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Market Guide for Integrated Invoice-to-Cash Applications

Market Guide for Integrated Invoice-to-Cash Applications


Key Findings

  • The COVID-19 pandemic accelerated the demand for integrated invoice to cash (I2C) applications. Organizations are urgently optimizing their I2C processes and pursuing efficiency to enable faster cash collections and enhanced customer experience.
  • The I2C market is projected to reach $3 billion by 2024, projecting a CAGR of 12.1% from 2019 through 2024.
  • The continued shift from on-premises to cloud applications and the digital advancements in AI are driving new entrants in the market, enabling new capabilities within existing products and providing simple integration with ERP applications.
  • While investments in integrated I2C applications are surging, finance leaders struggle to maximize value across the I2C processes because they are more focused on implementing the solutions within the integrated I2C application rather than digital capabilities.


To drive I2C process excellence through technology innovation, finance leaders should:
  • Identify and prioritize the vendors in the market by evaluating the breadth of solutions and digital capabilities that will enable transformation of their I2C processes.
  • Start by implementing solutions that will enable efficiency and productivity for the end-to-end I2C processes by exploring the integration and automation capabilities in the market.
  • Explore and pilot AI capabilities within I2C applications that go beyond internally focused process efficiency tenable intelligence within I2C processes to improve the customer experience.

Strategic Planning Assumption

By 2023, embedded AI within integrated I2C applications will automate over 50% of decision making within I2C processes.

Market Definition

Gartner defines the integrated I2C applications market as applications that enable small, medium and large enterprises to manage their customer invoicing, collections, deductions and disputes, credit monitoring, customer payments and cash applications in an integrated platform. Vendors in this market provide a SaaS-based platform that enables finance leaders to drive efficiencies within I2C processes. These applications also provide accounts receivable (AR) and payment insights through AI and analytical solutions that allow I2C teams to focus on cash generation and enhance the customer experience.

Market Description

Integrated I2C applications (see Figure 1) are cloud-based applications that provide finance leaders with:
  • A single platform for managing end-to-end I2C processes, including customer invoicing, collections, deductions and disputes, credit monitoring, customer payments and cash application
  • Integrated data flow (via APIs) between the I2C application and multiple ERP and operational tools
  • Automation of standard tasks and workflows to drive efficiencies and productivity
  • Capabilities such as analytics, AI and digital assistants that provide real-time data and drive decision support
  • The ability to improve customer experience by providing customers with a self-service portal for payments and real-time collaboration between parties
There has been a gap in the ERP market for an end-to-end integrated I2C solution. Many companies were using their ERP tools for particular modules such as customer invoicing or cash applications and supplemented them with individual bolt-on solutions for collections, payments, or deductions and disputes. The complexity of having to integrate a process across multiple platforms, tools and technologies delays information flow, drives inefficiency, slows cash flow and impedes the customer experience.
SaaS-based providers identified this gap in the market and developed an integrated I2C application for end-to-end processes while providing enhanced digital capabilities for I2C teams and a reliable experience for customers.

Market Direction

Over the next 12 months, the integrated I2C applications market will continue to experience three major trends.

Increased Market Activity: New Entrants and Consolidation

The growth in SaaS computing and advanced technologies has enabled more vendors to enter the I2C market. In fact, the AR automation market is expected to reach $3.0 billion by 2024, at a CAGR of 12.1% (2019-2024).1
The industry has seen increased acquisitions and investment funding in the North American and European markets. The past six months have seen the following announced or completed transactions:
  • Billtrust went public in January 2021.
  • HighRadius raised Series C funding of $300 million in 2021.
  • Sidetrade announced its acquisition of Amalto in April 2021.
The recent M&A trends reflect key vendors’ strategies to expand their solutions to cover end-to-end I2C processes. Gartner predicts M&A will continue to increase within the next few years as vendors consolidate and refine their offerings.
Additionally, ERP vendors will continue to add or enhance their existing solutions in I2C through digital capabilities such as AI. Our Market Guide for Finance and Accounting Business Process Outsourcing Service Providers identifies a trend of investing (organically or inorganically) in I2C solutions that can be bundled with existing offerings for clients. Stand-alone accounting applications for small and medium enterprises will also expand to include collections and payment solutions.

