Payroc and Biller Genie Team to Streamline AR for QuickBooks Merchants

Payments technology firm Payroc has launched a partnership with accounts receivable automation platform Biller Genie.

The collaboration, announced Monday (Jan. 13), is designed to provide a more streamlined payment experience for QuickBooks merchants.

“By integrating with Biller Genie, we’re providing a complete accounts receivable solution to our sales partners and their merchants,” James Derby, Payroc’s executive vice president of product commercialization, said in a news release. “This partnership will help merchants automate key processes, save on processing fees, and focus on growing their business.”

According to the release, the partnership lets QuickBooks merchants automate their invoicing and payment collection processes. Benefits include automated invoicing, payment reminders and collections, as well as Payroc’s RewardPay Choice, which lets merchants lower processing fees by passing a portion of the costs to customers via a compliant surcharge program.

The partnership comes as companies are seeking smarter and faster accounts receivable (AR) solutions, as PYMNTS wrote last fall.

“As companies grow in size, they’re often manually trying to match payments and remittance through Excel spreadsheets and things that aren’t that efficient,” Corrie DeCamp, chief product officer at Billtrust, told PYMNTS during a interview for the B2B Payments 2024 event.

DeCamp argued that many businesses are still wrestling with inefficiencies of manual processes, which can cause delayed payments, high error rates and increased operational costs.

She stressed that compared to legacy AR workflows, embracing automation technologies can help firms bolster their financial resilience and operational efficiency. DeCamp added that automation is vital for faster and more predictable cash flow, fewer day sales outstanding (DSO) and a stronger financial position.

Meanwhile, research by PYMNTS Intelligence shows the mounting challenges posed by manual AR systems, with 59% of American businesses linking poor cash flow and forecasting capabilities to outdated methods.

“Companies are increasingly overwhelmed by the volume of invoices, with projections suggesting a 46% increase in invoice volumes over the next three years,” PYMNTS wrote. “This impending crisis is underscored by the fact that 35% of firms have not automated their AR processes and 24% still rely on outdated spreadsheets. The resulting inefficiencies can cripple organizations, leaving them vulnerable in a digital-first economy.”

But despite the obvious need for automation, many companies are reluctant to adopt new systems. For example, 96% of mid-sized firms face hurdles in switching to AR automation, mainly due to cost concerns. Half of these firms have held off on automation plans due to the major financial investment required.