learning to automate and optimize the accounts receivable process. Its client payment portal offers seamless integration with collections, credit, cash application and disputes. It also supports complex customer hierarchies while fast-tracking customer onboarding. It targets both large enterprises and multinational corporations across a broad range of industries, including retail, manufacturing, energy, and consumer goods.

How Gaviti Helps Automate the Payment Approval Process with a Client Portal

Gaviti’s invoice-to-cash A/R management and automation platform delivers a comprehensive solution that optimizes the entire A/R lifecycle, including: invoice distribution, credit monitoring, cash application, and disputes and deductions.

Its Self-Service Payer Portal includes:

• Multiple payment types and methods. In addition to supporting multiple currencies and bank accounts it also supports payment through credit and debit cards, local bank transfer, ACH/echeck, wire transfer and electronic funds transfer. Gaviti users can also opt to put some of their customers on auto-pay and have funds automatically deducted when an invoice is due.
• Enhanced customer experience. Give your customers a user-friendly payment experience with automated payment reminders that encourages timely payments.
• Integrated payment gateways. Integrate leading secure payment providers such as BlueSnap and Stripe – or the payment gateway of your choice to ensure your customer’s payments are processed securely.
• Automated payment reconciliation. When connected with Gaviti’s A/R invoice-to-cash management platform, you can also match incoming payments with the corresponding invoices in real-time, reducing manual effort, improving accuracy, and providing you with up-to-date visibility into your cash flow.
• Reporting and analytics.  All payments made via the portal are automatically reflected in Gaviti’s reports and recognized by your ERP when using Gaviti’s payment portal. When analyzed along with other A/R data, it can help you track payment trends, identify patterns, and gain insights into your overall collections strategy.

Want to learn more about how Gaviti can help you streamline the entire A/R process? Speak to a Specialist today! 

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