Practice management software provider Ignition has introduced AutoCollect, its latest advancement to help small businesses eliminate late payments.
With AutoCollect, customers can automatically import and get paid for invoices created in their accounting software, including QuickBooks Online and Xero, directly within Ignition.
“We need to stop the cycle of service businesses having to negotiate twice; first for the contract, and then to get paid. Late payments hurt small to medium businesses, impacting the ability to make payroll, pay rent, or hire needed employees,” Greg Strickland, CEO of Ignition, said in a statement. “Our goal is to wipe out late payments for good and help businesses reclaim their cash flow. AutoCollect is the next piece of the puzzle in Ignition’s payments suite to make getting paid for every invoice as easy as possible.”
More than half of U.S. small businesses are not paid on time. Some industries suffer even more, with an Ignition study revealing that 94% of accountants and bookkeepers chase clients for late payments.
Ignition says AutoCollect helps professional services businesses overcome these challenges by:
- Auto-importing unpaid invoices into Ignition from their accounting software, including QuickBooks Online and Xero.
- Inviting clients in bulk to pay securely via an online portal.
- Providing the option to pre-save payment methods.
- Turning on automated collections for future invoices.
AutoCollect is the latest addition to Ignition’s payment features, such as collecting payment details upfront and pre-authorizing payments when clients sign a proposal, to help businesses better manage cash flow. Ninety-one percent of payments in Ignition are collected automatically to ensure customers get paid on time and eliminate accounts receivable, the San Francisco-based company says.
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