Billtrust Unified AR

What we like the most about Billtrust is how well the platform ties everything together across the full order-to-cash cycle. The areas that stand out for us are: (1) Collections Module: The automation and workflow tools have really helped out credit team improve their work. The module presents flexible strategies, automated reminders, and a complete view of each account. As a result, we have been able to improve follow-ups, reduce aging, and bring more consistency and structure to the collections process. The recent addition of AI-generated draft responses to customer emails has been a nice enhancement; (2) Cash Application Automation: This has been a major addition to our process. The module uses machine learning to match customer remittances to open invoices in our ERP, which cuts down the need for manual matching and improve reconciliation significantly. In turn, this has allowed us to reallocate resources and improve efficiency in the department; (3) Invoicing & Payments: This service has allowed us to give customers options in how they receive and pay invoices (electronically, email, or regular mail) in a more consistent, professional, and easier way for the customers. The Billtrust team has also helped us to improve our ePresentment rate of our invoices, which has led to a more efficient and effective way of invoice delivery. One unexpected benefit is that we have seen a noticeable uptick in customers paying late fees, likely because the customer portal is much easier to use and to process payments.

Nothing totally stands out in my mind as above and beyond.

1. We really like the payment site options that we are able to offer to our customers outside of our standard direct ACH options. This option allows for them to pay their invoices right in one location through additional payment options that makes doing business with our customers easier. 2. Our AR team spent countless hours manually managing and sending invoices, reminders, etc.. With Billtrust, this has automated processes that used to impact overall portfolio efficiencies and has helped improve productivity within our organization. 3. The physical mailings option provides us with additional functionality to effectively get our invoices/statements to our customers in a timely fashion. This is a process that we don't have to dedicate major resource time to and they handle everything for us. Our CSM team is fantastic and always makes time for us to discuss arising issues, topics, etc.

There are a few areas where we think there is room for improvement: (1) Reporting and Dashboards: We would like to see more flexibility in building custom dashboards and reporting, so they can be more aligned with finance-specific KPIs. (2) Collections strategy management: Setting up and managing collection strategies can be a bit cumbersome at times. It works well, but it is not as intuitive or streamlined as the rest of the platform. (3) Customer portal branding: The customer portal gets the job done. However, there's an opportunity to make the customer experience feel more aligned with our brand.

The limited capabilities of the ClientConnect and Payment sites when running reporting and analytics.

The main issue we have experienced with this product is the lack of our understanding as to what requires significant lift from our solutioning/service support teams at Billtrust when questions about future enhancements to our account are made. Something the Billtrust team is actively working with us on.