Shift in Buyer’s Demand: From Efficiency to Customer Experience

As adoption of I2C applications increases, Gartner expects the value finance leaders seek from the application to shift. For first-time buyers, I2C application demand is anchored on driving automation for individual processes (see Figure 2). As process efficiencies increase, finance leaders will look for applications that drive integration across I2C processes, enable predictive capabilities and enhance the customer experience in I2C.
The market will respond to this demand by offering standard capabilities that drive integration across I2C processes through APIs, enable predictive capabilities through AI and digital assistants, and offer personalized customer experience through the portal.

Shift in Market Focus: Advanced Digital Capabilities

Integrated I2C applications’ offerings can be classified in two categories:
  • Solutions — The software packages that support individual finance processes in I2C
  • Digital capabilities — The enabling technologies within each solution that enable efficiency and intelligent operations across I2C processes
New buyers in the market usually start implementing one or two solutions, such as collections, before expanding to include all the solutions a vendor offers. Standard digital capabilities, such as API, automation and analytics, are the most commonly adopted; advanced digital capabilities, such as AI and digital assistants, are less frequently used by first-time buyers.
As finance leaders start adopting all the solutions within an application, Gartner predicts vendors will start including more advanced use cases for AI and digital assistants to drive intelligence in the I2C processExisting examples include:
  • HighRadius’ deductions solution tracks retailer and logistics carrier websites to pull claims and proof-of-delivery documents. It then uses AI to analyze incoming deductions and predict those most likely to be invalid.
  • Sidetrade combines external data with sales and financial data from its cloud to generate a customer payment behavior metric that helps predict margin of DSO improvement and segments customers to expedite collections.

Market Analysis

In this section we cover the range of I2C solutions and digital capabilities offered by integrated I2C application vendors.


Solutions may be sold separately, and buyers frequently purchase them at different points in time; however, they also come integrated within an I2C application. As buyers start adopting the solutions, the standard functionality drives integration with their ERP tools, automation of routine tasks, and provides analytics by user role. As the market evolves, vendors will offer more predictive capabilities through AI and ML as well as more personalized user interfaces through digital assistants.
Integrated I2C applications also provide organizations with a self-service customer portal where customers can view their current invoices with the organizationchange payment terms, make payments and interact with the company to raise disputes. Gartner predicts the more progressive vendors will start offering customer portals that allow organizations to drive customized promotional or e-campaign events to their customers.
Adopting a portal typically improves customer satisfaction or Net Promoter score.

Customer Invoicing

This solution integrates invoice data from ERP systems and distributes it to the customer through various channels. It also includes presentment of invoices on the customer portal that comes standard with an integrated I2C application.
For most organizations, invoice generation is standard within the ERP. However, at organizations with multiple ERP tools, the distribution of invoices to customers is fragmented. This I2C solution manages distribution in a central application, and customers can view all their invoices in one place, irrespective of which ERP it was generated in.
The standard solution also provides invoice templates organizations can customize.
Gartner expects the market to evolve to offer progressive solutions such as validation of an invoice against a customer’s contract or terms and conditions or compliance with tax regulations. For example, the solution can signal whether a specific invoice is exempt from freight charges. Invoice validation reduces invoice-related disputes from customers.
Further, Gartner expects the solution to expand to support invoice creation for specific industries by providing options to generate subscription-based or recurring billing.
This solution typically improves time to invoice and cost per invoice.


This solution provides the collections team with a single view of information, including the total open AR, aging trends, open invoices by customer and payments received. It also automates collections actions such as sorting and prioritizing calls, defining dunning actions and recording customer interactions. Some vendors extend the collections dashboard to include additional details such as contract information or credit score.
Gartner expects the market to evolve to offer progressive solutions such as ML algorithms to identify and prioritize high-risk customers to contact via phone or email. Such algorithms will use data on past payment behavior, customer buying patterns and credit changes to generate collections actions.
This solution typically improves DSO and the number of past due invoices.

