A $150k invoice to the biggest client went overdue for 3 months due to missing a required PO reference and no follow-up, leading to contract cancellation and $600k annual revenue loss.

Workarounds Described

• pulls QuickBooks aging report when cash flow feels off
• assumes follow-up is handled without checking
• email alerts get buried and no one looks until something breaks

Implied Software Gaps

• Automated invoice follow-up that escalates until resolved
• Enforcement of PO reference requirements before invoice submission
• Task assignment and tracking for follow-up actions on overdue invoices

CollectIQ

CollectIQ is an automated accounts receivable platform that integrates with QuickBooks to monitor overdue invoices, flag missing purchase order references, and trigger escalating follow-up actions (emails, calls, manager alerts) until payment is received. It prevents invoices from slipping through by enforcing a strict workflow with deadlines and escalation paths.

Existing Solutions Mentioned