How we make this list: we compare pricing pages, product documentation and public user reviews. Rankite is independent; if a vendor ever pays for a featured spot, that listing is clearly labeled Partner.
Key takeaways
- This is a quote-only category at the enterprise end. HighRadius, BlackLine, Esker and Serrala publish no prices, so shortlist on fit and negotiate with competing quotes.
- Chaser and Kolleno are the accessible entries: Chaser prices by company revenue with a 10-day trial, and Kolleno builds quotes around your size, both far lighter than an enterprise procurement cycle.
- Rimilia still exists as a product, but BlackLine bought it in 2020 and sells it as part of its AR automation suite. Evaluate it inside a BlackLine deal, not as a standalone vendor.
- The real decision is scope. Pure credit management, checking limits and monitoring risk, is a smaller buy than full invoice-to-cash automation covering collections, cash application and deductions.
The best credit management software
#1
HighRadius
Best for: Mid-market and enterprise finance teams automating the full receivables cycle
Visit highradius.com
Starting priceSee website (quote-only)
Free planNo
HighRadius is the most frequently shortlisted name in B2B credit and receivables automation. Its Autonomous Receivables platform connects credit management, electronic invoicing, cash application, deductions and collections in one system, with AI agents that prioritize collection worklists, predict payment dates and match incoming payments to invoices. The company reports processing over $200 billion in receivables a year, and its credit module handles automated reviews, customer onboarding and real-time risk monitoring.
The commercial model is built for serious buyers: quote-only pricing, an outcome-based pricing option tied to realized results, and a high-speed implementation program aimed at going live in about three weeks for mid-market firms. That is attractive next to the multi-month deployments this category is known for, but expect a structured enterprise sales process. Shortlist HighRadius when receivables is a strategic project with executive sponsorship, not when you need a quick collections fix.
What we like- Unified AR suite covering credit, invoicing, cash application and collections
- AI agents for prioritization and dispute handling
- Rapid 3-week implementation model for mid-market
Watch out for- No public pricing
- Enterprise sales cycle
- Smaller companies may find the platform more than they need
#2
BlackLine
Best for: Companies already running BlackLine for financial close
Visit blackline.com
Starting priceSee website (quote-only)
Free planNo
BlackLine built its name on financial close automation and extended into receivables by acquiring Rimilia in 2020. Its AR automation suite now includes Cash Application, Credit and Risk Management, Collections Management, Disputes and Deductions, and AR Intelligence, all on the same platform as its close products. The credit module orchestrates collection strategies and prioritizes team tasks from customer payment behavior rather than static rules.
The natural buyer is a company already inside the BlackLine ecosystem: shared data, one vendor relationship and one security review. New buyers face the standard enterprise motion, custom quotes, scoped implementations and annual contracts. BlackLine's pre-built connectors for SAP ECC and S/4HANA matter if you run SAP, since integration quality decides whether AR automation actually works. Evaluate it against HighRadius and Esker when you want one platform for the whole invoice-to-cash cycle.
What we like- End-to-end AR suite on one multi-tenant platform
- Credit and Risk Management module with behavioral analytics
- Strong SAP and Oracle ERP connectors
Watch out for- No public pricing
- Best value goes to existing BlackLine customers
- Implementation needs real project management
#3
Esker
Best for: Global companies needing compliant invoicing across many countries
Visit esker.com
Starting priceSee website (quote-only)
Free planNo
Esker covers the entire order-to-cash cycle, and credit management is one module inside it: optimized credit approval, risk monitoring that combines internal and external data, and predictive insights for data-driven limit decisions. Around it sit invoice delivery with compliance across more than 60 countries, payment processing, AI-powered cash application, claims and deductions, and collections management with AI-driven prioritization.
The differentiator is international depth. Few competitors match Esker's e-invoicing compliance footprint, which matters for companies billing across borders. The company reports around 72 million invoices processed a year and up to 10 days of DSO reduction for customers. Like its enterprise peers, Esker sells by quote with scoped implementations. Shortlist it when your receivables span multiple countries and tax regimes; domestic-only teams may find simpler vendors a better fit.
