Managing accounts receivable (AR) efficiently can mean the difference between healthy cash flow and constant financial strain. The right AR software automates collection tasks, accelerates payments, and gives you clear visibility into who owes what and when.
Whether you're a growing business looking to streamline your AR process or an established company seeking better financial insights, modern AR solutions can transform how you manage customer payments and cash flow.
Key features of the best accounts receivable software
The days of manually creating invoices and chasing payments are over. Here are the essential features that set the best accounts receivable solutions apart.
Automated invoice generation and delivery
Modern AR software should automate the invoicing process, from creating professional invoices using customizable templates to invoice delivery via your customers' preferred channels.
The best solutions offer automatic invoice creation from sales orders or time entries, along with the ability to generate bulk invoices for recurring billing.
Multi-currency support is essential for businesses operating internationally, and the system should easily capture and display supporting documentation.
Intelligent payment tracking and reminders
The best AR solutions automate the work of following up on invoices and tracking payments.
Your software automates payment reminder schedules based on invoice aging, with automatic late fee application and real-time payment tracking.
For faster payments (and happier customers), look for integration with multiple payment methods, including ACH, credit cards, and digital wallets.
Real-time reporting and analytics
Effective AR management requires clear visibility into your receivables.
Your software should provide customizable dashboards showing key AR metrics, along with detailed aging reports and collection forecasts.
Customer payment trend analysis helps you anticipate and prevent collection issues, while cash flow projections and planning tools support better financial decision-making.
The ability to generate and distribute reports automatically ensures everyone stays informed without manual effort.
Invoice financing for better cash flow control
Modern AR software should help you access your receivables when you need them.
Look for platforms that offer invoice financing options right within your AR workflow, letting you get paid immediately on select invoices in exchange for a small fee.
The best solutions give you control over which invoices to finance and make the process seamless, depositing funds directly into your account while continuing to manage collections on your behalf.
20 best accounts receivable software options
As of the date of this writing, here are 20 notable AR automation solutions that can help streamline your business finances. We define "best" AR software based on reviews from platforms like Capterra and G2, as well as research from our internal team. Our top picks are those that excel in efficiency, integration, and security, providing scalable solutions that enhance invoicing and payment processes for AR teams and finance leaders.
Rather than ranking them, we've listed them in alphabetical order. Each one excels in different areas, offering a unique mix of features. The best choice for your business will depend on your specific needs and workflows.
BILL
Offering dedicated accounts payable (AP) and AR automation as well as spend and expense management, BILL combines financial automation with intelligent cash flow management for small and mid-sized businesses looking to scale their financial operations efficiently.
With BILL, all new AP customers will now also receive access to BILL Accounts Receivables.
Billtrust
BILLTrust markets itself as a B2B order-to-cash platform focused on large enterprises, emphasizing its integrated billing and payment solutions alongside credit application automation.
BlackLine
BlackLine markets itself as an enterprise-grade financial operations platform for large organizations that need sophisticated reconciliation and financial close capabilities alongside their AR management.
Bottomline
Bottomline markets itself as a payments platform that includes AR automation as part of a broader financial operations suite for banks, financial institutions, and global enterprise operations.
Centime
Centime markets itself as a cash flow management platform, emphasizing cash flow visibility, reporting, and forecasting that includes AR, AP, and business banking.
Esker
Esker markets itself as a comprehensive order-to-cash automation platform, focusing on document process automation for mid-market to enterprise organizations.
FreshBooks
FreshBooks markets itself as a small business accounting platform designed specifically for service-based businesses and freelancers who need straightforward payment collection tools.
Growfin
Growfin markets itself as AR automation software for B2B finance teams with complex order-to-cash processes that are specifically looking to reduce days sales outstanding (DSO).
HighRadius
HighRadius markets itself as an enterprise-focused order-to-cash platform, emphasizing its machine learning capabilities for cash forecasting and collections optimization.
Invoiced
Invoiced markets itself as specialized B2B AR automation software that focuses specifically on reducing manual AR work.
Melio
Melio markets itself as a payments operations platform for both AP and AR, focusing on simplifying B2B payments and collections.
Plooto
Plooto markets itself as a payment automation platform that includes AR features, emphasizing its ability to streamline payment collection and reconciliation.
