After their existing vendor failed to meet expectations, Express Employment Professionals began searching for a better cash application automation solution. With only a 20–30% ACH remittance match rate, they saw immediate improvement with Billtrust. Their match rates went from 30% to 70% and cut payment processing costs by 75%. Centralizing all payments through Billtrust not only reduced team stress and turnover, but it also unlocked new flexibility and efficiency across their operations. Hear the Express Employment Professionals story from Angela Richards, Managing Director of Corporate AR.
“Prior to Billtrust, we were with a third-party vendor, but it just hadn’t delivered on what we were looking for — especially when it came to ACH payments. We were only matching about 20% to 30% of those payments. So that’s really what put us on the search for something else.”
Angela Richards, Managing Director, Corporate AR at Express Employment Professionals
The Billtrust solution immediately delivered time savings for the cash application team, who previously spent most of their day working exceptions. Today, however, they can finish their daily workload after just 2 hours.
“We immediately saw results after implementing Cash Application from Billtrust. Now we’re running about 70% match rate on our ACH. So that was a big win for us. It really reduced the stress on that team, which then reduced turnover on that team. Before, it had been very stressful to get everything done every day.”
Their automation journey didn’t stop there. Next, finance leaders looked at how they could save money by reducing their payment acceptance costs.
“Lastly, we implemented credit card surcharging. Today, our savings is about 75% compared to where it was before we implemented Billtrust.”
“The greatest benefit for us overall has been being able to centralize everything in one place. We’ve never had all of our payments running through one system besides our ERP. The flexibility that we’ve been able to gain with the Billtrust products — because it is all centralized — has been great for us.”
Ready to begin your AR transformation? Talk to an expert.