What we like- Full order-to-cash suite from credit to collections
- Invoice delivery compliant in 60-plus countries
- AI agents for cash application and risk analysis
Watch out for- No public pricing
- Suite breadth means longer evaluations
- French headquarters can complicate US-centric support expectations
#4
Serrala
Best for: SAP-centric enterprises automating cash application and collections
Visit serrala.com
Starting priceSee website (quote-only)
Free planNo
Serrala, long known in the SAP ecosystem, now sells both the Serrala Finance Platform and the Alevate cloud suite for accounts receivable. Its credit and risk management combines workflow automation with machine learning that predicts payment dates from past customer behavior, while AI agents identify, match and allocate previously unmatched payments inside a governed, auditable framework. The company cites DSO reductions of 10 to 30 percent and cash application rates up to 99 percent.
The SAP relationship is the reason to shortlist Serrala: pre-built depth for SAP ECC and S/4HANA environments that generic AR tools cannot match. Recent launches around governed AI agents show where the platform is heading, with human oversight and role-based controls built around the automation. Pricing is quote-only and the sales motion is enterprise. If you do not run SAP, compare HighRadius or Esker first; if you do, Serrala belongs on every shortlist.
What we like- Deep SAP and S/4HANA integration heritage
- AI agents for matching and allocating payments
- Up to 99% cash application rates claimed
Watch out for- No public pricing
- Enterprise focus with little for smaller teams
- Product naming across Alevate and Finance Platform can confuse
#5
Rimilia (BlackLine)
Best for: BlackLine customers needing AI-driven cash application
Visit blackline.com
Starting priceSee website (quote-only)
Free planNo
Rimilia deserves its own entry because buyers still encounter the name, but understand what it is today: BlackLine acquired the UK-based company in October 2020 for $150 million and folded it into its AR automation business. Rimilia's technology, AI and machine learning that automates the collection and allocation of customer cash, now ships as BlackLine's cash application capability, targeting same-day allocation and sharp DSO reduction.
There is no separate Rimilia contract to sign anymore. If a peer recommends Rimilia, translate that into a BlackLine evaluation and ask specifically about the cash application module's match rates on your remittance formats. Its historical strengths, multi-ERP and multi-bank connectivity and AI matching, remain the reasons it gets recommended. Treat any standalone Rimilia pricing or packaging you find online as outdated.
What we like- Specialist AI for payment-to-invoice matching
- Same-day cash allocation focus
- Integrates with most major ERPs and banks
Watch out for- No longer an independent vendor
- Evaluated and priced inside BlackLine deals
- Standalone future is BlackLine's roadmap
#6
Kolleno
Best for: UK and European mid-market teams wanting AR automation without enterprise procurement
Visit kolleno.com
Starting priceSee website (custom quote)
Free planFree trial
Kolleno is a London-based financial operations platform that brings receivables, payables, payments and reconciliation into one place. For credit management buyers, the relevant pieces are automated payment reminders, customer portfolios, credit workflows, a customizable payment portal and AI-supported collections, with integrations into NetSuite, Microsoft Dynamics, SAP, Oracle and Sage. A free trial is available, which is rare in this category.
Pricing is customized around company size and needs rather than published, with packaging that scales from smaller teams to enterprise. That makes Kolleno worth a conversation for mid-market companies that find HighRadius and BlackLine too heavy: you get workflow automation and reconciliation in one platform without the enterprise sales gauntlet. The tradeoff is vendor maturity, so check reference customers in your industry and confirm the ERP connector quality before committing.
What we like- Combines receivables, payables, payments and reconciliation
- Revenue-based packaging that scales with company size
- NetSuite and major ERP integrations
Watch out for- No public pricing
- Younger vendor with a smaller customer base
- Enterprise tiers need custom ERP work
#7
Gaviti
Best for: Mid-market AR teams wanting configurable collections workflows
Visit gaviti.com
Starting priceSee website (quote-only)
Free planNo
Gaviti is a mid-market invoice-to-cash platform covering collections automation, credit management and monitoring, cash application, disputes and a payer self-service portal. Its credit capabilities include online credit applications, AI-supported credit review, automated periodic reviews, real-time credit risk alerts and credit-limit workflows. It connects to NetSuite, QuickBooks, Xero, Sage Intacct, Microsoft Dynamics and custom ERPs, including multiple systems at once, which suits companies grown by acquisition.
