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Full Numberz Accounts Receivable Review – All you need to know about Numberz Accounts Receivable

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Numberz is an accounts receivable software which allows businesses to predict the amounts they will collect, increase the efficiency of their collection teams, and reduce daily sales outstanding. This accounts receivable software helps you to adapt your accounts receivable process based on how your business is growing. It will help you to anticipate the challenges your business might face and mitigate against them.

What is Numberz Accounts Receivable?

Numberz puts you in control of your accounts receivable process. With Numberz you will have access to insights based on your accounts that will increase visibility. You will also be able to reduce manual labor due to the AI powered analytics provided. Numberz lets businesses automate the invoice-to-cash process and gives them access to a CRM which is optimized for collections. Essentially with the Numberz CRM, your collections team is able to streamline follow-ups allowing for quick action to be taken in this regard, resulting in faster collection times.

Efficiency is key when running a business and Numberz allows you to keep track of the efficiency of your collections team so that if any changes need to be made they can be quickly spotted.

Planning is also critical. With Numberz, you can get real-time collection status updates, cash projection reports, and see who your best paying customers are.

Numberz Benefits

  • Graphical Reports: Graphical reports make it clear to business where they are doing well and where they can improve. With Numberz, businesses gain visibility into all of the different aspects of their business. Popular products are highlighted, and situations that affect collection are displayed as well.
  • Automated reminders: Without automation, there is the possibility of spending too much time on the accounts receivable process. With Numberz, businesses can drastically reduce this time. One aspect of Numberz which facilitates this is the sending of email and SMS reminders about bills which will be due soon. This process is automated which means that reminders will be sent on time, increasing the possibility of businesses receiving an on time payment.
  • Streamlined and Simple Reconciliation: Matching which customers paid their invoices to transaction records, and determining whether credit notes were involved is a major part of the accounts receivable process. Numberz streamlines this process, especially in the case of partial payments.
  • Effective Collaboration: Numberz facilitates collaboration on tasks with its monitoring function. This allows team leaders to know who did what and when, allowing for more efficient work.
  • Monitor incentives: Numberz lets businesses efficiently manage incentives like discounts and credit notes, as well as other promotional incentives. All of this is kept track of through the software’s dashboard.
  • Give Clients Access to a Credit Line: Business can make credit lines available to customers to cover pending collections and keep track of this activity using Numberz.
  • Access to Insights: Numberz makes use of predictive analytics which can give even experienced accountants and bookkeepers further insights into how to better their businesses. These analytics also allow for advance knowledge of who is most likely to pay and whether this trend will continue for some time. Numberz can also assist businesses in the dispute handling process.

Numberz Features

A wide array of feature is made available to Numberz customers, allowing them to make their accounts receivable process as streamlined, efficient, and effective as possible.

AR Driven Automation

Skyose_Numberz Accounts Receivable AR Automation

This accounts receivable software provides a high level of automation with regards to your accounts receivable process. This reduces the manual labor that needs to be put in by your collections team. Automatic reminders are sent to customers, via email, SMS, or automatic calls. Reminders can be customized and can even be disabled for customers who usually pay on time. In addition, customer email responses can be directly viewed from the Numberz dashboard.

Collections Based Customer Relationship Management

Skyose_Numberz Accounts Receivable CRM

With Numberz’s built-in CRM, you can manage the extremely important relationship between you and your customers. This CRM facilitates the building and maintaining of long-term relationships with customers. Analytics are also provided which helps to streamline the collections department’s process.

Streamline Your Business’ Reconcilation Process

Skyose_Numberz Accounts Receivable Reconcilation

Error-free reconciliation is essential to effectively running your business. Numberz facilitates this process with a protcol and technology driven process which provides insights into client profitability.

Risk Management

Running a business is all about taking calculated risks. Taking this into consideration, certain customers are riskier than others. As Numberz accumulates data, it’s able to determine customers which pose a risk to your business. Modern tools which are backed by machine learning processes customer data, providing you with insights on customers who regularly force you to borrow regulatory capital.

Manage Disputes

It’s necessary to carry out dispute resolution quickly. Numberz provides a degree of automation in this regard. A client dashboard is provided which allows for the management of customer disputes. This increases employee productivity as they don’t have to do the initial management and organization of disputes by themselves, allowing for them to be able to carry out the more important work of actually solving the dispute quickly.

