Collect Your Invoices 45%* Faster With Our Ar Automation Solution

Our Accounts Receivable Solution is free to use!

AUTOMATE YOUR ACCOUNTS RECEIVABLE PROCESS

Get Paid faster

Collect from your customers more quickly. Execute your collections processes consistently and efficiently by automating your workflows.

Boost your team's efficiency

Energize your collections team by providing tools tailored for their needs. Eliminate tedious, error prone, manual processes and make your collections team more productive.

Reduce Operating Costs

Reduce costs by synchronizing data directly with your billing system, eliminating maintenance of costly custom integrations. Easily organize

Report and predict cash collections

Report on past performance and predict future collections with ease. With a full suite of standard and custom reports

Automate repeatable tasks

Reduce costs by synchronizing data directly with your billing system, eliminating maintenance of costly custom integrations. Easily organize

Focus on your strategic customers

Too often, customers are treated as one size fits all. instead you should group your customers by categories of strategic

OUR STORY
About Us

We do...... ERPs, Accounting Solutions and Billing Software have a long tradition of being good at automating the billing process. But they often assume that the customers will pay on-time and without any needs of reminders, emails, calls and with the increase of number of invoices, the collection process has become very time consuming. We know this because at TroveWorks, we are former product executives from Oracle, IBM, Zuora and we built these solutions.

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HOW IT WORKS
All invoices and customer payment history at your fingertips
Integrate and synchronize data with your billing system
Automate Accounts Receivable workflows and customer communication
Monitor key Collections/AR metrics to improve velocity
ACCOUNTS RECEIVABLE AUTOMATION

TroveWorks is designed to help you collect customer payment faster. Our powerful workflow, email reminders automates the end to end process and gives you time back.

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EARLY ACCESS PROGRAM

We are about to launch the first full feature FREE collection app to work with your Netsuite, Zuora, QB, Sage, Intaact and other ERPs.

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Unique, truly responsive and functional websites

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  • Beautiful and easy to understand UI, professional animations
  • Theme advantages are pixel perfect design & clear code delivered
  • Present your services with flexible, convenient and multipurpose
  • Unlimited power and customization possibilities
GET TO KNOW US
Lynn reduced her DSO from 53 to 32 days in 4 months
TECHNOLOGY SERVICES

G: Good morning Lynn, how do you use TroveWorks today?

Lynn: Hi G, I started using TW as part of the Early Access Program. I export the new invoices out of Netsuite every weeks, import them into the application on my laptop and use the workflows to notify my customers and collect payments.

About Company

TROVEworks is designed to help you automate your entire collection process

in 2019, we decided that we wanted to help automate Accounts Receivable and five you the solution for FREE. How does it work? We put all our features in one application that you can download from our website and use for free. We have paid editions of the software but 100% of all the features you need to automate your collection process are in the Free App: Workflow automation, email reminder templates, AR aging reports,...

What people say

Clients Words

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Shoko Mugikura Manager

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Alexander Harvard Co Founder / CEO

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Lindsay Swanson Director

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Latest Blogs
Why you should create different workflows by customer categories

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How to reduce your DSO

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Why you should create different workflows by customer categories

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Pricing Plan

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Starter
With TroveWorks, the application is ALWAYS FREE!

CORE COLLECTION APP

it's free
  • With our Accounts Receivable application, you can set up workflows, customer categories, email templates and notification, download the invoices from your billing solution.
  • And off you go, you can collect automatically.
Premium
With the Premium edition, we add

PREMIUM EDITION

Purchase Now
  • Online backup & recovery
  • Out of the box integration with your billing engine to download the latest invoices and update payments in real time.
  • Connectors available today: Zuora, Netsuite, Quickbooks
Professional
With the Premium edition, we add

ENTERPRISE EDITION

Purchase Now
  • If you have more than one Collection Hero and you want to share your results and progress with your controller or CFO, the enterprise edition is for you.
  • All the collector applications are synchronized, workload is managed for you and you can consolidate everybody's progress.

Impact of Covid-19 on Collection

What a year, we will all remember 2020!  It has also very tough for most of our customers.

Food and Retail industries have the most negative impacts

Our customers in the Food and Retail industries are in the middle of a perfect storm. in some cases, they have lost 50 to 70% of their business but the worst part is that the remaining customers are also taking more time to pay.