The platform earns its place for workflow flexibility: collections strategies configure around invoice age, balance and customer status rather than forcing you into fixed sequences. Pricing is quote-based. Gaviti suits mid-market finance teams that want real automation without enterprise complexity, though global enterprises with heavy compliance needs should compare the bigger suites. Confirm during evaluation how the credit monitoring alerts integrate with your existing risk data sources.
What we like- Highly configurable collections workflows
- Multi-ERP connectivity in one deployment
- Self-service payer portal with ACH and card payments
Watch out for- No public pricing
- Mid-market focus means less for global enterprises
- Credit management is one module among many
#8
Chaser
Best for: Small and mid-size businesses that want chasing handled this week
Visit chaserhq.com
Starting priceSee website (priced by annual revenue)
Free planFree trial (10 days)
Chaser is the pragmatic end of this list. Connect your accounting system, Xero, QuickBooks, Sage and others take minutes, and it pulls every open invoice into automated reminder workflows by email, SMS, letter or phone call, all sent from your own address with your signature. Payer ratings and behavior-based segmentation prioritize the risky accounts, and every reminder carries a payment portal with card payments, installment plans and early-payment discounts. When chasing is not enough, its own collections service takes over inside the same platform.
Pricing is published by region and set by annual revenue rather than per user, and a free 10-day trial runs on all plans. The company says users get invoices paid more than 16 days sooner on average. Chaser will not replace an enterprise credit department, and its risk monitoring is lighter than HighRadius or Esker, but for a business losing weeks to manual chasing, it is the fastest path to getting paid.
What we like- Live in days with Xero, QuickBooks or Sage
- Reminders sent from your own email address
- Built-in payment portal and optional collections service
Watch out for- Pricing by revenue can surprise growing companies
- UK-rooted with less US enterprise presence
- Advanced credit risk features are lighter than enterprise suites
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
| HighRadius | Mid-market and enterprise finance teams automating the full receivables cycle | See website (quote-only) | No |
| BlackLine | Companies already running BlackLine for financial close | See website (quote-only) | No |
| Esker | Global companies needing compliant invoicing across many countries | See website (quote-only) | No |
| Serrala | SAP-centric enterprises automating cash application and collections | See website (quote-only) | No |
| Rimilia (BlackLine) | BlackLine customers needing AI-driven cash application | See website (quote-only) | No |
| Kolleno | UK and European mid-market teams wanting AR automation without enterprise procurement | See website (custom quote) | Free trial |
| Gaviti | Mid-market AR teams wanting configurable collections workflows | See website (quote-only) | No |
| Chaser | Small and mid-size businesses that want chasing handled this week | See website (priced by annual revenue) | Free trial (10 days) |
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Credit management, collections and cash application are different buys
Vendors bundle these terms, but they describe different jobs, and knowing which one you are buying keeps the evaluation honest.
Credit management is the front door: checking a new customer's creditworthiness, setting limits and payment terms, and monitoring risk as the relationship continues. If your problem is bad debt and overexposed accounts, this is the module that matters, and HighRadius, Esker and Gaviti all sell it as a distinct capability.
Collections is the chase: prioritizing overdue accounts, sending reminders, escalating and resolving disputes. Chaser and Kolleno live mostly here, and it is where most SMBs feel the pain first.
Cash application is the back office: matching incoming payments to open invoices and clearing them. It sounds clerical until you see the hours it consumes, which is why Rimilia's AI matching and Serrala's allocation agents exist. Enterprises with lockbox and multi-bank complexity buy here.
Most platforms on this list sell all three as a suite. Buy the suite when you have pain in at least two of the three areas; buy the point solution when you do not, because suite pricing assumes you will use the whole thing.
What to ask on the sales call
Since most vendors here hide pricing, the sales conversation is the evaluation. Five questions separate serious contenders from expensive disappointments.
