After spending last two decades witnessing the B2B world one thing became clear: Clients are taking longer and longer to pay their invoices.

Ten years ago the time it took to collect from clients was less than 45 days, 5 years ago it had jumped to 55 days, and in 2022 it jumped again to over 62 days. This measure called "Days Sales Outstanding" (DSO) disproportionately impacts smaller businesses affecting your Cashflow, your borrowing needs, and your ability to grow.

 As Clearly Financial searched for solutions for our clients, we came across a partner - Biller Genie - who we first met through our work at Mastercard.   Biller Genie had created payment automation software for smaller businesses and successfully demonstrated the acceleration of Cash Collection by making a simple integration into businesses’ accounting software. Their approach of using a “1-click” integration with common packages (QuickBooks, Xero, AccountingSuite) demonstrated that they are the logical choice to help close the widening DSO gap businesses across America are facing.

Beyond merely shortening the DSO gap there are a number of incredibly powerful money and time-saving features that come with their software:

• Auto payment: The ability to have a client automatically pay an invoice created in your accounting system and sent through Biller Genie to the client. Biller Genie also fully reconciles the payment, and closes the transaction in your accounting system.
• Multiple payment types: Instead of one payment type per client you will have the ability to store multiple payment options, rather than just the default option for each client. Allowing your clients flexibility in how they pay.
• Custom invoices: A huge enhancement to standard accounting template invoices, this ability to send invoices customized with your logos and branding completely automate while personalizing the collection interaction. Any follow-ups are also branded and personalized along with the frequency of sending any reminder.
• Cost Optimization: With an increasing number of businesses making payments by cards, we offer the ability to lower your cost of credit card acceptance with Clearly Financial’s merchant accounts. Because of our card expertise we recognize when a customer is using one of these more expensive commercial cards, and we can automatically have the software add details that lower the rate that is charged to you, sometimes nearly a full percentage point (e.g., 2.00% instead of 2.90%)