Billtrust, the leader in B2B order-to-cash solutions, announced today the launch of Billtrust Collections, a solution that transforms the collections process by giving accounts receivable (A/R) teams powerful tools to automate contact management, prioritize accounts strategically, and build stronger customer relationships.
With 90% of American B2B companies reporting late payments by their customers, and an increase in days sales outstanding (DSO) amongst the top 1,000 U.S. companies, collections analysts are more crucial than ever to the overall financial health of their companies.
However, despite similarities that collections professionals share with other critical roles such as sales, including the ways in which they think through their accounts, in general, collections professionals have lacked the tools needed to strategically execute their workflows. Billtrust Collections addresses this problem by providing an elegant, scalable, and adaptable platform that gives analysts a simplified, yet more powerful way to drive revenue assurance for organizations while strengthening customer relationships in the process.
"Billtrust Collections not only simplifies the collections process and furthers Billtrust's mission to streamline the entire order-to-cash lifecycle, but it also elevates the role of the collections professional," said Derek Bluestone, Executive Vice President of Product at Billtrust. "While the main goal of collections is to ensure the business gets paid, by equipping their analysts with Billtrust Collections, organizations can empower them to not only contribute to the financial health of the company, but to its overall customer experience as well."
Billtrust Collections enables companies to upgrade their collections approach by:
Strengthening Customer Relationships Billtrust Collections helps analysts provide outstanding, consistent customer experiences. Armed with a dashboard that provides a holistic account view, you'll always know a customer's historical behavior, enabling you to prescribe the right approach when it comes to collections. As a result, teams are able to put customer experiences at the forefront of their collections strategies.
Prioritizing Each Day Efficiently The more time goes on, the less likely a customer will pay in full. With Billtrust Collections, teams are set up for success each day with a prioritized worklist. Prescribed collections policies queue up next steps and relevant account details, ensuring the right mix of tone and frequency while increasing the team's ability to make a positive financial impact.
Providing Insight & Control Over Policies & Touchpoints Billtrust Collections offers greater control over policies and touchpoints, and gives stakeholders across the organization critical visibility into processes. As a result, departments benefit from increased alignment between collections and sales teams, and never question which accounts are being contacted and the approach taken.
Simplifying & Automating Contact Management Eliminate manual and administrative burdens with automated contact management. Email templates and scripts are stored within the system, and automatically updated based on specific account details so that information is accurate and current. With a simplified and automated process, it's easier to reduce overdue receivables and risk without affecting customer relationships.
Billtrust Collections will make its debut onstage at this year's Billtrust Summit taking place from April 14 to 17, 2019, in New Orleans, Louisiana. This multi-day, customer event is centered around innovations, conversations, and insights, exploring a range of order-to-cash topics.
Billtrust provides cloud-based order-to-cash solutions to thousands of small to large-sized organizations in order to help them streamline processes, get paid faster, and enhance the customer experience. The company is headquartered in Lawrenceville, New Jersey, and has offices in Denver and Chicago.