TrustRadius: an HG Insights company

What is Monk?

Monk is an accounts receivable platform that automates invoice collections, cash application, and cash-flow forecasting. Monk uses AI agents to process receivables context, draft follow-up communications, and handle responses from customer accounts payable teams.

Key Capabilities

  • Collections automation: Manages follow-up communications for overdue invoices and customer replies.
  • Cash application: Supports matching incoming payments to outstanding receivables.
  • Receivables forecasting: Uses receivables activity to support cash-flow forecasts.
  • Accounts payable portal support: Works with AP portals, including Coupa and Ariba.

Audience & Use Cases

  • Audience: Finance leaders, accounts receivable teams, and collections specialists.
  • Use Case: Automating the invoice-to-payment workflow, including follow-ups, payment reconciliation, and receivables forecasting.

Technical Specifications

  • Integrations: NetSuite, QuickBooks, Salesforce, Stripe, and HubSpot.
  • Receivables volume: Monk states that the platform manages $1.5 billion in receivables.
  • Reported outcomes: Monk reports average reductions in days sales outstanding (DSO) of 40% and monthly time savings of 26 hours.

Categories & Use Cases

Media

Screenshot of an example of invoice automation.
Screenshot of how to collect payments.
Screenshot of AR synchronization.

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Screenshot of an example of invoice automation.