For several years, the most requested feature from our brands has revolved around invoices. Brands on our platform want to give retailers the power to pay their invoices online and have better visibility of their invoice status.
Well we have a sneak peek of a new offering that will help with this request.
A/R Hub is coming soon to transform the invoice management experience on our platform.
A/R Hub is our built-in accounts receivable feature that integrates seamlessly with your existing systems to enhance invoice management, payments, and communication.
There are three main components that make up A/R Hub so let’s dive into what they are and how they’ll help you.
1. RepSpark Pay: Fast and Secure Payments
A/R Hub introduces RepSpark Pay, our native payment processor that enables your buyers to settle invoices directly within RepSpark:
- Trusted Payment Gateway: We've partnered with a reputable processor experienced in B2B transactions to ensure secure and efficient payments.
- Competitive Rates: Benefit from well-negotiated rates tailored to your transaction types, whether through credit card or ACH payments.
- Quick Funding: Receive deposits within 24 hours—much faster than the industry average of 5-7 business days—enhancing your cash flow.
- Optimized for B2B Orders: Our processor specializes in large-scale B2B transactions, ensuring smooth processing of high-value orders.
RepSpark Pay simplifies the payment process, making it easier for buyers to pay and for brands to receive funds on time.
2. In-App Notifications for Real-Time Communication
A/R Hub's in-app notifications make communicating with your buyers much simpler:
- Overdue Invoice Alerts: Notify buyers of overdue invoices or open balances as they shop, to keep your outstanding payments top of mind. A buyer attempting to order a high-demand product may receive a notification if they're on credit hold due to outstanding invoices. This immediate feedback prompts quick action, ensuring smoother transactions and better cash flow for your brand.
- Customizable Triggers: Set notifications based on specific events—like invoices overdue by 30 days or any open invoices—to align with your business policies.
- Seamless Communication: Let’s say there’s a situation where the person receiving notifications isn’t in charge of handling invoices, your buyers can easily forward invoices to their payees with a simple click, expediting the payment process.
Enhance your communication strategy by integrating payment reminders directly into the purchasing process to reduce delays and improve relationships with your buyers.
3. Seamless ERP Connection
One of the cornerstone features of A/R Hub is its robust integration with Enterprise Resource Planning (ERP) systems. This deep connection ensures that every charge made via credit card or ACH payments flows seamlessly back into your ERP. Here's how it benefits you:
- Real-Time Payment Status: Gain instant visibility into payment statuses—know which invoices are paid, partially paid, or overdue.
- Complete Financial Picture: Access credit memos and other financial documents directly within your ERP, providing a holistic view of your accounts receivable.
- Accurate Record-Keeping: Reduce errors and discrepancies by keeping your financial data synchronized across platforms.
By bridging the gap between your payment processes and ERP, A/R Hub ensures that your financial data is always up-to-date and accurate.
Why A/R Hub Matters to Your Business
For Brands:
- Improved Cash Flow: Quick access to funds allows you to reinvest in inventory, marketing, and growth initiatives without delay.
- Enhanced Financial Management: Seamless ERP integration and real-time payment updates lead to better financial planning and decision-making.
- Customer Satisfaction: Streamlined processes and clear communication improve your relationships with retailers.
For Retailers:
- Convenience: Pay invoices directly where you view them, eliminating the need to switch between platforms.
- Efficiency: Receive timely notifications about overdue invoices, helping you avoid credit holds and delays in order processing.
- Transparency: Access comprehensive invoice information, including tracking and order history, all in one place.
A/R Hub addresses the most pressing needs of both brands and retailers to foster a more collaborative and efficient business environment.
We're excited about the potential positive impact A/R Hub will have on brands and retailers. By integrating seamless ERP connections, proactive in-app notifications, and efficient payment processing through RepSpark Pay, A/R Hub will give you the tools you need to optimize your accounts receivable processes without having to leave the RepSpark platform.
Keep an eye out for the full release in the near future, but also feel free to reach out to us to learn more about how A/R Hub can streamline your processes, improve cash flow, and strengthen your relationships with retailers.
