New Pay on Email Solution Revolutionizes Billing, Preserves Cash Flow Amidst Pandemic and Enables Remote Workforces
As the global pandemic continues, maintaining and accelerating cash flow by making it easy for customers to pay is crucial to every business. Designed to complement their comprehensive order-to-cash suite, Billtrust, the leader in B2B order-to-cash solutions, has enhanced its robust Payments platform with powerful tools which revolutionize email billing, rapidly enable expanded digital payment acceptance, accelerate cash flow and aid remote workforces to capture payments at every step of the order-to-cash journey.
Businesses know that their invoices don’t always remain atop a buyer’s mind when a payment due date nears. Billtrust’s Pay on Email solution revolutionizes email billing, allowing suppliers to securely request electronic payment on specific invoices without requiring buyers to register for a portal and maintain credentials. This new, mobile-optimized feature solves reconciliation headaches by ensuring that remittance is automatically associated with payments, even for lump sum transactions. Pay on Email also captures 100% of remittance necessary for payment postings back to any ERP. Overall, Billtrust customers using electronic payments see cash application match rates of up to 98%.
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“Billtrust emails nearly $250 billion in invoices each year, and although emailing invoices is a great strategy to reduce costs and deliver bills quickly, it’s often a one-way transaction with the payments on those same emailed invoices coming back via paper check,” said Billtrust Founder & CEO Flint Lane. “Pay on Email includes a convenient smart payment link inside of each email so that customers can easily schedule a payment that is returned with full remittance detail, creating a 360-degree digital payments experience.”
In addition to Pay on Email and with remote A/R teams in mind, Billtrust has also developed solutions to enable self-service online payments and secure phone payments. For suppliers hampered by being unable to take online payments during the pandemic, Billtrust has created a new, turnkey Hosted Payments Page, giving them a tool to enable their customers to self-serve specific multiple invoices being paid and submit credit card payments on the web 24/7 by simply linking to the page from their website or email signature. For suppliers struggling to enforce security standards when remote employees take payments via phone, Billtrust’s Payments solution now features a cloud-based Virtual Terminal enabling call center teams to efficiently capture payments and maintain PCI-compliance. Unlike other solutions, Billtrust’s Virtual Terminal captures client account and multi-invoice data required for easy reconciliation.
Billtrust’s Business Payments Network also furthers digital payments acceptance by providing suppliers with consistent data, speed and security by optimizing the experience and costs associated with accepting ACH, wire and credit card. BPN allows complex financial and payment data to seamlessly come together at scale while providing reconciliation to suppliers and buyers. Participating buyers and financial institutions can also facilitate payment automation with access to BPN’s supplier directory, a transparent listing of supplier payment preferences.
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“Enabling flexible acceptance functionality across our order-to-cash platform with deeply integrated payments capabilities continues to be our top priority,” said Steve Pinado, Billtrust President. “Our Payments platform enhancements can be implemented quickly with minimal IT effort, help maintain PCI-compliance, enable a remote workforce to be productive and facilitate greater adoption of digital payments while providing customers more flexibility.”
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