Accounts Receivable Automation FAQs

General Centime AR Automation FAQs

What is AR automation?

Accounts Receivable (AR) automation streamlines tasks like invoice creation, payment collection, and customer reminders. Centime’s AR automation platform reduces manual effort, improves accuracy, and speeds up collections, all while optimizing your cash flow and enhancing customer relationships.

How is Centime different from other AR automation options?

Most AR automation platforms only manage outflows. Centime goes beyond that by offering a centralized cash management platform that integrates AP and AR automation, cash flow forecasting, and credit management. This all-in-one approach provides a holistic view of your working capital, giving you the ability to control every dollar strategically.

What are the benefits of Centime’s AR automation?

With Centime, you can automate tedious AR tasks, reduce manual errors, accelerate payment collections, and improve cash flow. The software also helps you maintain stronger customer relationships through automated reminders, a seamless payment experience, and detailed tracking of payment behaviors.

Can I use Centime’s AR automation as a standalone product?

Yes! While Centime offers an all-in-one cash management solution, you can choose to use the AR automation as a standalone product to fit your business needs.

What are some KPIs related to AR automation?

Key AR metrics include AR Turnover Ratio, Days Sales Outstanding (DSO), and Collections Effectiveness Index (CEI). These metrics help track the efficiency of your collections and overall cash flow management.

Payments and Integrations

What payment methods can customers use with Centime’s AR software?

Centime supports payments via ACH and credit card through CentimePay. This platform ensures faster collections and offers automatic cash application for receivables, improving accuracy and reducing time spent on manual reconciliation.

Does Centime’s AR software integrate with my ERP?

Centime integrates seamlessly with NetSuite, Sage Intacct, and QuickBooks Online. The deep integration enables a bidirectional sync, ensuring that your accounting system is always up-to-date without manual intervention.

Are there ACH processing fees?

Centime’s ACH processing fees are competitive, at $0.75 per payment. However, if you use Centime’s AR account as your merchant account, we can explore opportunities to waive these fees entirely.

Can customers apply credits or note short payments?

Yes, Centime’s Customer Portal allows customers to manage their credits and note short payments directly. This adds transparency to the payment process and ensures that all transactions are fully documented.

Does Centime support multiple contacts per customer for invoicing and collections?

Yes, Centime integrates with NetSuite’s native customer contact roles, allowing multiple contacts for invoicing and collections. This ensures efficient communication and management of customer accounts.

Advanced Centime AR Features

Does Centime have a customer payment portal?

Yes, Centime’s Customer Portal allows your customers to access and pay their invoices in a secure, centralized platform. This feature accelerates payments and gives both you and your customers end-to-end visibility into the payment process.

Is Centime working on customer dispute initiation?

Yes, Centime is enhancing its dispute management capabilities. Customers can initiate disputes directly through the Customer Portal, and internal notifications will be triggered automatically to streamline the dispute resolution process.

Can Centime display shipping addresses or PO numbers in the Customer Portal?

Absolutely. Centime’s Customer Portal is highly customizable and can display any relevant information, such as shipping addresses or PO numbers, to improve transparency and customer experience.

What is the timing for credit card and ACH payment funding?

The standard payout timing for ACH and credit card payments is T+2, meaning funds are available two days after the payment is made. Centime works with Adyen to prioritize fast and reliable fund transfers, ensuring timely access to your cash.

Implementation and Pricing

What are Centime’s ACH limits?

The standard limit for ACH payments is $1 million per transaction. However, we can collaborate with our processor to increase this limit if necessary to accommodate your business needs.

Are there implementation fees?

Centime’s standard implementation fee is $2,500, which covers setup and onboarding. However, we periodically offer promotional discounts to help businesses get started without additional costs.

Does Centime’s pricing change with invoice volume?

Centime’s pricing is flexible and scales with your invoice volume. If you exceed your subscription bundle, additional invoices are billed at the same average rate as your plan, ensuring there are no surprises as your business grows.

Can I get faster payment funding, like T+1 for credit card payments?

We are actively working with our payment processor to offer T+1 funding for credit card payments. If this is critical for your business, we can explore solutions tailored to meet your needs.

Security and Compliance

How does Centime ensure data security and privacy?

Centime is committed to bank-level security, with PCI SAQ A and SOC 1 certifications ensuring that all data is fully encrypted and secure. We adhere to the highest standards of security for both data in transit and at rest.

“I've felt exceptionally supported throughout this journey. Unlike other SaaS implementations where follow-up meetings felt unnecessary, these sessions with our Customer Success Manager are invaluable. They keep us updated on new features and guides us on adoption strategies, which saves us considerable time and effort."

Return on
investment

70%

Reduction in
processing costs

“We were looking for a solution to help automate our invoice tracking. We needed more visibility to make sure that everybody knew what was hitting their budgets."

Hours saved
weekly

100+

Invoices processed
monthly

*Centime is a financial technology company, not a bank.  

*All banking products and solutions are provided by FNBO. Member FDIC.

^†Subject to credit approval and minimum spend requirements on Centime Credit Card.

**Deposit placement through ICS is subject to the terms, conditions, and disclosures in the applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC.

^††3.5% Annual Percentage Yield (APY) as of 11/19/24. Deposit rate may adjust to current market rate and may change daily. Fees may reduce earnings.

Centime Accounts Receivable (AR) Automation FAQs