John K Perez, CEO, Madeline W Long, VP Enterprise Solutions, Dan Hatcher, President & Co-founder
In an ideal world, all businesses would be paid on time, and all invoice processes would run like clockwork. In reality, order-to-cash delays are one of the most frustrating things for any business, especially when it happens on a recurring basis. Unfortunately, even in the wake of technological advancements, costly paper invoices and paper checks still account for up to 80% of B2B account receivable (AR) transactions according to recent reports from the Association of Financial Professionals. Another major hurdle for businesses is the often hefty capital expenditure, as well as the lengthy implementation timeline – which disrupt current back-office workflows – required for most “womb-to-tomb” AR technologies. In a nutshell, B2B AR and particularly invoice processes, can be a hassle. The key is to simplify your AR process so it is easy and cost-effective for customers to pay you, complements your existing workflows, and is scalable as your business grows.
Unified Payments Group LLC, a Nashville, Tennessee-based AR fintech leader, makes that possible for enterprise and midsize businesses. The company’s cloud-based technology simplifies B2B invoicing and payment acceptance with easy-to-use solutions which can be implemented incrementally or as a near digital replacement for archaic paper and manual workflows.
While some businesses need help with electronic invoicing, others rely on Unified’s expertise in Compliant Surcharging with B2B Credit Card Acceptance, Enhanced ACH Technology, or Online and Recurring Payment Solutions. So, whether your business goals include accelerating invoice-to-cash or reducing current AR costs, Unified Payments has you covered with solutions that are both easy-to-use and implement. “Instead of making our clients buy entire ‘womb-to-tomb’ AR management software at an absolutely astronomical price, we allow them to dip their toes in the water by implementing our modular technology in an a-la-carte fashion, which often shows a quick return on investment,” says Dan Hatcher, President and Co-founder of Unified.
Everything we develop enhances our clients’ AR experience and provides even more visibility into their order-to-cash efficiency gains
The company leverages various software integrations and channel partnerships to make its technology stack, including its dynamic e-Invoicing solution, available. “Electronic invoicing is not a new concept,” adds Madeline Long, VP of Enterprise Solutions at Unified, “but dynamic invoicing is. Our dynamic, Smart e-Invoicing enables real-time digital exception-handling. Your customers can respond to e-Invoices instantly with technology that allows them to comment on and reject disputed line-items while approving and paying for all other line items in real-time.” As an added benefit, Smart e-Invoices, when paired with Unified’s e-Payment acceptance technology, allows businesses to automate or digitize the capture of all payment remittance data including invoice number, date paid, payee information and much more for simplified import into AR/ ERP software. The benefits from access to this magnitude of robust data for analysis of your customers’ buying habits, trends, and your own revenue forecasting cannot be overstated.
What differentiates Unified from its competitors is the fact that its cloud-based AR solutions are not an all-or-nothing offering. Their clients can take slices of the technology and implement them into their business processes and workflows easily and incrementally without disruption. This has been an important factor in how Unified has helped clients effectively address their challenges. One such client is an enterprise-level business that operates on a narrow 3 percent margin and had monthly AR costs of more than $750,000 due to credit card acceptance fees. The firm reached out to Unified for their expertise, having learned of Unified’s recognition as the endorsed partner for cloud-based AR technology by numerous Professional and Trade Associations. The business was able to turn their AR costs into a net margin increase with Unified’s compliant surcharge solution, and now effectively accepts credit cards at no cost. “It’s exciting to see our clients save that kind of money and reclaim margin with the help of our technology stack,” says Brian Bickel, VP of Operations, Unified Payments Group.
The company’s IT roadmap includes solutions to offer its clients customized, in-depth views into robust data analytics. “Everything we develop enhances our clients’ AR experience and provides even more visibility into their order-to-cash efficiency gains,” concludes John K. Perez, CEO of Unified Payments Group.