Before the 1990s, accounts receivable was done on paper. That meant companies generated paper invoices, sent them to customers, stored duplicates in file cabinets, and recorded data in ledgers by hand. When business management software started to take off alongside the widespread adoption of the internet, most companies were able to centralize their accounts receivable process and send documents electronically.
Then in the mid-aughts, cloud computing sparked software integrations that allowed different departments to share and centralize information in ways they never could before - and at low costs.
Payment technology and advancement in digital payments encryption have now made it easy for businesses to accept payments online without the need for special equipment or expensive software.