Deductions and Disputes

This solution enables the organization to track, code and resolve customer invoice deductions. It also enables the recording, routing and tracking of customer invoice disputes.
Gartner expects the market to evolve to offer progressive solutions such as ML algorithms (based on payment patterns and historical trends) that identify deductions that require further investigation. Solutions with these offerings can also be configured to automatically write off small item deductions, helping collections teams focus on high-value deductions that can be recovered. Some vendors are starting to offer this today.
Some vendors also provide integration with operational tools such as a CRM to allow easy access to information such as sales agreements. And they enable different functions in the organization to collaborate and resolve open customer disputes within the solution.
This solution typically improves days deduction outstanding numbers and the net recovery rate for deductions.

Credit Monitoring

This solution leverages external data (e.g., credit limits) to alert collections teams on the potential credit risk of existing customers. This allows collectors to tailor their conversations with customers on the risk of future orders due to nonpayment.
Gartner expects the market to evolve to offer progressive solutions such as tracking internal data (e.g., changes in buying behavior or requests for new payment terms) to indicate customer financial distress. Some vendors are including this in their offering today.
Vendors will also expand their solutions to serve the entire credit function, including new credit applications, automating customer onboarding, and other central credit policy and management activities.
This solution typically improves bad debt write-off.

Payment Processing

This enables processing of customer payments through multiple methods.
The standard solution allows customers to set their preferred payment methods and provides secure payment gateways for credit cards, EFT and wires. And it ensures payments comply with U.S. and global financial regulations.
As payments are received and authorized, they get posted to the collections workbench within the integrated I2C application to provide visibility to the collections team.
This solution typically improves payment processing times and fees.

Cash Application

This solution matches customer payments against the open invoices based on remittance information. If no remittance information is provided, and there are multiple open invoices, predefined rules can apply and close the invoices against a customer.
After the cash application is processed, it displays the payment status, enabling the collections teams to focus on resolving payments that were not fully matched. The matched transactions’ status is integrated into the organization’s ERP.
Gartner expects the market to evolve to include algorithms that enable cash applications when the payor name is different from that on the invoice, which is common when a parent company is paying on behalf of its subsidiary.
This solution typically decreases unapplied cash.

Digital Capabilities

Though I2C applications employ a number of digital technologies, Gartner identifies five (known as the five A’s) as key to drive maturity within the I2C processes. Standard digital capabilities in I2C solutions are APIs, automation and analytics. As usage increases and there is sufficient data within the application’s cloud, Gartner expects predictive capabilities such as AI, and self-service capabilities such as digital assistants, will start to be more widely used.


API capability enables the flow of invoicing and payment data between the solutions and the ERP tools organizations have. Most applications have partnered with leading ERP providers or leading AP portal providers to enable prebuilt APIs.
Gartner expects the market to evolve to offer APIs that integrate beyond ERP — for example, with operational tools such as CRM to allow real-time collaboration across functions while resolving customer disputes.


Examples of commonly automated tasks and workflows include email reminders when an invoice is past due and applying cash to open invoices. Progressive capabilities also include identifying and driving automation capability in upstream tasks, such as validating invoices against the customer PO to reduce disputes.


The analytics capability provides key insights and task lists on prebuilt dashboards for various user personas, including teams that do invoicing, collections and cash application. Billers, collectors and others can know which tasks need to be completed in the day as well as how they are performing on key process KPIs (e.g., DSO, aged AR, unapplied cash).
Gartner expects the capability to evolve to offer finance leaders dashboards to evaluate their teams’ performance. These dashboards will also provide visibility of projected DSO and cash generation KPIs.


The AI capability enables the detection of patterns across unstructured datasets that can be used to prioritize actions and provide decision recommendations within the I2C processes. For example, an ML algorithm can leverage customer payment, buying and credit data to sort the calls collectors need to make per day. It can also decide which customers can be communicated with through an automated email and which need to be contacted via phone. Further, it can suggest payment options and discounts based on the past payment behavior and strategic importance.
While this drives a higher cash conversion rate for the company, the decision support will also enable a more personalized service for customers.

(Digital) Assistants

The digital assistant capability, also known as chatbots, includes NLP along with ML to translate voice or text commands into actions. As the market evolves, Gartner expects this capability to be available as a standard feature.
By talking or chatting with a digital assistant, a collector can retrieve data (such as key metrics or actions for the day) from the application. Digital assistants also enable faster and personalized decision making by providing a better set of options as the collections team interacts with customers. For example, while a collector is on the phone with a client, the digital assistant can retrieve all open invoices for that customer and suggest which invoice the customer has authority to pay immediately.

