Taking Credit: What the Credit2B credit management solution means to Billtrust Quantum
At Billtrust Summit last week, we were excited to announce that Billtrust has acquired credit management solution company, Credit2B. As CEO of Credit2B, I am truly excited about this new stage in our growth. We used the Billtrust Summit to share our vision of not just the future of credit in the 21st century, but the future of the order-to-cash process with Billtrust customers. And we were energetically welcomed into the fold.
So let me tell you a little about us, and what we learned in our first meetings with the loyal customers who attended Summit.
Launched in 2012, Credit2B saw a stale and stagnant “business credit reporting” landscape and embarked on executing a new vision for a ground-breaking credit management solution. Built as a scalable, secure cloud-based application, Credit2B today delivers high quality and timely commercial credit information, including industry peer-to-peer intelligence, machine learning credit risk scores, detailed public filings on businesses, comprehensive credit bureau data and information from online credit applications, all seamlessly integrated into its comprehensive business profiles.
When you consider what we offer in relation to what Billtrust brings to market with Quantum, you can see that together we are providing a more robust order-to-cash solution, starting with cutting edge credit solutions and extending through to cash application and revenue recognition.
In his opening remarks, after announcing the acquisition, CEO Flint Lane shared that one of the first tasks he assigned his team is to make it easy for Billtrust customers to view their own accounts receivable data inside the highly secure Credit2B platform so they can unlock the richness of credit risk information available to them. Our engineering teams on both sides are already working on a solution.
As a consequence of Flint’s announcement, we had a sell-out session at Summit on day one and were asked to insert a second session on day two to accommodate the additional demand. Most attendees asked questions about how we use technology to improve the lives of credit practitioners, and were most interested in our business credit intelligence automation tools and supplier peer-to-peer data which together create a more meaningful and in-depth risk view of common customers.
It was equally exciting to meet several shared customers at Billtrust Summit, most of whom immediately saw the value in an end-to-end solution. Billtrust’s dedication to providing an end-to-end solution with clear visibility throughout the process, ensuring smarter decisions with accurate, up to date information, mirrors our own commitment to streamline, simplify and improve the credit management process.
One final note that often gets overlooked when we speak about technology: this combination of two innovative organizations is also in alignment with our other values. From a cultural perspective, Credit2B and Billtrust share common core principles, such as a passion for customer service, a strong belief in the talent and integrity of our employees that service those customers and a desire to conduct business with the highest ethics.
Billtrust Summit was an ideal place to announce our new phase of growth as part of the Billtrust family. It allowed us to showcase our credit solution within the context of Billtrust’s broader order-to-cash solutions, highlight the synergistic nature of our relationship.
The real excitement will come in future announcements as we integrate more fully with Billtrust Quantum, and offer the market a true end-to-end platform that accelerates the order-to-cash process efficiently, cost effectively, and with a positive impact on customer satisfaction.
Stay tuned for more!
About the author: Shyarsh Desai is Group President, Credit2B, a division of Billtrust. He can be reached via LinkedIn.