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American Express Partners with Billtrust to Offer Suppliers a Solution to Accounts Receivable Challenges
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
American Express (NYSE: AXP) has partnered with Billtrust (NASDAQ: BTRS) to enable suppliers to efficiently accept American Express virtual cards. This collaboration streamlines the accounts receivable process, allowing suppliers to automate payments and gain real-time visibility of their invoices and cash flow. The integration aims to enhance digital payment options in response to increasing demand for efficient payment solutions, moving businesses away from traditional paper-based methods. This partnership highlights both companies' commitment to improving supplier and customer experiences.
Positive
Collaboration with Billtrust aims to streamline acceptance of American Express virtual cards.
Suppliers will gain real-time visibility into outstanding invoices and cash flow.
Efficient automation of payments may enhance supplier satisfaction.
Negative
None.
Suppliers accepting American Express virtual cards will now have a new, simple way to receive and see their accountsreceivable through Billtrust
NEW YORK--(BUSINESS WIRE)--
American Express Company (NYSE: AXP) today announced a collaboration with Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, to enable suppliers to streamline acceptance of American Express virtual cards. With this integration, suppliers will have the ability to automate and accelerate virtual card payments from customers while receiving a real-time view of their outstanding invoices and current cash flow.
“In this current environment of increased demand for goods and services and an accelerated need for efficient payment processes, businesses are moving away from paper-based payments to electronic payments for the greater visibility and speed they provide,” said Colleen Taylor, President, Global Merchant Services – U.S. at American Express. “While this trend is helping to benefit business buyers and suppliers with faster payments and greater cash flow, it has left some suppliers in need of an automated accounts receivable solution that can keep up.”
Billtrust’s leading order-to-cash platform offers suppliers a complete solution for every accounts receivable (AR) process including credit decisioning, ordering, invoicing, payments, cash application and collections. It also includes access to Billtrust’s Business Payments Network (BPN), which connects suppliers to hundreds of buyer portals and the buyers they represent, allowing unprecedented levels of invoicing and digital payment acceptance efficiency. By simplifying and automating B2B commerce, Billtrust helps companies transition from expensive paper invoicing and check acceptance to efficient electronic billing and payments.
“We are proud to partner with American Express to continue to grow supplier card acceptance and improve the digital payments experience,” said Flint Lane, CEO, Billtrust. “Both Billtrust and American Express recognize the need to support merchants and suppliers in responding to buyer demands for digital payment options. This collaboration brings automation to American Express merchants and suppliers, helping create better outcomes and increased customer satisfaction.”
Suppliers interested in learning more should reach out to their dedicated American Express client manager for information.
Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.
