73% of Firms Report Better Cash Flow with Payment Automation

Cash flow is the lifeblood of any business, yet many small business owners find themselves in a constant struggle to collect payments on time. The solution is simpler than you might think.

The Payment Problem

Small business owners spend an average of **10% of their workday chasing unpaid invoices** ([Source: Upflow](https://upflow.io/blog/ar-collections/13-accounts-receivable-cash-collection-statistics-2024)). That's half a day every week that could be spent growing your business instead of following up on overdue payments.

The Automation Solution

Recent research shows that **73% of firms report improved cash flow after implementing accounts payable automation** ([Source: PYMNTS](https://pymnts.com/commercial-payments/2024/73-of-firms-say-ap-automation-improves-cash-flow)). Even more compelling, **91% of mid-sized firms with fully automated AR systems report increased savings, cash flow, and growth**.

How Payment Automation Works

Modern payment automation systems like Prospora's Stripe Connect integration provide:

1. Instant Payment Links

Every invoice sent includes a secure payment link that customers can use to pay immediately with their credit or debit card.

2. Automatic Status Updates

When payments are received, your invoice status updates automatically—no manual reconciliation needed.

3. Payment Reminders

Automated reminders go out before and after due dates, reducing late payments without awkward phone calls.

4. Multiple Currency Support

Accept payments in USD, CAD, EUR, GBP, and AUD, making it easy for international customers to pay.

The Real-World Impact

Consider this scenario: You send 20 invoices per month. Without automation, you spend 2 hours per week (8 hours per month) following up on payments. That's 96 hours per year—more than two full work weeks—wasted on administrative tasks.

With payment automation, those 96 hours become time you can spend on:

Winning new clients

Improving your products or services

Scaling your operations

Actually taking a vacation

The Adoption Gap

Despite these clear benefits, **more than one-third of firms have not automated any part of their AP and AR processes**. The most common concerns are cost and complexity—concerns that modern CRM systems have completely eliminated.

Prospora's payment automation, for example, takes just minutes to set up and charges only 1% platform fee on top of standard Stripe processing fees. The time savings alone typically pay for the system within the first month.

Getting Started

With **92% of businesses using faster payments to accelerate fund receipt** ([Source: Federal Reserve](https://fedpaymentsimprovement.org/wp-content/uploads/2024-federal-reserve-payments-insights-business-study.pdf)), the question isn't whether to automate—it's how quickly you can get started.

**Ready to reclaim 10% of your workday?** Connect your Stripe account to Prospora and start collecting payments faster today.