Frequently Asked Questions
Levers is a comprehensive receivables management solution designed to streamline and automate your invoicing, payment collection, and reconciliation processes. By leveraging advanced automations, Levers helps businesses reduce the time to get paid and eliminate the manual tasks associated with accounts receivable management. This leads to improved cash flow, increased operational efficiency, and enhanced financial agility for your business.
Levers automates receivables management by providing tools for online invoicing, automated payment reminders, online payments collections, and continuous account management. It integrates with your existing accounting software to sync data seamlessly and uses personalized follow-ups to encourage timely payments. Additionally, Levers offers features for automatic payment processing and reconciliation, ensuring that your financial records are always accurate and up-to-date.
Levers is ideal for a wide range of businesses, including B2B SaaS companies with recurring subscription payments, logistics and transportation firms, property management companies, and any other businesses that manage high volumes of invoices and payments. Whether you're a mid-market or a large enterprise, Levers can help you streamline your receivables processes, reduce administrative burdens, and enhance your overall financial performance.
Levers handles online invoicing by allowing you to create, send, and manage invoices directly from its platform. For payment processing, Levers supports multiple payment methods, including credit cards, and ACH transfers. Customers can pay through a dedicated online portal that hosts their account statement, making it easy for them to view outstanding invoices and complete payments. Levers securely processes payments and automatically updates your records, ensuring that all transactions are accurately tracked and reconciled in real-time.
The setup process for Levers is straightforward and user-friendly. Here are the key steps:
1. Sign Up: Create an account on the Levers platform.
2. Integration: Connect Levers with your existing accounting software.
3. Configuration: Customize your collection workflows, notification settings, establish a payments collection method, and invite your team
4. Go Live: Start using Levers to manage your receivables, send invoices, and process payments.
Our support team is available to assist you throughout the setup process to ensure a smooth transition.
Levers automates follow-ups by sending personalized reminders to customers about upcoming or overdue payments in aggregate without spamming your customers. You can customize the tone, frequency, channel, content, and timing of these reminders to ensure they are effective and aligned with your business needs. This automation helps reduce late payments and improves cash flow without requiring manual intervention.
Levers can automate a variety of reminders, including upcoming payment notifications, balance changes, overdue payment reminders, and thank-you messages after payments are received. These automated communications help maintain consistent and professional engagement with your customers, reducing the need for manual follow-ups and enhancing your receivables management process.
Automated follow-ups in Levers are designed to be professional and courteous, helping to maintain positive customer relationships while ensuring timely payments. By providing consistent and timely reminders, Levers helps prevent misunderstandings and fosters a smoother payment process, ultimately enhancing customer satisfaction and trust.
Yes, Levers provides analytics and reporting on the effectiveness of automated follow-ups. You can track metrics such as the response rate, payment completion rate, and the average time to payment after a follow-up. These insights help you optimize your follow-up strategies and improve overall receivables performance.
Levers ensures that all automated follow-ups comply with relevant regulations and industry standards. You can set up follow-ups to adhere to legal requirements, such as those related to data privacy and communication frequency, ensuring that your business remains compliant while managing receivables efficiently.
Levers simplifies bank reconciliation by automatically matching incoming payments with outstanding invoices. The platform pulls transaction data from your connected bank accounts and payment gateways, ensuring that all payments are accurately recorded and reconciled. This process reduces manual effort, minimizes errors, and ensures your financial records are always up-to-date.
Yes, Levers can integrate with multiple banks and financial institutions to facilitate seamless bank reconciliation. By connecting your bank accounts to the platform, Levers can automatically import and match transactions, streamlining the reconciliation process and improving accuracy.
Levers updates bank reconciliation data in real-time or at regular intervals. This ensures that you always have access to the most current financial information, allowing for timely and accurate reconciliation of your accounts.
Levers helps you identify potential matches based on a confidence score and and resolve discrepancies by providing detailed transaction logs and highlighting unmatched items. You can review and adjust entries directly within the platform to ensure your records align with your bank statements.
Levers automates your payment follow ups and communication for all customers and outstanding invoices using personalized omni channel reminders at scale so you can focus on your goals.
The Levers payment portal provides a dedicated online space where your customers can view their account statements, outstanding invoices, and make payments. This portal is designed to be user-friendly and accessible, making it easy for customers to manage their payments and stay up-to-date with their financial obligations.
Levers supports multiple payment methods for B2B transactions, including credit cards, and ACH transfers. This variety ensures flexibility and convenience for your customers, making it easier for them to complete payments on time.
Yes, the Levers payment portal allows customers to track their payment history. They can view past payments, check the status of current invoices, and download receipts. This transparency helps customers stay informed and manage their accounts more effectively.
Yes, the Levers payment portal is customizable to match your branding. You can tailor the portal’s appearance and messaging to provide a seamless and professional experience for your customers. This customization enhances your brand’s image and improves customer satisfaction.
Levers offers comprehensive reporting on B2B online payments, including detailed transaction histories and payment status updates. These reports help you monitor cash flow, identify trends, and make informed financial decisions to optimize your receivables management.
Levers offers tiered subscription pricing based on your invoicing volume, ensuring flexibility to meet your business needs. Our pricing plans cater to various levels of invoice management, from small businesses with lower volumes to larger enterprises handling extensive receivables. For detailed pricing information and to find the plan that best suits your business, contact our sales team through this website.
Yes, Levers offers discounts for annual subscriptions. By opting for an annual plan, you can save on the overall cost compared to monthly billing, providing better value for long-term use.
Levers' pricing plans are flexible, allowing you to upgrade or downgrade based on changes in your invoicing volume. You can adjust your subscription tier as your business grows or your needs change, ensuring you always have the right plan.
Levers does not charge any setup or onboarding fees. The platform is designed for easy implementation, and our support team is available to assist you at no additional cost during the setup process.
No, Levers does not have any hidden fees. All costs are transparently outlined in your pricing plan, and there are no surprise charges.