Quadient
Quadient markets itself as a broad platform for managing customer relationships, including AR communications as part of its customer experience solution.
QuickBooks Online
QuickBooks Online markets itself as a comprehensive small business accounting platform. It offers some AR features among its broader collection of financial management tools.
SoftLedger
SoftLedger markets itself as a general ledger for companies with multiple entities and complex reporting requirements, offering consolidated financial data in real-time.
Square
Square markets itself as an integrated payment and business management platform for small to medium-sized businesses, offering AR features as part of its broader commerce ecosystem.
Stax Bill
Stax Bill markets itself as a platform that specializes in automating recurring transactions, including billing, subscription management, payment collection, and reporting.
Xero
Xero is a global cloud accounting software made for small businesses and sole traders. Some AR features are included as part of the online accounting platform.
Xledger
Xledger markets itself as a cloud ERP system. The platform emphasizes its ability to handle complex financial operations, including multi-entity consolidation and a cross-tab general ledger.
Zoho
Zoho markets itself as an enterprise-level business software suite. The solution emphasizes its broad approach to business management, offering AR among its 55+ business management products.
How to choose the right accounts receivable software for your business
Finding the right AR automation solution requires careful evaluation of your business needs, growth plans, and existing systems. Here's what to consider during your selection process.
Scalability for expanding operations
Your automated AR software should be able to grow alongside your business, with support for multiple entities, divisions, and business units to accommodate your organizational structure.
The system should handle increasing transaction volumes smoothly without performance degradation, with pricing models that align with your growth trajectory.
Enterprise-grade features should be available when you need them, including API access for custom integrations and automation.
Integration with existing financial systems
Seamless integration with your current tech stack should be a non-negotiable requirement for maintaining efficient operations across your business.
The software should offer native integration with popular accounting software and connect easily to your ERP system, while supporting your preferred payment methods.
API capabilities ensure you can build custom integrations when needed, connecting your AR software to any additional systems your business uses.
Customizable workflows to fit your business needs
Every business has unique requirements for managing receivables, so your software should adapt to your processes rather than forcing you to change them.
Configure approval workflows that match your organizational structure, with custom invoice templates that reflect your brand and adjustable payment terms that work for your business.
Your collection strategies and customer communications should be equally flexible, letting you manage relationships in a way that makes sense for your business.
Security and compliance in your accounts receivable software
Protecting sensitive financial data is paramount when choosing AR software. Look for robust security features and compliance certifications.
Data encryption and secure storage
Your AR solution should employ industry-leading security measures to protect sensitive financial data at every step of the process.
End-to-end encryption should protect data both in transit and at rest, with secure cloud storage and redundant backups ensuring business continuity.
Regular security audits and detailed monitoring help maintain the integrity of your financial data over time.
Compliance with industry regulations
Modern AR software must meet stringent compliance requirements including SOC 1 and SOC 2 certification and PCI DSS compliance for payment processing.
Your solution should stay current with evolving regulations, providing regular compliance updates and reporting to help you maintain audit readiness.
Support for industry-specific regulations ensures you can meet the unique requirements of your sector.
Role-based access controls for data protection
Protect sensitive information by controlling exactly who can access what within your AR system.
Customizable user roles and permissions let you restrict access based on job function, while detailed audit trails track all user actions for accountability.
Additional security measures like IP-based restrictions and session controls add extra layers of protection for your financial data.
Your top accounts receivable software: BILL Accounts Receivable
BILL Accounts Receivable transforms how businesses manage their receivables, combining powerful automation with intelligent insights to help you get paid faster and maintain healthy cash flow.
Why choose BILL for AR automation?
BILL's AR solution stands out by offering:
- Intelligent automation that reduces manual work and accelerates payments
- Clear visibility into your receivables and cash flow
- Potential invoice financing offering for enhanced cash flow management
- Seamless integration with popular accounting software
- Enterprise-grade security and compliance
- Fast, easy implementation and exceptional customer support
Why BILL stands out among AR software providers
What sets BILL apart is our commitment to continuous innovation driven by customer needs. We constantly enhance our platform based on user feedback, ensuring that our solution evolves alongside your business requirements.
Our focus on user experience, combined with powerful automation capabilities and robust security, makes BILL the trusted choice for businesses seeking to modernize their AR processes.
