Billtrust – Integrated AR Automation Solutions

Businesses run on company-customer harmony. Companies deliver, and consumers purchase. However, less than seamless payment options lead to unsatisfied customers, resulting in crumbling businesses. As a fastest-growing payment solution provider, Billtrust transforms B2B payments and the order-to-cash cycle by implementing safe and effective payment processing systems.

The current payment gateway landscape faces various challenges that hinder it, such as fraudulent transactions, a lack of secure servers, complex integration, multi-currency payment systems, and omnichannel payments. Billtrust uses advanced technologies and an integrated, cloud-based AR platform that increases revenue and profits and improves customer experience, making it easier for companies to get paid.

With its customer-centric approach, Billtrust deploys innovative order-to-cash solutions catered to different buyer requirements and speed cash applications via customized invoice delivery, secure multi-channel payment systems, and intelligent matching and payment posting. The company’s AR expertise constantly releases unique products and upgrades existing ones by automating supplier-driven payment networks and invoice delivery into AP portals.

Launched over two decades ago, Billtrust has the experience and expertise to reform the payment sphere, which it does by designing and supplying the latest and most effective tools and products. It delivers its products and services to various industries, such as transportation, manufacturing, distribution, medical equipment, legal, and staffing. Billtrust’s Business Payments Network saves organizations time and resources by increasing cash flow through touchless interactions and transactions.

Furthermore, Business Payments Network’s bi-directional portal optimizes double-sided transactions, allowing companies to present invoices to portals so customers can automatically use and capture their payments. This product also delivers invoices to customers’ portals while channeling data from the ERP and displaying invoice statuses, such as approval, disputes, and cancellations.

Moreover, the Automate Card Payment Acceptance feature enables BPN to automatically obtain and consolidate remittance information instead of opening customer emails that pay through virtual credit cards. It transfers funds and remittances without manual assistance and reduces credit card processing fees. This tool uses detailed remittance data to qualify the highest payment percentages for Level 3 and Large Ticket exchange rates.

Billtrust is a special company with a great culture that solves a real business need for customers by removing the challenges around their order-to-cash processes. This has always been a very important business function but even more so in today’s macro environment where managing a company’s cash flow and customer satisfaction is critical,” said Sunil Rajasekar, CEO of Billtrust.

The Billtrust Business Payments Network also supports an administrative portal that provides a real-time view of invoices and processed payments to accelerate daily reporting. It allows companies to resubmit invoices, search for payments across multiple dates, fix credit card limits, and re-run cards instantly. This AR technology prioritizes collections by letting BPN enable suppliers to enforce acceptance policies like inclusion lists and term payments programmatically, reducing phone inquiries and rejected payments.

Credit card fraud is another challenge that disrupts organizational growth and affects the customer experience. As businesses grow, the pressure to enhance credit systems also increases. Billtrust’s Credit solutions allow credit managers to access automated credit application forms, quick bureau data, and machine-learning-driven predictions.

Billtrust uses credit applications to improve customer onboarding by enabling configurable credit application forms. It also enhances credit risk management by accelerating periodic trade reports with the latest credit software, analytics, and AI solutions.

Scalability and revenue generation are vital pillars of a successful retail business. Billtrust eCommerce accelerates the online revenue stream, increases scalability, and optimizes the customer experience. The intelligent B2B/B2C web store platform and application empowers wholesale distributors and manufacturing businesses by providing an innovative, integrated, and holistic solution.

The eCommerce tool enables seamless scalability by managing complex product catalogs and organizing data and assets with one holistic platform, regardless of the data size or business stage. This product allows companies to create an efficient and easy-to-navigate solution that integrates with the ERP and enables Product Information Management (PIM), search, content management, marketing, and payments.

In addition to scalability, the eCommerce application improves customer experience by equipping them with a simple and flexible system, allowing them to find and order what they need. Its dynamic product recommendation engine, intelligent search, and fully integrated mobile applications let customers place orders, repurchase, and track their supplies remotely. Moreover, it optimizes cash flow by minimizing the disruption between making a sale and posting payments.

Billtrust takes invoicing seriously. There is no general invoicing method; it differs according to customer needs and demands. Billtrust designs tailored solutions, from self-service portals to AP provider integrations, providing a one-shot solution for all invoicing problems. It automatically delivers invoices globally through integrated AP portals, simplifying electronic invoice presentation and reducing the manual workforce.

Billtrust Invoicing supports fully compliant global invoice presentation by standardizing E-invoicing across multiple geographic locations while complying with government regulations. It also reduces operating costs while distributing brand-specific invoices through its secure and user-friendly electronic presentation portal.

Keeping in mind the problems with payment facilitation, Billtrust allows seamless facilitation while providing customers with flexible payment channels. Billtrust’s automated payment platform enables branding and offers a secure and comfortable payment experience by saving credit card acceptance costs and increasing transaction value. Billtrust Payments accepts payments anywhere and anytime, from ACH to credit cards, wires, and EFTs, generating and accepting digital B2B payments via preferred channels.

Billtrust Payments also makes the benefits of digital payments visible. Its automated payment portal reduces fraud, accelerates payment processing, and creates brand experiences. It enables access to integrated payment solutions by simplifying complex business-to-business payments with integrated payment and order-to-cash solutions.

Finally, Billtrust Cash Application builds an improved environment for digital payments. It optimizes the payment system at every step, from receiving payments made via ACH, cheque, card, or AP portal. Its built-in connection integrates with over 175 AP channels, allowing AR teams to automate remittance data retrieval. It provides complete remittance extraction for decoupled ACH payments.

Furthermore, Billtrust Cash Application automatically pulls remittance data from emails, web portals, and bank accounts payable systems, automating manual tasks and reducing error margins. It saves the time otherwise wasted on logging into portals, manually opening emails, and entering data into ERP systems.

Billtrust extends its products and services to companies worldwide. One of its clients, SmileMakers, a company specializing in patient giveaways and dental and medical supplies for markets, required a better credit card system. SmileMakers received over 5,000 single-use credit card transactions in 2018 alone. However, the lack of full-time employees resulted in time-consuming virtual card processing, leading to challenges in handling rising customer requests to pay electronically with single-use credit cards.

SmileMakers used Billtrust’s Business Payments Network to solve its problems. With BPN and its virtual card capture features, SmileMakers could support the increasing credit card payment requests, allowing its employees to process more cards in less time.