Billtrust, a B2B order-to-cash and digital payments market leader, announces a momentous first half of 2024, marked by achievements and industry accolades that underscore the company’s commitment to excellence and innovation in reducing friction in accounts receivable.
Billtrust introduced new generative AI functionality, “enabling finance professionals to make strategic decisions and engage customers more effectively.”
Billtrust Finance Co-Pilot offers “deep analysis of a customer’s data, allowing users to input queries in plain language and obtain instant insights and recommendations.”
Complementing Finance Co-Pilot “are two new analytics modules, Payments Analytics and Cash Application Analytics, which are user-friendly, self-service reporting dashboards within the Billtrust platform.”
Used together, finance professionals can “obtain information to speed decision making while getting a holistic view of their business in real time, leading to faster payments, improved cash flow and working capital, and more satisfied customers.”
Billtrust extended its collaboration with Visa to “support its Business Payments Network (BPN). Visa will continue to offer BPN access to its financial institution clients to streamline the B2B digital payments process for their corporate customers.”
Billtrust partnered with U.S. Bank to create U.S. Bank Advanced Receivables, “bringing together the bank’s leading payment and risk management capabilities with Billtrust’s AR technology to improve the intricate business-to-business receivables process.”
BPN achieved a 90%+ straight-through processing rate “in its processing of virtual card payments.”
Billtrust announced a new integration “making it easier for customers with an SAP ERP system to implement its software platform. Built in collaboration with an SAP-certified partner, the SAP S/4HANA and SAP ECC connector significantly reduces the need for IT resources, resulting in faster, easier Billtrust implementations for its many SAP customers.”
Billtrust released a new report “uncovering perspectives from U.S. CFOs on the adoption and impact of this disruptive technology.”
Billtrust’s “Generative AI & The Office of the CFO” report surveyed 375 CFOs across the U.S., offering valuable insights into how financial leaders “are leveraging generative AI to drive efficiencies, enhance decision-making and fuel growth within their organizations.”
The report received coverage in top tier publications such as Fortune and Forbes.
Sunil Rajasekar, Billtrust CEO, said:
“Billtrust continues to innovate at the forefront of the B2B digital payments space, and our first-half 2024 achievements reflect the trust and confidence the industry places in our solutions. We are proud to empower finance and accounts receivable professionals across the globe with technology that drives efficiency, improves cash flow and fuels growth.”
As noted in the update, finance professionals turn to Billtrust to get paid faster while “controlling costs, accelerating cash flow and maximizing customer satisfaction.”
As a B2B order-to-cash software and digital payments market participant, they aim to help the world’s leading brands “move finance forward with AI-powered solutions to transition from expensive paper invoicing and check acceptance to efficient electronic billing and payments.”
With more than $1 trillion invoice dollars processed, Billtrust delivers “business value through deep industry expertise and a culture relentlessly focused on delivering meaningful customer outcomes.”