Representative Vendors

The vendors listed in this Market Guide do not imply an exhaustive list. This section is intended to provide more understanding of the market and its offerings.

Vendor Profiles


9ci’s I2C application solution includes customer invoicing, collections, deductions and disputes, payment processing and cash application.
9ci’s web-based receivables and collections management (RCM) software integrates with ERP tools to automatically record customer invoices. Centralized analytics on customer payment and write-off trends gives collections teams a picture of the total risk exposure.
9ci dispute and collections and deductions system (DCS) monitors various types of deduction (compliance, returns, promotional spending) and tracks the history of deduction resolutions. Deductions are automatically coded and cleared. The RCM software and DCS offer AR workflow and collaboration capabilities within the credit function and with sales and customer service.
9ci’s Greenbill customer invoice and payment portal accepts online payments from multiple sources (credit card, ACH, e-check, PayPal) and sends notifications to the collections team when payments are received.
The company’s cash application software (CAS) enables application of payments from lockbox, ACH and EDI as well as locally received cash payments and custom file downloads from customer websites. Configurable algorithms enable automatic payment application and exception handling for payments with or without remittance. 9ci also offers optical character recognition (OCR) payment processing for checks and emailed remittance advice.


Billtrust’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
Billtrust Invoicing integrates invoice data from multiple ERP systems, generates invoices and distributes them on Billtrust’s self-service portal or via email, fax or print. The application can also post to a customer’s supplier AP portals using RPA technology.
Billtrust Collections creates a dashboard with daily task lists to guide collector activities based on clients’ collections policies and rules such as date of last contact, promises to pay, and management of deductions and disputes.
Billtrust Credit automates the workflow for credit applications and aggregates bureau reports and other third-party data to create credit profiles. It also offers peer-to-peer networks for credit providers to share their experiences with buyers they have in common.
Billtrust Payments accepts the customers’ preferred payment methods, including ACH, credit cards, emailed virtual cards, wires and EFTs. Billtrust’s Business Payment Network (BPN) automatically retrieves remittance information from emails, attachments and websites (including AP portals) and integrates the payment information into the client’s ERP.
Billtrust Cash Application uses ML to directly match payments and remittance data and provide recommended actions on partial matching to the cash application teams.

BlueSnap (Armatic)

BlueSnap acquired Armatic in 2019 to provide an I2C solution that includes customer invoicing, collections, payment processing and cash application.
BlueSnap (Armatic)’s AR automation software enables automatic invoice creation, automatic credit card charging and payments and flexible payment plans. The module syncs with multiple ERP systems. For SaaS-based industries, it offers capabilities to manage recurring and subscription-based invoices. It displays expansion, reactivation, churn and cancelation data on subscriptions and recurring invoices. A customer portal gives customers access to view and download invoices and make payments.
For collections, the application automatically sends internal reminders, assigns tasks, sends automated follow-ups to customers and runs dunning sequences based on triggering events. The software calculates customers’ average time to payment and aging trends to inform collections actions.
The AR automation software is integrated with BlueSnap’s Payment API, which accepts a variety of payment methods, such as credit cards, ACH, Apple Pay, Google Pay, PayPal and bank transfers. BlueSnap’s Hybrid Solution offers alternatives to credit cards (e.g., Alipay, Boleto Bancário, Skrill). The Virtual Terminal allows clients to process payments received via phone, fax and mail.
The software allows payments to be applied using multiple reference datasets, including invoices, POs and sales order numbers. It can capture remittance details from email or a customer portal.

Cforia Software

Cforia’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
The platform supports multiple ERP integrations using APIs. Cforia.autonomy uses e-billing for electronic invoice delivery, tracks the status of invoices and automatically delivers invoices to customer AP portals. Cforia’s online customer self-service portal gives customers the ability to view, print, dispute and pay invoices online.
Cforia.autonomy’s collections platform offers customizable rules that automate the sending of dunning letters and daily collections tasks (e.g., reminders, task lists, customer communication).
Cforia.autonomy allows clients to automatically assign deduction and dispute reason codes. The platform integrates with the collector workbench to provide automatic workflow notifications when customers initiate disputes online.
Cforia’s credit management platform enables credit review for new applications and schedules automatic credit reviews for existing customer accounts.
Cforia’s platform accepts payments via ACH or credit card.
The platform uses ML and AI to automate the matching of payments to remittances, bank data and open invoices from multiple sources.


