Question: How can I optimize my debt collection process to get more money back faster and at a lower cost?

If you need to optimize your debt collection, Paymefy is a good option. The AI-based system automates customizable notification sequences and has features like one-click payment options and multi-invoice payments. Integrating with ERPs and CRMs, Paymefy can help companies recover debts sooner and at lower cost, which can save thousands of euros in operating expenses.

Another good option is FinFloh, which automates and optimizes accounts receivable. It offers features like AI-based credit scoring, ML-based OCR engine for cash application, and customizable workflows. FinFloh integrates with multiple systems to ensure data security compliance and offers a 14-day free trial for companies looking to reduce DSO and improve cash flow.

Growfin also is worth a look, with AI-based account prioritization and precision dunning. It streamlines AR processes, cuts manual work by a lot and reduces DSO. Growfin integrates with common tools and offers real-time tracking and analytics, making it a good choice for better collaboration between AR, sales and customer success teams.

If you want a more complete order-to-cash solution, check out Streamlined. The company automates invoicing, offers flexible payment options and has real-time auto-reconciliation and smart reminders. It integrates with common e-commerce tools like Shopify and accounting software like QuickBooks, reducing average DSO and back-office expenses while improving customer satisfaction and financial control.