Billtrust, a B2B order-to-cash and digital payments market leader, has officially announced its progress in 2024 thus far, highlighting the same by revealing the company’s several groundbreaking achievements and industry accolades. According to certain reports, these achievements and accolades begin from the introduction of a new generative AI functionality, which can help finance professionals make strategic decisions and engage customers more effectively. Next up, we had the Billtrust Finance Co-Pilot’s arrival. In essence, the stated solution comes decked up with an ability to offer unparalleled, deep analysis of a customer’s data. Markedly enough, you can avail this data by typing input queries in plain language. Once the query has been submitted, users will be provided with instant insights and recommendations. Alongside its Finance Co-Pilot, Billtrust would also bring forth two new analytics modules i.e. Payments Analytics and Cash Application Analytics, both understood to be user-friendly, self-service reporting dashboards within the wider Billtrust platform. When used together, the dashboards can actually make it possible for financial professionals to seamlessly capture and analyze information which is necessary for taking a quick decision. Furthermore, they can give you a more holistic view of your business so to achieve faster payments, improved cash flow and working capital, and more satisfied customers. Moving on, the year 2024 even saw Billtrust extending its partnership with Visa to support its Business Payments Network (BPN). Hence, Visa will continue to offer BPN access to the company’s financial institution clients, and therefore, streamline the B2B digital payments process for their own corporate customers. While that was extension of ongoing collaboration, Billtrust also formalized a whole new partnership with U.S. Bank. The idea here was to create a solution in U.S. Bank Advanced Receivables, a solution which will combine bank’s leading payment and risk management capabilities with Billtrust’s AR technology to improve the intricate business-to-business receivables process.
Another detail worth a mention would be the company’s decision to launch a new integration to simplify for customers, who have an SAP ERP system, the process of implementing its software platform. Named as SAP ECC connector, more on the given integration would reveal that it was built in collaboration with SAP-certified partner, the SAP S/4HANA to significantly reduce the need for IT resources and conceive faster, easier Billtrust implementations for its many SAP customers.
Having achieved a 90%+ straight-through processing rate in its processing of virtual card payments, Billtrust further clocked the top position in Hackett Group’s new Digital World Class Matrix™ for Customer-to-Cash (C2C) Receivables Creation Software as a leading provider for Customer Billing/Electronic Invoice Presentment and Payment Software. Not just that, it was also named a Leader in the G2 Grid® Report on Accounts Receivable Automation Software for Spring 2024. To give you some context, this happens to be the twelfth consecutive quarter in which Billtrust has been recognized as a Leader by G2, one of the world’s largest and most trusted software marketplaces. In case that wasn’t enough, then we must mention how it was named a Leader in both the Best Accounts Receivable Automation Software for Enterprise Businesses and Best Accounts Receivable Automation Software for Medium-Sized Businesses categories. Further solidifying its credentials is the fact that Billtrust was named the 2024 overall technology leader in the SPARK Matrix™: Accounts Receivable Applications, as well. In fact, among the 21 vendors evaluated, it received the highest overall rating.
Finally, in 2024, the company also released a new report uncovering perspectives from U.S. CFOs on the adoption and impact of this disruptive technology. You see, named as Billtrust’s “Generative AI & The Office of the CFO” report, the survey picked the brains of 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.
