Quick Summary

Chasing late payments is exhausting, and spreadsheets don’t make it easier. This guide breaks down 10 invoice-to-cash tools, including Lunos, your AI coworker that reads emails, plans follow-ups, and helps finance teams collect cash faster and with less stress than ever.

Ready to Collect Payments Without the Chaos?

If you’ve ever lost track of an overdue invoice or found yourself sending the same reminder email for the hundredth time, you’re not alone. Most invoice-to-cash (I2C) tools take the edge off, but they still leave you firefighting with spreadsheets and scattered emails.

Lunos is different. As your AI coworker, it doesn’t just send reminders; it reads what customers say, understands intent, and adapts its next move. And you always stay in control, choosing Monitor, Suggest, or Act mode.

In this guide, we’ll break down the 10 tools AR teams are actually using to bring order to the chaos and collect cash faster.

Why Listen to Us

Our team has spent decades building and scaling multi-billion-dollar fintech companies that help businesses get paid. Lunos was founded by Duncan Barrigan, who previously helped grow GoCardless from a Series A startup with $1 million in ARR into a global payments platform valued in the hundreds of millions. After a decade spent working with finance teams and building financial infrastructure at scale, he saw the same pattern everywhere: despite modern payment rails, most B2B invoicing still depends on humans chasing, nudging, and negotiating.

We built Lunos to change that. Instead of another faceless automation tool, Lunos acts as an AI partner: one that reads, understands, and communicates like a real teammate. You decide how much it steps in, and it handles the rest: pulling invoices, managing outreach, and driving the entire receivables process. The result is faster collections, less busywork, and complete visibility, without adding headcount.

To build this list, we combined vendor category rankings from G2, customer reviews, product documentation, and market adoption signals across mid-market and enterprise AR teams.

We built Lunos to change that. Instead of another faceless automation tool, Lunos acts as an AI partner: one that reads, understands, and communicates like a real teammate.

What Invoice-to-Cash Software is and Why It Matters

Invoice-to-cash software is the foundation of modern AR automation. It replaces manual collections with intelligent, connected workflows that move invoices smoothly from sent to paid. Instead of juggling spreadsheets and emails, finance teams use it to manage invoicing, follow-ups, payments, and reconciliation in one place.

The real impact lies in how it improves cash flow. Smart systems send reminders, read customer behavior, understand intent, and prioritize outreach so payments come in faster and with less friction. This helps finance teams stay proactive instead of firefighting, with clearer visibility into what’s paid, pending, or at risk.

Today’s leading tools also adapt to how teams work. Through workflow customization, businesses can adjust automation levels, integrate existing ERPs, and define their own approval and follow-up rules. That flexibility ensures automation feels like an extension of your team, not a replacement.

By combining intelligence, adaptability, and visibility, invoice-to-cash software turns collections into a controlled, predictable process that strengthens customer trust and accelerates growth.

1.  Lunos AI

AR can feel like a never-ending frontier, and every customer is a new test. One day, it’s a ‘we’ll pay next week’ email; the next, it’s radio silence. Lunos acts as your AI coworker: it actually reads customer replies, schedules just-right follow-ups, and adapts to each situation so you spend less time chasing and more time celebrating wins. And you always decide how hands-on Lunos gets: Monitor, Suggest, or Act, with full transparency.

Key features

  • AI-Powered Collections: Reads and responds to customer emails like a real teammate, adjusting tone and timing based on payment history and what your customer actually says.
  • Full Integration: Syncs seamlessly with your ERP, CRM, and payment systems.
  • Personalized Follow-Ups: Adapts messaging for each customer.
  • Full control: Monitor, Suggest, or Act—decide how much Lunos does, with total transparency at every step.
  • Simplified Dashboard: AR tasks, overdue invoices, and payments all in one easy-to-use dashboard.

Pricing

  • Starter Plan: Free with Monitor and Suggest modes; Act mode incurs a 0.3% fee on collected invoice value.
  • Pro Plan: $200 per month plus a 0.3% fee in Act mode. Includes added control and customization.
  • Enterprise Plan: Custom pricing with discounts and advanced features available.

Pros:

  • Fast, low-lift setup that connects to your existing AR workflow in minutes with no IT project.
  • Automates far more than typical AR tools by reading replies, understanding context, looping in the right colleagues and escalating issues automatically.
  • Drives materially faster payments with intelligent, personalized follow-ups tailored to each customer’s behavior.
  • Handles large, complex AR workloads, including multi-site customers, many invoices per account, and consolidated statements, without adding headcount.
  • Flexible automation modes (Monitor, Suggest, Act) so teams stay in control while scaling where it has the highest impact.

Con:

  • If your business uses a highly unusual or niche tech stack, Lunos may require custom integration work to fully support your systems, but we’re here to help you every step of the way.

2. HighRadius

HighRadius is designed for large enterprises that need a comprehensive, scalable invoice-to-cash solution. It combines AI-powered forecasting, automated invoicing, and payment reconciliation with robust reporting and data analytics. It excels in environments where high-volume transactions and complex workflows are the norm.

Key features

  • End‑to‑end invoice‑to‑cash (I2C) automation
  • AI‑powered forecasting and prioritisation of accounts
  • Automated cash application
  • Integrations with major ERPs, CRMs, global banking networks, and credit agencies

Pricing

  • Custom quotes only. Contact HighRadius for details.

Pros:

  • Designed for enterprise scale, able to handle high volumes and complex AR operations
  • AI capabilities enable prioritisation of work, speeding up collections and reducing DSO
  • Strong cash application automation reduces manual matching and errors
  • Extensive ERP/integration support ensures it can fit into large finance stacks
  • Proven case studies of significant improvements in AR KPI metrics

Con:

  • Implementation is complex and may require substantial internal resources and time
  • Cost may be high for smaller or mid‑market teams
  • Offers AI-assisted features, but not a fully autonomous AI agent that doesn’t require manual intervention

What to Look for in Invoice-to-Cash Software

Most invoice-to-cash tools automate only the obvious steps: sending reminders, updating statuses, and running simple workflows, so teams still spend huge amounts of time jumping in as soon as anything non-standard happens (which is almost always). The right solution should solve the whole problem, not just the easy parts: it should understand customer responses, manage back-and-forth, and decide the next right action without human intervention. That’s what sets Lunos apart: instead of rigid workflows, it acts like an AI coworker that adapts in real time, handles edge cases, and keeps the process moving so you spend less time chasing and get paid faster.

Additionally, it would be helpful to ensure the software supports email, SMS, and other channels for dunning and payment reminders. Your software should also integrate seamlessly with your ERP, CRM, and payment systems.As your business grows, so will your AR volume. It is important to make sure the tool can scale without requiring additional headcount or complexity. Finally, effective reporting and analytics, such as strong cash-flow forecasting and payment tracking, are essential for AR success.

Conclusion

If you want to spend more time actually collecting, you’ll need to prioritize AI adaptability, seamless integrations, and scalability. Lunos is here to help you bring order to the AR chaos, like adding a steady, tireless teammate who always has your back. Want to see how an AI coworker changes collections? Start your demo today, and let’s make cash flow one less thing you have to worry about.