The InvoiceSherpa Blog

Accounts Receivable Automation Solution Costs: Is it Worth Investing in AR Automation?

If you’re contemplating investing in a billing automation system but are hesitant because of the accounts receivable automation solution costs, we’re here to show you why it’s one of the best decisions you can make for your business.

The benefits of AR automation are undeniable, from accelerating your cash flow cycle to reducing frustrating and costly errors in accounting, enhancing client relationships, and more. We’re fairly certain you’ll see a tangible ROI in the long run.

The best part? Our accounts receivable automation software is more affordable than you may have thought. It offers a suite of tools to streamline your financial management starting at just $49/month.

Learn more about the factors influencing your expected AR automation solution annual price below and how you can get started with the best AR automation software today.

Overview of AR Automation

So what is AR automation exactly? It’s the use of technology to streamline and manage the entire process of tracking, billing, and collecting payments from customers. 

You’re able to automate everything from sending and following up on invoices to reconciling payments in your accounting software. These solutions are designed to dramatically reduce manual input in managing accounts receivable, increasing efficiency and accuracy.

We recently wrote about accounts receivable challenges and how automation can help. Traditional approaches involve repetitive and time-consuming tasks prone to human error. This causes delays in invoicing and payment collection, resulting in cash flow issues for businesses. 

Manual handling of AR processes can be costly and inefficient too, as it requires significant administrative resources. While the concept of outsourcing to accounts receivable management services is appealing, most small and mid-sized businesses simply cannot afford it.

We’ll talk more about why it’s well worth the time and resources to learn how to automate accounts receivable in a moment. But you came here to learn about the accounts receivable automation solution costs, so let’s look at a few contributing factors.

Factors Influencing Accounts Receivable Automation Solution Costs

The price you pay to automate your company’s AR processes will depend on the size of your business, the features you’re looking for, the extent to which you need to integrate with other solutions, and whether you need to invest in support and training or not. Here’s an overview of the role each plays.

Size of Your Business

Costs typically scale with your business no matter what it is you’re talking about - AR automation is no different. However, the costs are not nearly as linear as they would be when you outsource AR.

Larger businesses with a high volume of invoices and transactions need more robust and scalable solutions, which can be more expensive. Conversely, smaller businesses with fewer transactions may find more affordable options that still meet their needs.

Think about how many invoices you send a month, as that will serve as a great starting point for narrowing down your costs of automation.

Features and Functionalities

As you can imagine, more advanced features and capabilities will cost more compared to a basic automation solution. Sophisticated software like InvoiceSherpa offers all of the following:

If you’re just looking for something simple that you can use to send out invoices, you’ll probably pay lower accounts receivable automation solution costs. 

But if you want something that automates everything from the moment you generate an invoice all the way to accounts receivable reconciliation, it will cost more - but it will save you tons of time and resources along the way!

Integration Requirements

Integration can enhance your AR process efficiency, but it may also add to the cost. This is one of the accounts receivable automation best practices, though - take a look and make sure the software you’re considering supports your current accounting, CRM, and ERP systems.

You may also want to integrate directly with payment processors through Stripe, PayPal,, and more. It’s ideal to have all aspects of your financial management system connected.

Support and Training

Part of what makes InvoiceSherpa so appealing is that you won’t need extensive training to maximize the benefits of the software. It’s one of the most intuitive solutions on the market.

But with other AR automation systems, you may need to invest in additional support and training to empower your team. These are just one-time costs, but they should still be considered. Larger enterprise accounts may find it beneficial to pay a bit more for a dedicated account manager as well.

Subscription Models

You’d be amazed at how much you can save annually by paying for the whole year upfront rather than on a month-to-month basis. This does require a bit more capital, of course, but you could trim up to 20% from your accounts receivable automation solutions costs!

What is the AR Automation Solution Annual Price?

While there are many moving pieces, we can help you narrow your expectations for an AR automation solution annual price. We’ll look at the pricing model for InvoiceSherpa, which is widely considered to be the best automated invoice processing software.

