Wafeq and Levers Partner to Streamline Accounts Receivable Automation for B2B Companies in UAE and KSA
Wafeq, a leader in accounting and invoicing software in the MENA region, has announced its partnership with Levers, a platform specializing in receivables management, to help B2B companies in the UAE and Saudi Arabia accelerate receivables collection, boost cashflow, and eliminate grunt work.
This collaboration addresses the common challenges faced by businesses in managing cash flow, automating collection efforts, and maintaining compliance with local financial regulations.
Wafeq is known for offering intuitive, user-friendly solutions tailored to small and medium-sized enterprises (SMEs), with a strong focus on local compliance requirements such as ZATCA in Saudi Arabia and VAT regulations in the UAE.
On the other hand, Levers has established itself as a robust platform offering powerful dunning and AR automation tools, ensuring that businesses can handle overdue payments with precision and efficiency.
By integrating Levers with Wafeq’s accounting platform, users can automate key functions such as sending reminders for overdue invoices, monitoring payment timelines, and generating detailed reports that offer insights into customer payment behaviors. This integration removes the burden of manual AR management and minimizes human errors, which in turn helps companies maintain healthy cash flow and avoid the delays that often accompany manual processes.
One of the standout features of this partnership is the ability to customize follow-up actions through advanced dunning techniques. Businesses can set up automatic escalation processes for late payments, helping them recover funds more quickly. Additionally, by using Wafeq’s compliance-ready e-invoicing system, companies can ensure that all transactions meet the legal standards set forth by local tax authorities.
This partnership is especially valuable for B2B companies operating in industries where managing receivables, such as retail, contracting, and e-commerce, can be complex and time-consuming. By automating the entire receivables process, these companies can focus on growth and customer satisfaction, knowing that their financial operations are in order.
Key Benefits for Businesses:
Automation of AR Collection: Levers automates key AR functions, allowing businesses to minimize manual intervention and reduce errors.
Compliance Assurance: Wafeq’s e-invoicing solutions meet all ZATCA and VAT requirements in KSA and the UAE, ensuring businesses remain compliant while automating payments.
Cash Flow Improvement: By accelerating payment recovery through automation, businesses can maintain a healthier cash flow and invest in further growth opportunities.
Advanced Dunning Features: The integration offers tools to follow up with overdue payments through customizable reminders and actions, reducing delays and improving customer relationships.
This partnership marks an important step forward in providing comprehensive financial solutions that support businesses in the MENA region. With the seamless integration between Wafeq and Levers, B2B companies can now manage their receivables more effectively, freeing up valuable time to focus on core operations.
For more information on integrating Wafeq and Levers, visit their websites or contact their support teams for a demo.