First, how do you count a billable user or account, and what happens when we grow? Per-user, per-active-user and revenue-based models behave very differently as headcount changes. Get the growth math in writing.
Second, what does implementation actually include, and how long does it take? HighRadius advertises a three-week model for mid-market; enterprise norms run two to six months. Ask what your team must provide, data, IT time, process decisions, and what happens if the timeline slips.
Third, how do your AI features work on our data? Every vendor here claims AI matching, prediction or prioritization. Ask what the models train on, how match rates are measured on remittance formats like yours, and what happens when the AI is wrong. A demo on your own data beats any slide.
Fourth, which ERP and bank connectors are pre-built versus custom? Integration quality decides whether the project succeeds. Pre-built connectors for your specific ERP version and banking formats are worth more than a longer feature list.
Fifth, what are the renewal terms? Annual contracts with auto-renewal are standard. Negotiate the renewal increase cap now, while you are still choosing, not at renewal when you have no alternative.
How we chose
We did not run vendor pilots. We compared the vendors own product and pricing pages, read documentation on modules, ERP connectors and contract structures, and checked buyer reviews on G2 and Capterra plus industry analysis for the complaints that surface after deployment. We required every product to be actively sold and maintained today, which is why Rimilia appears as a BlackLine module rather than a standalone vendor. Quote-only enterprise platforms were included because they dominate real shortlists in this category.
Frequently asked questions
What does credit management software actually do?
It manages the risk of selling on credit: checking customer creditworthiness, setting credit limits and payment terms, monitoring risk over time, and blocking or flagging risky orders. Most platforms bundle it with collections, cash application and dispute handling as a full invoice-to-cash suite.
How much does credit management software cost?
For SMB tools like Chaser, pricing is published and based on company revenue. Mid-market platforms like Kolleno and Gaviti quote by size and scope. Enterprise suites from HighRadius, BlackLine, Esker and Serrala are entirely quote-based, with annual contracts typically starting in the tens of thousands of dollars and rising with user count and modules.
Do we need the full suite or just collections?
If late payments are your main pain and credit risk is under control, a collections-focused tool like Chaser or Kolleno is enough. Buy the full suite when you also struggle with credit decisions, payment matching or deductions. Suite pricing assumes you will use multiple modules, so do not pay for it to solve one problem.
How long does implementation take?
SMB tools like Chaser go live in days. Mid-market platforms typically take four to twelve weeks depending on ERP integration complexity. Enterprise suites historically take two to six months, though HighRadius markets a three-week implementation model for mid-market buyers. Data quality and IT availability usually decide the timeline more than the software.
Will it integrate with our ERP?
Probably, but verify the specifics. All eight platforms list connectors for major ERPs like SAP, Oracle NetSuite, Microsoft Dynamics, Sage and QuickBooks. The difference is whether the connector for your exact ERP version and your banking formats is pre-built or custom work. Ask for reference customers on your ERP before signing.
Is Rimilia still available as a standalone product?
No. BlackLine acquired Rimilia in October 2020 and integrated its AI cash application technology into the BlackLine AR automation suite. If you are evaluating Rimilia's capabilities, evaluate BlackLine and ask about the cash application module specifically.
Sources we checked (14)
- https://www.highradius.com
- https://www.blackline.com
- https://www.esker.com
- https://www.serrala.com
- https://www.kolleno.com
- https://gaviti.com
- https://www.chaserhq.com
- https://www.highradius.com/resources/Blog/accounts-receivable-management/
- https://www.blackline.com/about/press-releases/2021/blackline-unveils-next-gen-accounts-rec-platform/
- https://www.esker.com/en-gb/cloud-business-solutions/order-to-cash/accounts-receivable/
- https://www.serrala.com/blog/understanding-days-sales-outstanding-in-accounts-receivable-and-why-it-matters
- https://www.chaserhq.com/blog/best-credit-management-software
- https://app.dealroom.co/companies/rimilia
- https://www.paymentsdive.com/ex/mpt/news/blackline-buys-ai-powered-accounts-receivable-rimilia/
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has spent more than a decade helping SaaS and e-commerce brands grow through search. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.