Cash is king and everybody is trying to preserve it.  One of our new customer is a Vegetables distribution business and they saw their DSO triple in April and May.  They deployed Troveworks in June and started collecting money right away.  Their goal is bring back their DSO to where it was prior to the Covid crisis.

High Tech boost stays strong

Have you tried to buy a webcam or as keyboard lately?  well good luck, the Logitech website has been out of stock for months.  How is it possible?  There was an initial boost at the beginning of the crisis but now that the initial surge has passed, we continue to see high demand.

The move to work from home is here to stay, most families are investing to make the switch.  But it is not always good news for our customers in the high tech sector.  We recently saw DSOs increase by 50% due to cash preservation that everybody is practicing.  The supply chain costs have also surged to meet the higher demand and our customers are stuck between slow payment and higher costs.

We have been busy in May and June deploying our accounts receivable software to all these customers.  They tend to use the Enterprise Edition because it gives them the ability to have multiple collection agents working together and balancing the workload thus reduce DSO automatically.

My favorite sector positively impacted by COVID-19: Kitchenware

We have all experienced this, less dining out means more kitchen time.  And we have seen strong sales on the high end kitchenware market. Wüsthof or Henckels knives anybody?

But with new sales channel, replacing the traditional Macy’s retail stores, our customers have to educate their new sales channel that paying on time is important.  New collection workflows with reminders, notification of past due invoices are critical to set the new sales channel on track.

Stay safe everybody and don’t hesitate to share with us your COVID-19 experiences.

Tips and Tricks to Reduce Your DSO

DSO or Days Sales Outstanding is one of the best company wide metric to measure your overall financial performance.  It is calculated as the {Total Account Receivable}/{Total Credit sales in accounting period} X {days in accounting period}.  The unit of measure is in days and best in class companies have DSO as low as 30 to 35 days (see article in CFO.com)

The #1 goal for most organizations is to reduce DSO and collect payment faster.

ERPs and billing solutions are great at generating invoices but they are designed with the assumptions that customers always pay their invoices on-time. 

Manually collecting payment for your invoices is no easy work!

If you are like me, you end up downloading all the unpaid invoices in a spreadsheet, send emails one by one to all the customers, and manually check who i sent emails to in my spreadsheet and start anew the next day.

It is easier to stay on top of your DSO with an automated collection workflow

To reduce DSO, you need a workflow engine for automating accounts receivable. It starts with an initial reminder email sent 10 days before the invoices are due to give the customers an opportunity to provide feedback, it then goes in auto-pilot using your own escalating template messages, Leaving you to handle the exceptions, knowing that 95% of the work is done automatically. 

You too can reduce your DSO by 35 to 50% 

Our customers are telling us that they have seen DSO reduced by 35% to 50% compared to using their Zuora, Netsuite, Intaact or ar integration for quickBooks. That’s huge and this is why we call our customers “collection heroes”! They do an incredible job bringing cash early in the business. But they do more! They make cash collection predictable. Troveworks track all payment history and can help you predict when you will collect the invoices before you send them! Imagine that.

With our out of the box integration with Zuora, Netsuite and other billing solutions and the ability

to leverage email templates, enter notes, reminders, create dunning batches, you too can reduce your DSO by 35% or more.

In Account Receivable, One Size does not Fit All

I just got off the phone with a customer that reminded me how much progress they have made in the last 6 months.  

Most accounting systems send the same payment reminders over and over

When they started looking at their AR collection process, they found over 2,000 new invoices every month.   They had one simple email collection template “Just pay” that they would send every 2 weeks.  If the customers did not pay, they would write off the bills or suspend the account and stop trying to collect. Once we started working together, we explained how you could use various workflows to handle customers differently.

Email templates depending on customers categories is key to improve collection

For instance: For new customers with low balances, one simple email and then a rapid account suspension to help avoid larger unpaid account balances.

For the more strategic customers: use a more personal approach by reminding the customer of the value they were receiving. A notification a few days before the invoice is due and progressive escalation of the payment reminder can help with the long term relationship. We can even insert a call after the second email to make sure they notice the deadline.

Now in between the small balance customers and the strategic customers, you have the thousands of mid size customers.  That’s where the customer portal is invaluable, one click at the bottom of the email gives your customers access to a portal with all past invoices, statements and documents shared. This help reduce DSO and maintain proper cash flow. But also the ability to enter a promise to pay; open a dispute and communicate back and forth with the collection specialist.

Collecting faster means happier collection specialists and an even happier CFO!