Businesses no longer have to depend on HR and payroll staff to collect invoices, thanks to companies like InvoiceSherpa. For the past two years, InvoiceSherpa has been automating the payments process for companies, optimizing cash flow and allowing them to get paid faster and more efficiently.
InvoiceSherpa Founder, Shaun Clark, started the company after noticing that cash flow is often restricted by unnecessary customer debt and unpaid invoices, exposing the need for more efficient payouts. And the idea has quickly caught on. The company now manages over $1 billion in receivables each year, with its primary client base being small businesses.
How InvoiceSherpa Works
According to Senior Vice President of Business Development, Kelly Bistriceanu, InvoiceSherpa “streamlines the billing process by acting as a ‘set it and forget it’ type of interface.” Its automated software allows a company to stay on top of every customer invoice and can allow businesses to get paid much faster than traditional invoice methods.
The software will also send reminders for due dates, past due billing messages, and even thank you notes once payment has been received. “InvoiceSherpa automates the process of actually collecting upon the invoices in a way that’s consistent and scalable so that every month, with any type of client, you’re able to have the same results,” explained Bistriceanu.
InvoiceSherpa’s integrated payments platform is easy to set up. It includes a customer portal, where InvoiceSherpa customers can see all their bills and payments activities. Plus, the service will even auto update expiring credit card numbers.
In addition, InvoiceSherpa’s software allows payments to be synced directly to a company’s accounting software. That step alone can cut down on errors and better ensure accuracy. “It’s a great tool for any business owner looking to save money,” stated Bistriceanu.
Personalized for Your Business
Built by developers who understand the necessity of providing a user-friendly interface, InvoiceSherpa caters to the individuality of time-tracking styles that are unique to each industry. The InvoiceSherpa interface comes with built-in templates which were designed with industry-specific best practices in mind.
Once a business specifies a desired workflow, InvoiceSherpa is automated from then on. In addition, businesses are able to personalize settings, if desired. “And once it’s set up, you can just run with it from there,” noted Bistriceanu.
What business wants to waste time and money chasing down customers who do not pay their bills? Since InvoiceSherpa is a third-party service, it can make invoice collection seem more urgent and more important to a company’s customers.
“Instead of hounding individuals over unpaid and past due invoices, InvoiceSherpa prevents businesses from needing to act like the dreaded bill collector,” said Bistriceanu. “It actually saves clients’ relationships.”
Helping Out Accountants
InvoiceSherpa also partners with accountants via its new Trusted Advisor Program. Instead of accountants being slowly phased out by automated AR processes, accountants can actually use InvoiceSherpa to assist in optimizing and strengthening their relationships with their clients.
“We teach them how to actually offer accounts receivable as a service offering and expand their value proposition to their customers as a trusted advisor,” said Bistriceanu.
Changes in Digital Payments
InvoiceSherpa has not been drastically affected by changes in the digital payment space, but the company keeps a close eye on technological changes, including the rise of cryptocurrencies. InvoiceSherpa does not target clients who consistently use cryptocurrencies at this time. However, this may change over the next several years as the utilization of cryptocurrencies, instead of international wire transfers, may become something to look forward to within the InvoiceSherpa interface.
The Future of Billing
In the future, InvoiceSherpa is devoted to growing and sustaining an ideal customer experience, both from the perspective of businesses, as well as accountants. “As far as I know, we’re one of only a few platforms out there that was built with this concept of automating the accounts receivable, and speeding up the process of a company getting paid faster,” replied Bistriceanu.
Additionally, the company is looking forward to partnering with more platforms, as well as sharpening its focus on the accountant market. For streamlined Accounts Receivable structure and faster payouts, InvoiceSherpa has built an ideal, automated system for small businesses.
For more information, visit InvoiceSherpa.com. The company will even provide a free 30-day trial of its software.