Through the dashboard, clients can raise issues and upload relevant supporting documents. From there the collections team can then resolve the issues.

Multiple Payment Methods Available

Providing multiple methods of payments increases the chance that your customers will make payments on time. Numberz has ensured that this is facilitated with their software. Numberz is set up in such a way that users can set up dummy accounts to accept different types of payments which will actually only go into one account. This is useful for reconciliation since everything is better organized.

In addition e-NACH (electronic National Automated Clearing House) which is regulated by the National Payment Corporation of India (NPCI) is supported along with electronic payments via Numberz’s B2B payment gateway that allows customers to send payments over SSL. These payments are made without accessing the customer’s credit card information directly and are quite secure.

Unified Payments Interface (UPI) is also supported. This is another NPCI payment system. It lets businesses receive payments direct to their bank account within seconds.

Customer Incentives

It’s no secret that customers respond to incentives. This should therefore be a motivating factor for businesses to offer incentives to customers who pay on time. Numberz facilitates this by allowing you to create various discount programs and promotional activities. The use of credit notes can also be viewed and managed.

ERP Integration

Numberz integrates with ERP systems such as SAP and Oracle. This integration is useful for supporting and automating your collections.

Analytics

Skyose_Numberz Accounts Receivable AR Analytics

This accounts receivable platform processes your data giving insights which can be used to make effective business decisions. Reports can be generated using data entered into Numberz which are then inevitably used to develop plans for your business. Various metrics derived from your accounting data can be used to forecast for your business. It’s simple to generate and view the metrics you need. Anything from simple revenue metrics to advanced customer value metrics can be generated.

Security is a Priority

Firstly, potential customers should note that Numbers is fully PCI-DSS compliant. This is essential for protecting the credit card information of persons who use and intend to use Numberz’s services. Invoice data is also encrypted.

Numberz is a multi-user environment and it comes with controls that administrators can set so that your company’s most sensitive data is protected.

Numberz goes the extra mile to ensure that the data of customers which comes into contact with their servers is fully encrypted and authenticated with a strong protocol, a strong key exchange, and a strong cipher.

Pricing

Numberz has three pricing tiers. The one that you choose will depend on your needs. Below the different tiers are highlighted. Please note that Numberz is an Indian based company. The prices given below are in USD but have been converted from Indian Rupees. This means that due to currency value fluctuations, the prices of packages will vary from time to time.

Essential

The Numberz Essential package is priced at about $10.88/mo and offers the following features:

  • Excel Integration
  • Tally integration
  • Manual Reminders
  • Credit Notes
  • Holistic Reconciliation
  • Single Bank Statement

Growth

The Growth package is priced at about $95.28/mo and comes with the following features:

  • All Essential Features
  • Busy integration
  • Automatic Alerts
  • Email Integration
  • SMS Integration
  • Customer Portal
  • Virtual Accounts
  • Payment Gateway
  • Finance Team Portal
  • Sales Master Portal
  • Aggregated Bank Statements
  • Multilingual Helpdesk
  • Live Chat Channel

Advance

You will need to contact the Numberz team directly in order to get a quote for the Advance package. These features are included:

  • All Growth Features
  • SAP B1 Integration
  • Oracal Integration
  • Ramco Integration
  • Custom Integration
  • Bulk Payments
  • Cash Discounting
  • Automatic Funds Pulling
  • Feet on Street App
  • Reports
  • Overdraft Account
  • Credit Risk Assessment
  • Custom Domain Mappinng
  • IP Whitelisting
  • Custom Agent Roles
  • Portal Customization

Technical Details

Numberz is available via a web app. English and Hindi are supported.

Support Details

Numberz provides support via email or phone. Training is also provided. In addition Numberz a useful blog which features articles related to all things accounts receivable such as How banks are drifting towards AI and using it for transformation.

Conclusion

Numberz is intelligently designed, making use of the latest in machine learning and AI in order to streamline the accounts receivable process of businesses.

With Numberz you can give customers access to a line of credit, provide them with incentives, facilitate collaboration among your employees, view useful graphical reports, and also automate many processes. In terms of increasing productivity, Numberz is very useful and is an asset for growing businesses who are hard pressed for time.