Billing and collections have long been a pain point for accounting firms. From scattered invoicing processes to delayed payments and time-consuming reconciliation, firms have accepted inefficiencies as the cost of doing business.
But that’s starting to change… fast.
Across the profession, especially among the Top 100 firms, a quiet revolution is underway. These leading firms are actively moving away from manual billing and collections processes and investing in technology that streamlines workflows, accelerates cash flow, and improves the client experience.
So what’s behind the shift? And what can other firms learn from those leading the way?
For years, firms have relied on fragmented, often manual workflows to send invoices, follow up on unpaid balances, and reconcile payments. These processes are not only labor-intensive, they’re unpredictable and inconsistent.
Manual billing leads to:
For large firms handling thousands of client accounts, these inefficiencies quickly become costly, both in lost time and delayed revenue.
Top firms know that client expectations are changing. Clients are no longer tolerant of clunky payment experiences. They expect:
In other words, they expect the same ease of use from their accounting firm as they do from any other modern service provider.
Firms that still rely on paper invoices, mailed checks, and manual emails are not only slowing down their own collections, they’re creating friction that can damage the client relationship.
In today’s environment, cash flow isn’t just a finance issue, it’s a strategic one.
Manual collections processes often mean firms wait 30, 45, or even 60+ days to get paid. For firms with growing payrolls, acquisition activity, or seasonal swings in revenue, that kind of delay creates unnecessary pressure.
By moving to automated billing and collections, firms can:
Top 100 firms know that automation isn’t just about doing things faster, it’s about creating more predictability and control over their revenue cycle.
The firms leading the way aren’t just adopting tools, they’re rethinking how billing and collections should work altogether.
They’re implementing platforms that:
The result? Fewer manual tasks, faster payments, better data and a much smoother experience for clients and staff alike.
For the Top 100 firms, the move to automation isn’t just about innovation, it’s about return on investment. In many cases, these firms are seeing a full ROI within months of modernizing their billing and collections processes.
They’re saving dozens of hours each month on reconciliation, reducing write-offs, improving cash flow forecasts, and even strengthening client loyalty through better communication and ease of payment.
The Top 100 firms aren’t moving away from manual billing and collections because it’s trendy. They’re doing it because it’s better business.
They’ve realized that the traditional way of handling billing and payments simply doesn’t scale. It’s unpredictable, inefficient, and at odds with what today’s clients expect.
For firms that want to compete at the top, now is the time to take a hard look at your billing process and ask whether it’s working for you or holding you back.