Emagia’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
Emagia’s AR software integrates with ERP tools to pull invoicing, order details, credit and payments and present them in a single workbench. The software uses AI to predict collections based on past payment, prioritizes task lists and offers customizable reminders and dunning letters.
For the disputes process, Emagia’s software assigns reason codes, activates the dispute workflow and integrates alerts, reminders and escalations.
Emagia Credit Management integrates external credit data and offers online credit applications and approvals.
Emagia’s Verisign secure payment network enables electronic funds transfer from customers’ banks directly to client lockboxes.
Emagia Cash Application allows clients to receive remittance through EDI, Excel, PDF, lockbox files and bank statements. The automatching engine processes payment data against open receivables. Unmatched receipts are opened on the workbench with recommendations on partial matches.
Emagia’s receivables analytics provide dashboards, visualizations, analysis and forecasting for decision support.
Emagia provides an online portal where customers can access their accounts, file disputes and collaborate with the client.
Gia, Emagia’s digital finance assistant, provides real-time customer invoice and payment data, performs credit verification and assists with automated collections tasks.


Esker’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
Esker’s AR software integrates with multiple ERP tools and creates and delivers customer invoices via multiple channels, including paper, e-invoices and EDI. Esker’s invoice delivery solution focuses on creating invoices that comply with the customer’s order, format requirements and local regulations. Esker’s portal gives customers access to their invoices and payment options and enables clients and their customers to chat directly.
Esker’s solution automates rule-based tasks and provides insight into collections processes. Its AI payment analysis allows users to prioritize collections.
The AR software facilitates invoice-related issue resolution, such as disputes or deductions, with the ability to create and assign tasks, trigger a validation workflow and categorize items for better visibility.
Esker’s Credit Management allows clients to monitor credit alerts (internal and external) and to manage their customer credit risk.
Esker’s solution offers card payment as well as direct debit, and it integrates with local and global payment processors.
Esker’s AI cash application allocates customer payments to open AR records. It includes payment data extraction, configurable business rules and ML to match payments with invoices when no remittance advice has been received.


HighRadius’ I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
The HighRadius Electronic Invoice Presentment and Payment (EIPP) Cloud supports invoice presentment via a self-serve customer portal, email, EDI, and integrations with AP platforms. The solution facilitates receipt of customer payments through global payment methods including ACH, credit cards, virtual cards, direct debits and payment wallets (such as PayPal).
Through HighRadius’ Collections Cloud, collectors interact with Freeda, an AI-powered digital assistant, to navigate through call worklists. Freeda transcribes customer calls and auto drafts emails and follow-up actions for the collector.
Deductions Cloud tracks retailer and logistics carrier websites to automatically pull claims and proof-of-delivery documents. It uses ML to analyze incoming deductions and predict those most likely to be invalid.
Credit Cloud automates the entire credit management workflow, from customer onboarding to credit monitoring, and provides AI-powered predictions of customer delinquencies.
HighRadius’ ERP Payment Gateway, a payment processing cloud solution, accepts virtual cards, credit cards and ACH payments through ERP tools or e-commerce platforms.
The Cash Application Cloud automates data capture across remittance formats (checks, emails, EDI files, lockbox files) using ML to automate cash posting at an invoice level.


Invoiced’s I2C solution includes customer invoicing, collections, deductions and disputes, payment processing and cash application.
Invoiced’s billing software includes built-in templates for invoice generation. It accommodates different billing types, including recurring, subscription and automated billing.
The AR collections software, powered by Invoiced’s Smart Chasing Engine, automates collections, provides multichannel payment reminders to customers and offers integrated task management tools.
Invoiced accepts a variety of payment methods, including credit cards, direct debit or ACH, and PayPalInvoiced partners with Chase Bank to offer Invoiced Payments, a payment gateway for clients to accept online payments. It also offers prebuilt integrations with providers such as StripeBraintreeAuthorize.net and American Express.
Invoiced’s configurable cash application engine — CashMatch AI — automatches payments and invoices, and it detects and processes remittance advice. A virtual lockbox automates payment and remittance processes, and the multi-invoice application tool applies unapplied payments to balances across multiple open invoices.
Invoiced provides a customer portal for paying bills, monitoring balances, managing subscriptions, and updating personal information and payment methods. The portal messaging tracks and logs communication between the customer and client. Customers can also log disputes against invoices, which can then be tracked and managed by the collector in the AR collections software.


