Ignition, a revenue and billing automation platform, has launched AutoCollect, a new feature designed to eliminate late payments and improve cash flow for service-based businesses. The feature enables users to automatically import and receive payment for invoices generated in accounting software platforms such as QuickBooks Online and Xero, all within Ignition’s system.
“We need to stop the cycle of service-businesses having to negotiate twice; first for the contract, and then to get paid. Late payments hurt small to medium businesses, impacting the ability to make payroll, pay rent, or hire needed employees,” said Greg Strickland, CEO of Ignition. “Our goal is to wipe out late payments for good and help businesses reclaim their cash flow. AutoCollect is the next piece of the puzzle in Ignition’s payments suite to make getting paid for every invoice as easy as possible.”
According to Ignition, more than half of small businesses in the United States are not paid on time. The problem is particularly acute in some sectors, with an Ignition study finding that 94 percent of accountants and bookkeepers report chasing clients for late payments.
AutoCollect is designed to address these challenges by:
- Auto-importing unpaid invoices from QuickBooks Online and Xero
- Allowing businesses to invite clients in bulk to pay through a secure online portal
- Providing an option for clients to pre-save their payment methods
- Enabling automated collection for future invoices
AutoCollect builds on Ignition’s existing payment capabilities, including features that allow businesses to collect payment information upfront and pre-authorize payments when clients sign a proposal. According to Ignition, 91% of payments processed through its platform are collected automatically, helping customers get paid on time and reducing accounts receivable.
“Ignition has transformed the way we manage overdue invoices and collect payments, helping us get paid faster,” said Jack Colvin of Counting Clouds. “The ability to batch and send payment requests from a single platform has been a game changer. The consolidated view of all payments makes it so much easier to manage both packaged and hourly billing without switching between systems.”
The company states that AutoCollect is part of its broader initiative to enhance billing efficiency and financial stability for small and medium-sized service providers. By automating collections and streamlining payment processes, Ignition aims to minimize the burden of manual follow-up and ensure that service-based businesses can focus more on their clients and growth.
