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Solution Guide

Solution guide

Optimizing ACH payments with BPN

For many B2B billers, the most time-consuming type of payment to apply is ACH deposited in their bank account with the remittance details being sent separately by email or downloaded from a web site.

There is a cost associated with that labor and time. 

But Billtrust has a solution. We’re now applying the automated remittance extraction and reporting capabilities of our Business Payments Network (BPN) to ACH payments. 

BPN captures remittances from emails, files, and portals for credit card, wire and ACH payments.

You don’t need Billtrust’s help processing ACH payments. Your buyer places them directly in your bank account. But applying those payments is a major burden. 

Your team needs to search for payment remittance information in emails and portals. That requires time and money. Many AR leaders perceive ACH as a “free” payment acceptance channel. But the soft costs need to be considered. 

Billtrust can reduce those soft costs of labor and time by gathering and preparing the invoice payment data for you. In fact, Billtrust can reduce the time it takes to apply ACH payments by 50%.

Retrieving remits from emails

Most of these “decoupled” ACH remittance advices arrive by email. ACH remittance emails are even less standardized than credit card emails, since they come from a wide range of ERP systems and banks. They come in a variety of formats and attachments, so it’s no wonder that it takes your team many hours to locate the correct email, open it up, find the remittance detail and then key it into your AR system. Since BPN processes over 2 million emailed payments a year, we know how to detect and open these payment emails.

Retrieving remits from portals

Some buyers probably require you to log into a website for ACH remittance download?  If so, BPN will leverage its robotics processing to log in every day and download the remittance details.  

BPN ACH: How it works

  • Your IT team will create a server-level forwarding of your AR inbox into that digital lockbox.
  • Billtrust’s file parsing, robotic processing and payments team will extract the remittance data from emails.  
  • If your customer delivers their remittance information via a portal, Billtrust’s automated processing will log into the portal and download the invoice level details.
  • BPN will then compare the extracted invoice information to your Open Balance file to identify any payments charged to incorrect or already-paid invoices.   
  • Each morning, you’ll confirm on-screen in the BPN portal which payments were received in your bank. Most clients sort this screen by payment amount to quickly find the remittances for the payments that were deposited the previous night.  
  • The remittance details for your confirmed deposits will be included in your daily payment file for easy importing into your AR system rather than posting individual payments one at a time. This file can be in CSV, XML, EDI or BAI format and can mimic your current lockbox file.

BPN Portal gives you real-time view of ACH payments

You’ll be able to view all the ACH remittances as they are processed in real-time in the BPN Portal. The BPN Portal includes:

  • View all of your ACH remittances, both pending and confirmed deposits
  • Drill down to invoice-level remittance detail
  • View the original email and its attachments  
  • Download detailed remittance file in CSV format for a given date range

Having all of your ACH remittance stored online in the BPN Portal for easy access by all of your authorized users is especially helpful at audit time and at the end of the month.

Driving electronic payment adoption

43% of US B2B payments are still by paper check

Now that your ACH cash application process takes up to 50% less effort, your team will be more excited to promote ACH to your clients who still pay you by check. Billtrust’s eSolutions team will work with you on email campaigns that promote ACH payments.

BPN optimizes all digital payment channels

Whether your customers pay you by credit card, wire or ACH, Business Payments Network (BPN) harnesses robotics and intuitive design to streamline your payment acceptance process. Contact [email protected] to learn more about what BPN can do for your business.

BPN delivers results

“BPN has helped our AR team save a great deal of time so we can do other things. Before, we’d manually apply ACH payments one at a time. It could take most of the day to complete postings and reconcile remittances. Now it’s an automated upload into our system, and I estimate we have 85% of our time back to do other work.”

AR Supervisor at Refrigerative Supply Limited

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