Lockstep’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, and payment processing.
Lockstep Collect delivers all invoices from the client’s ERP via email and the Lockstep customer portal, and it integrates with ERP tools using APIs, SQL and file exchange.
Lockstep Collect’s activity management automatically creates and prioritizes activity lists for staff. It automates dialing and transcription as well as precall and postcall activities such as recording promises and follow-ups. Within Lockstep Collect, the collections team can manually record decisions and add follow-ups and reminders. Lockstep Collect’s automated communication triggers outbound, multichannel communication based on defined business rules for items such as invoice aging.
Lockstep Collect has configurable credit monitoring that uses external and behavioral payment data to create a real-time credit score. This credit score can be used to trigger automated communication of credit risk or assign an activity to a collections team member.
Lockstep’s customer self-service portal gives customers access to their invoices, order documents and payment histories. It also shows promises to pay. The portal accepts online payments through ACH, EFT or credit card. Customers can connect online with the client through the portal. The portal enables customers to log disputes that are routed to the assigned collections team member.


Order2Cash’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
The Order2Cash platform can automate the creation and distribution of invoices in multiple formats. Print and invoice posting support is also available. Clients can integrate invoices with, and distribute them to, a number of AP networks (e.g., AribaBaswareCoupaTradeshiftTungsten Network) and government-preferred channels (e.g., Face [Spain], Chorus Pro [France], SDI [Italy], DIAN [Colombia], PAC [Mexico], Peppol [EU, Singapore, Australia and New Zealand]). Clients can connect their ERP tools to the Order2Cash platform through the company’s APIs.
Within the Order2Cash platform, clients can tailor dunning workflows and business rules for individual customers and can instigate and monitor bad-debt collections procedures.
All disputes are centrally recorded, maintained and automatically prioritized in the collections platform.
Order2Cash’s AI uses a combination of external data and customer payment and behavior data to highlight potential credit risks.
Order2Cash’s solution offers multiple payment and regional online banking methods.
The Order2Cash platform uses automation and AI to automatch customer payments with invoices. The matched entries are then integrated back into the ERP.
With the provided customer portal, customers can view, download and archive invoices; instigate disputes; and make payments.


Serrala’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application. Serrala provides a cloud-based solution called Serrala Alevate Accounts Payable as well as an SAP-embedded solution called FS2.
Serrala offers customer invoice distribution and omnichannel invoice presentment, including email, SMS, WhatsApp, PDF, customer portal and paper.
Serrala Collections automates activities such as payment reminders, customer calls and write-offs. The collections management cockpit provides a centralized overview of customer balances and payments.
The dispute and deductions management system uses analytics and RPA to standardize client processes within disputes and write-offs, including automated deductions and trade promotion processing.
Serrala’s credit risk management automates customer risk analysis, credit limit calculation, credit-rating agency reports retrieval, balance analysis and compliance checks.
Serrala provides payment processing directly from an invoice request distributed via various channels. Online payment from the invoice request message can be facilitated via multiple payment methods.
The cash application solution by Serrala automates the cash application process for all payment types used by customers and uses ML to match payments against open invoices.
Serrala offers a customer portal that enables communication between the client and its customers and allows customers to view, select and pay invoices.


