Question: How can I prioritize my accounts for debt collection and follow-up, is there an AI-based tool for this?

If you're looking for an AI-based tool to help prioritize accounts for debt collection and follow-up, Growfin could be an excellent choice. It offers AI-based account prioritization, precision dunning at scale, and automated follow-up, which can significantly cut down the manual work involved in debt collection. The platform integrates with various tools and is designed to improve collaboration between different teams, helping to streamline and accelerate your accounts receivable process.

Another noteworthy option is Billtrust, which provides a comprehensive AI-powered AR platform. It includes features like automated credit approval, AI-driven invoicing, and multiple payment channels, all aimed at simplifying and boosting cash flow. Billtrust has been recognized as the AR Applications Overall Leader in the SPARK Matrix for 2024 and has helped numerous companies worldwide reduce manual work and accelerate cash flow.

For a system that focuses on optimizing debt collection, Paymefy offers an AI-powered solution that automates customizable notification sequences and payment processes. This can help businesses recover debts faster and at lower costs by minimizing the need for manual interactions. Paymefy’s integration with ERPs and CRMs ensures a seamless user experience and can save thousands of euros in operating costs.

Lastly, FinFloh is an AR automation software that automates and optimizes the entire AR process. It features AI-driven credit scoring, customizable workflows, and dispute resolution through centralized communication channels. FinFloh integrates with ERP/accounting systems, CRM tools, and communication platforms, making it a good fit for businesses aiming to decrease their Days Sales Outstanding (DSO) and improve cash flow efficiency.