LAWRENCEVILLE, NJ – April 21, 2020 – Billtrust, the leader in B2B order-to-cash solutions, has announced that its systems now integrate with over 100 leading accounts payable (A/P) portals to automatically deliver invoices, enabling accounts receivables (A/R) professionals to avoid the labor and expense of manually keying invoice data.
As many suppliers are aware, the recent proliferation of online A/P portals has created additional manual work for invoicing teams as they struggle to deliver a world-class customer experience. In many cases, buyers insist that their suppliers invoice them through these portals, creating additional work for already over-extended teams. According to an upcoming study conducted by Nacha, the Credit Research Foundation and AP Now, 93% of respondents indicate having customers with portals while 82% report that portals are requiring significant additional staff time. As a result, A/R teams are often forced to manually key invoices into potentially dozens of online portals. The study reports that 89% of their membership has at least one customer requiring manual invoice upload.
Billtrust’s APIs and robotic process automation systems integrate with leading A/P portals to automatically deliver invoices, enabling A/R professionals to avoid the labor and expense of manually keying invoice data. With a customer’s billing file, Billtrust experts will design an optimal automation strategy for buyers’ portals.
The COVID-19 pandemic has also added a new layer of stress and complexity. With work-at-home requirements, many A/R teams may not be optimized for remote work, with close collaboration among individuals often necessary to get through the workload. Many teams are also unable to physically receive paper invoices that have been mailed to an office location, requiring additional interaction with buyers and adding time to the order-to-cash process. Portal automation helps solve these issues by allowing teams to remain efficient and productive when they aren’t co-located.
“Our direct processing relationships with leading accounts payable portal providers can remove manual keying work and quickly get invoices uploaded and ready for payment,” said Flint Lane, Billtrust Founder & CEO. “We can work with any A/P portal buyers are using, in addition to the portals we already support today, allowing A/R teams to focus on more urgent, value-added tasks.”
Billtrust accelerates cash flow by automating credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections. Billtrust customers improve operational efficiency across the credit-to-cash spectrum via a flexible and integrated cloud-based solution set. Finance executives and A/R specialists love and recommend Billtrust for the remarkable cost savings, ease-of-use, process efficiency, and improved customer satisfaction rates. For more information, visit Billtrust.com.
Meredith Simpson[email protected]