Today Billtrust announces the launch of Quantum Payment Cycle Management, a comprehensive, cloud-based, invoice-to-cash solution.
Quantum supports businesses by improving efficiency, accelerating cash flow, and increasing customer satisfaction rates.
Quantum streamlines three key areas of the invoice-to-cash process: invoice delivery, invoice payment and cash application. No other invoice-to-cash provider offers all three of these strategic components integrated into one end-to-end solution.
"We are singularly focused on automating every part of the AR process," says Flint Lane, CEO and founder of Billtrust. "And we are the only end-to-end invoice-to-cash solution available today. Quantum Payment Cycle Management is comprised of Quantum Invoicing, Quantum Payments, and Quantum Cash Application. Together, they streamline and accelerate what has traditionally been manual and labor intensive processes, allowing our clients to use one vendor for all of their invoice-to-cash needs."
As part of Billtrust's Quantum solution, clients can take advantage of a managed eAdoption program to grow electronic invoicing and payments adoption, resulting in an increase in customer satisfaction and decrease in days sales outstanding (DSO). Working closely with clients, Billtrust's eAdoption team develops and executes comprehensive marketing campaigns to their customer base, increasing usage of electronic invoicing and payments up to 70% more than when clients implement electronic adoption programs on their own. This translates directly into increased cash flow and operational efficiency.
"Billtrust has accelerated our invoice-to-cash cycle. Their technology has improved our ability to secure customer payments faster, giving us an additional $2M in cash flow each month, and reduced our DSO by three days," said Tim Drake, vice president of credit and collections at ThyssenKrupp.
The transparency of data that Quantum provides gives businesses greater flexibility and insight into process management and meeting customer requirements. The flexibility, however, is not only for businesses using Quantum, but their customers as well. "Giving customers the convenience to pay when and where their schedule allows is a huge benefit for our clients and their customers," explained Lane.
Quantum Invoicing and Quantum Payments enable effortless, automated electronic invoicing and payments, including ACH and credit card payments. Quantum is designed to ensure customers receive their invoices the way they want and are able to pay securely across multiple channels.
Quantum Cash Application automates and accelerates the process by intelligently matching payments from multiple sources with decoupled remittance data using supervised machine-learning for the highest match rates in the industry. Quantum Cash App improves its predictive performance over time as exceptions are handled and noted by the system, resulting in higher auto match rates and accuracy.
This flexibility and automation allows businesses to meet the needs of their clients. "At Behler-Young Company, we strive to provide superior customer service. By partnering with Billtrust, we have been able to offer our customers a digital turnkey solution for invoice presentment, payment and cash application with 24/7 access at their fingertips," said Dawn Brekke, Accounting Manager at Behler-Young.