99% ELECTRONIC INVOICE PRESENTMENT
91% AVG. MATCH RATE
Achieved for lockbox and electronic payments
REDUCTION IN DSO
HIGHER EXCEPTION HANDLING EFFICIENCY
MORE TIMELY CUSTOMER INVOICING
GlobalTranz is a full-service transportation and logistics provider. The company continues to emerge as a fast-growing market leader with an extensive customer base serving all industries.They work with a network of over 34,000 carriers and more than 25,000 shipping customers.
As their business grew exponentially, they noticed some growing pains that needed to be addressed. They were originally sending out invoices from their old ERP, and customers were often complaining about not receiving them. Their cash application process was also very manual, taking 1-2 days to process. Furthermore, GlobalTranz noticed that their supplier customers were more frequently turning to third-party Freight Payment Providers to automate their invoicing. They tried building their own robotic process automation (RPA) to assist in sending invoices to some of these portals, but quickly realized they needed further automation to keep up with their evolving customer’ needs.
GlobalTranz first came to Billtrust for their invoicing and cash application solutions, which automate these processes and limit manual touches. With Billtrust’s eSolutions team, they coordinated strategic campaigns to drive customer adoption of digital invoicing. They expanded headcount to handle invoice keying and exception handling but were still challenged by the trend of third-party payment portals. Billtrust’s BPN Invoicing solution connects to 100+ AP buyer portals and streamlines invoice posting to third-party portals. This automates the process entirely and allows their customers to view and pay their invoices where they want. Most recently, they implemented Billtrust’s Pay on Email feature to allow customers to pay their invoices instantly.
As of today, they’re now sending 180,000 invoices a month through Billtrust, and 99% of their customers are receiving digital invoices through the help of the Billtrust eSolutions team. Their cash application process has been reduced to hours, and they have an average match rate of 91% between lockbox and electronic payments. With BPN Invoicing, GlobalTranz has given their supplier customers the flexibility and efficiency their industry requires, and as their business grows, they can now easily approve customer requests to invoice through new AP portals. Company DSO has been reduced since they can ensure invoices are sent out on schedule while customers have an easy-to-use portal to schedule payments. Exception handling has also become more efficient with more timely invoicing.
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