Websites using Billtrust

Okay, let s break down Billtrust, covering its overview, revenue, alternatives, pricing, and customer care.

Billtrust: Overview

Billtrust is a business-to-business (B2B) accounts receivable (AR) automation and integrated payments platform. In simple terms, it helps companies (mostly larger ones) streamline how they invoice customers, get paid, and manage their cash flow.

• Core Focus: Automating and optimizing the entire order-to-cash cycle. This includes:
  • Invoicing: Electronic invoicing (e-invoicing), customized invoice delivery, and invoice presentment through online portals.
  • Payments: Accepting payments through various channels (ACH, credit card, virtual card), automated cash application, and reconciliation.
  • Collections: Automated dunning notices, payment reminders, and dispute management.
  • Cash Application: Automatically matching payments to invoices, reducing manual work for accounting teams.
  • Credit Management: Evaluating customer credit risk and setting credit limits.
• Target Audience: Mid-sized to large businesses, particularly those with complex billing requirements, high invoice volumes, and a need to improve cash flow. Industries served include manufacturing, wholesale distribution, transportation, and financial services.
• Key Benefits:
  • Faster payments and reduced days sales outstanding (DSO).
  • Lower operational costs (less manual processing).
  • Improved customer satisfaction (easier payment options, better communication).
  • Enhanced cash flow forecasting and management.
  • Reduced errors and improved data accuracy.

Revenue

• Billtrust was acquired by EQT in September 2022.
• As a privately held company, it does not report its financials to the public now.
• Historically: Prior to the acquisition, Billtrust reported annual revenue in the hundreds of millions of dollars. Their revenue model is based on a combination of subscription fees for the platform and transaction fees for payment processing.

Alternatives

The AR automation space is competitive. Here are some of the major alternatives to Billtrust:

• HighRadius: A comprehensive AR automation platform, often considered a direct competitor to Billtrust, especially for larger enterprises. HighRadius is generally considered more expensive and more robust, often requiring dedicated IT resources.
• BlackLine: While BlackLine is broader (focused on financial close management), it also has strong AR automation capabilities and integrates with other accounting software.
• YayPay by Quadient: Offers a modern and user-friendly interface with strong focus on collections automation and predictive analytics.
• Versapay: Specializes in collaborative accounts receivable, focusing on payment portals and customer self-service.
• Tipalti: More focused on accounts payable (AP) automation, but has some AR capabilities and integrated payments. Good for companies also looking to streamline their outbound payments.
• Stampli: Another AP automation platform with some overlap in invoice processing.
• Melio: Geared more towards small businesses and simpler invoicing needs. Excellent for companies primarily needing to pay vendors efficiently.
• QuickBooks Online Advanced/Xero: For very small businesses, the built-in invoicing and payment features of these accounting packages might be sufficient. However, they lack the advanced automation of dedicated AR platforms.

Factors to consider when choosing an alternative:

• Company size and complexity: Smaller businesses may not need the full suite of features offered by Billtrust and could opt for a more affordable and simpler solution.
• Industry-specific needs: Some industries have unique billing requirements that may be better addressed by a specialized platform.
• Integration with existing systems: The chosen platform must integrate seamlessly with the company s accounting software (e.g., NetSuite, SAP, Oracle) and other business systems (e.g., CRM).
• Budget: AR automation solutions vary significantly in price.
• Desired level of automation: Some companies want a fully automated system, while others prefer a more hands-on approach.
• Payment processing needs: Consider the types of payments you need to accept and the associated fees.

Pricing

• Not Publicly Available: Billtrust s pricing is not publicly available. It s typically customized based on the specific features needed, the volume of invoices processed, the number of users, and the types of payment transactions.
• Subscription + Transaction Fees: The pricing model usually involves a subscription fee for the platform and transaction fees for payment processing.
• Enterprise-Level Pricing: Billtrust is generally considered an enterprise-level solution, meaning it s typically more expensive than solutions aimed at smaller businesses.
• Negotiation: Pricing is often negotiable, especially for larger companies with significant volume.

To get an accurate quote: You would need to contact Billtrust directly and discuss your specific requirements. During the sales process, be sure to ask about all potential costs, including implementation fees, training fees, and ongoing support fees.

Customer Care Details

• Support Channels: Billtrust typically offers customer support through a variety of channels, including:
  • Phone: Phone support is usually available during business hours.
  • Email: Email support for less urgent issues.
  • Online Portal/Knowledge Base: A self-service portal with articles, FAQs, and documentation.
  • Dedicated Account Managers: Larger clients may have assigned account managers to provide personalized support.
• Service Level Agreements (SLAs): Billtrust often has SLAs in place that guarantee certain levels of uptime and response times.
• Implementation Support: They provide implementation support to help customers get the platform up and running.
• Training: Billtrust offers training to help users learn how to use the platform effectively.
• Customer Reviews: Customer reviews of Billtrust s customer support are mixed. Some customers praise their responsiveness and expertise, while others report issues with long wait times or difficulty resolving complex issues. It s always a good idea to check recent reviews on sites like G2, TrustRadius, and Capterra to get a sense of current customer satisfaction levels.

Key Takeaways about Customer Care:

• Enterprise Focus: Billtrust is geared towards larger companies, so their support may be better suited for organizations with more complex needs.
• Inquire about SLAs: When evaluating Billtrust, be sure to ask about their SLAs and what guarantees they offer.
• Check Recent Reviews: Read recent customer reviews to get an up-to-date understanding of their customer support performance.

In conclusion, Billtrust is a powerful AR automation platform that can help businesses streamline their order-to-cash cycle, improve cash flow, and reduce operational costs. However, it s important to carefully evaluate your specific needs and budget before making a decision, and to compare Billtrust to other alternatives in the market. Consider reaching out to Billtrust and its competitors for demos and pricing quotes. Also, check recent reviews of their customer support to ensure they can meet your needs.