All plans feature custom scripting and scheduling along with the ability to integrate with payment and accounting software. It’s also worth noting that these are the monthly prices - you can reduce the AR automation solution annual price by paying for the whole year upfront:

This is probably a pleasant surprise for you, as you may have been expecting to be met with higher costs to harness the power of integration. 

For context, you’d pay a minimum of $500/month and up to $7,000/month to outsource AR. You’d also lose some level of control over your financial management. There’s also the risk of human error, still. 

That’s why we strongly believe investing in accounts receivable automation is one of the best decisions you can make for your company. 

Why This is One of the Best Investments You Can Make in Your Business

If you’re still on the fence, hear us out. The AR automation solution annual price is worth every penny. Here’s why… 

Long-Term Cost Savings

Traditional AR management requires extensive time and resources, from generating invoices to following up on payments. 

These tasks are streamlined through automation, freeing up your team to focus on higher-value activities. Reducing administrative overhead translates directly into long-term cost savings for your business.

Cash Flow Acceleration 

The biggest reason to invest in AR automation, though, is to put the problem of chasing down payments in the past for good. Our solution is proven to accelerate your cash flow cycle so you can fulfill ongoing debts or fuel business growth.

This is accomplished through automatic payment reminders that encourage clients to pay on time and late fees that act as an incentive to avoid procrastination. The best part is you don’t have to lift a finger to do all this. 

Reduction in Errors

AR automation minimizes the risk of errors in financial reporting by ensuring that data is accurately captured and processed. 

The system handles complex calculations and repetitive tasks with precision, reducing the likelihood of mistakes. This enhances the trust and reliability of your billing processes.

Improved Client Relations

It’s not just your business that benefits from AR automation - your customers will love it, too. Think about it, having to take a manual invoice and enter details on a website or call in to pay over the phone is a hassle. Wouldn’t it be better to get an invoice sent to your phone or inbox, where you could pay with the click of a button? 

Clients can also set up recurring billing so they don’t have to manually pay the same invoice every single billing cycle. Complete with their own personal portal to manage bills, they’ll thank you for making their lives easier.

Experience the ROI Firsthand With InvoiceSherpa Today!

InvoiceSherpa delivers a tangible ROI to businesses struggling with cash flow problems and looking to bring down operating costs associated with financial management. The results speak for themselves:

You get paid faster while trimming the costs of manual AR management. You’ll also stress less about financial clarity since you’re eliminating human error. Your clients will enjoy a more streamlined payment process themselves, too!

Our software puts you in complete control with intuitive customization features, from the invoice late fee wording (along with the ability to automatically apply the maximum invoice late fees by state) to automatically scheduled overdue payment reminder email or SMS notifications.

Customers can pay directly from the invoice with their credit card or by ACH. They even get their own dedicated portal to view and handle all outstanding invoices, complete with setting up automated billing for repeat purchases.

Integrate with all your existing solutions in a snap, be it Quickbooks, Xero, Clio, LawPay, or anything in between. As soon as a client pays the cash is reconciled into your accounting software.

If you’re still not sure the accounts receivable automation solution costs are justified by the benefits, take advantage of our 14-day free trial and see what you’re missing out on. Get started improving your financial management today with InvoiceSherpa!

Bringing Our Accounts Receivable Automation Solution Costs Guide to a Close

It’s clear that the AR automation solution annual price is well worth it. This strategic move generates long-term cost savings, improved cash flow, reduced errors, enhanced client relations, and operational efficiency. The only thing left to do now is see what a dramatic difference it can make in your business.

We have more small business accounting tips in our blog like how to send an invoice to collections, how to find accounts receivable, demand for payment letter, unbilled receivables, and forecasting accounts receivable

But whether you’re seeking the best landscape billing software, the best legal invoicing software, or anything in between, InvoiceSherpa is here to help. The value and ROI of AR automation through our solution are proven. Leverage our software’s abilities today!

July 3, 2024

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