Sidetrade’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
Sidetrade Augmented Invoice, integrates with ERP suites, converts invoices to the customer’s preferred format and validates them for compliance.
Sidetrade Augmented Collection leverages Sidetrade’s ML engine, Aimie, to automate collectors’ actions. It uses NLP to read customer emails and assign them to the right collector. Sidetrade combines external data with sales and financial data to offer Sidetrade Payment Intelligence (SPi), which measures the payment behavior of each customer. Using this data, Aimie recommends the best collections action.
Sidetrade Digital Case enables collectors to collaborate with sales and customer service on disputes.
Sidetrade Credit Risk Management consolidates customers’ internal and external data to assess financial risk.
Sidetrade Augmented Invoice has payments integration, including integration with credit card providers.
Sidetrade’s cash application feature uses AI to match payment information with remittance details from multiple channels.
The collaboration portal enables client functions (collections, sales, service), and their customers to collaborate over a single platform.
At the time this description was written, Sidetrade announced the acquisition of Amalto. The Amalto-FIS partnership is now absorbed into the Sidetrade platform. Readers can expect an update to the Sidetrade platform.


Versapay’s I2C solution includes customer invoicing, collections, deductions and disputes, payment processing and cash application.
Versapay supports integration with multiple ERP tools. Versapay’s ARC automation software delivers and tracks invoices in multiple currencies and channels (online, email, EDI, print, customer AP portals). Its collections application houses customer’s current and historical AR data. It automates manual tasks and allows clients to send customized notifications and reminders.
Versapay’s invoicing and payment acceptance portal accepts all payment types (credit card, debit card, virtual card, ACH, check, bank payments and alternative payments such as Apple Pay and PayPal) and can be applied across B2B, e-commerce and POS channels. Versapay is a registered payment facilitator (PayFac).
Versapay’s matching and exception-handling algorithms associate payments with remittance data and match payments to open AR using AI and mobile capture. The platform can use remittance data from online payments, lockbox files, images, emails and customer AP portals.
Versapay’s customer portal displays customer account and invoice information and allows clients to expedite customer payments by collaborating online to resolve disputes and unapplied payments.
Versapay’s Accounts Receivable Analytics delivers custom reports and a dashboard on the I2C KPIs which can be viewed by division, by customer or by another category.


YayPay’s I2C solution includes customer invoicing, collections, deductions and disputes, credit monitoring, payment processing and cash application.
YayPay pulls AR information from accounting, ERP, billing and CRM applications and consolidates it into one platform.
YayPay’s collections management software automates payment reminders and internal escalations and allows clients to automatically include the sales team in their correspondence. The software sends notifications when customers haven’t opened emails, alerts the collections team about when to call specific customers and automatically includes a PDF of all open invoices in emails to customers.
YayPay uses smart AR predictive algorithms to predict payment behavior, which identifies the accounts most at risk. The AR dashboard displays these payment predictions as well as real-time DSO, AR aging, payer trends and automated collections activity.
With inputs from credit-rating partners, YayPay also rates customers’ creditworthiness in real time.
A secure customer statement portal offers click-to-pay options for credit cards, ACH payments or bank transfers. The portal shows customers their outstanding invoices and payments that have been applied to closed invoices.

Market Recommendations

To drive I2C transformation and optimization through technology innovation, finance leaders should:
  • Identify and prioritize the vendors in the market by evaluating the breadth of solutions and digital capabilities that will enable transformation of their I2C processes. Also, consider any vendors that have a country-specific focus or industry domain expertise if your implementation is in one region or you require industry specialization. Smaller, country-focused or industry-focused vendors that are not included in this Market Guide may be worthy of consideration.
  • Start by implementing the solutions that will enable efficiency and productivity for the end-to-end I2C processes. Explore the API and analytical capabilities within the application to drive better data flow and real-time analytics.
  • Evaluate capabilities that go beyond internally focused process efficiency to enable intelligence within and improve customer experience across I2C processes by exploring AI capabilities within the application. Create awareness and inspire finance and operational colleagues on the benefits and use of AI capabilities by introducing small pilots. This iterative or agile approach will create valuable insights and fuel the acceptance, enthusiasm and demand for larger AI capability within the I2C application.


1  Accounts Receivable Automation Market, Markets and Markets

Note 1Representative Vendor Select

The vendors included in this Market Guide were selected to represent those with solutions and digital capabilities that support most of the high-level processes mentioned in the Market Definition section. In addition, their products are marketed and sold specifically as stand-alone products, or as modules in larger suites, and they are bought and used for this purpose. Finally, the listed vendors have achieved some degree of visibility and traction in this market.
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- Gartner - Esker

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