Billtrust Positioned as the Leader in the 2023 SPARK Matrix™ for Accounts Receivable Applications

Rhea-AI Summary

Billtrust named a technology leader in the global Accounts Receivable Applications market

Positive

• Billtrust received the highest overall ratings in the SPARK Matrix analysis
• Billtrust ranked highly in attributes such as range of services, unified AR platform, scalability, and AI integration
• Billtrust's accounts receivable application optimizes financial operations, elevates cash flow management, reduces operational costs, and enhances customer interactions
• Billtrust offers comprehensive solutions to automate invoice delivery, payment processing, and cash application
• Billtrust empowers businesses with improved visibility, a simplified tech stack, and enhanced payment reception capabilities
• Billtrust is recognized as a Leader in the G2 Grid Report for Accounts Receivable Automation Software

Negative

• Escalating labor costs and interest rates, as well as staffing challenges and work-from-anywhere environments, are driving demand for automation and digitization

B2B Order-to-Cash and Digital Payments Leader Received Highest Overall Rating

LAWRENCEVILLE, N.J., Oct. 19, 2023 /PRNewswire/ -- Billtrust, a B2B order-to-cash and digital payments market leader, announced today that it has been named a 2023 technology leader in the SPARK Matrix™ analysis of the global Accounts Receivable (AR) Applications market. Produced by Quadrant Knowledge Solutions, the SPARK Matrix is a snapshot of the market positioning of key vendors in AR where participants are analyzed against several parameters of technology excellence and customer impact. As one of 19 vendors, Billtrust received the highest overall ratings and ranked highly in several attributes including range of services, unified AR platform, scalability, AI integration and more. The full report can be accessed here, and a recent webinar featuring Vishal Jagasia, Senior Analyst at Quadrant Knowledge Solutions, can be viewed here. 

According to Vishal Jagasia, "Billtrust's accounts receivable application sets a new standard in optimizing financial operations. Their cloud-based solution, finely tuned to the needs of modern businesses, elevates cash flow management, reduces operational costs and enhances customer interactions. A leader in the marketspace of B2B order-to-cash, Billtrust empowers organizations to navigate the future of finance with ease and agility."

"Billtrust offers comprehensive solutions to automate invoice delivery, payment processing and cash application," said Dharun Rajasekaran, Analyst at Quadrant Knowledge Solutions. "The company's strategic advantage lies in its range of services, including managed services, professional consulting and implementation support. By accelerating cash flow and providing a unified platform, Billtrust empowers businesses with improved visibility, a simplified tech stack and enhanced payment reception capabilities."

"We believe this recognition from Quadrant Knowledge Solutions is emblematic of what our over 2,600 global customers already know – that Billtrust provides them with the best platform to digitize and automate order-to-cash operations to shield their financial health and maintain cash flow certainty," said Sunil Rajasekar, Billtrust CEO.

Escalating labor costs and interest rates, as well as staffing challenges and work-from-anywhere environments, are driving demand for more automation and digitization to reduce costs and increase efficiency. As a recognized B2B order-to-cash and digital payments market leader, Billtrust is able to address these challenges through its cloud-based software and integrated payment processing solutions that enable organizations to accelerate cash flow, lower AR costs and improve the customer experience.

Billtrust's SPARK Matrix leadership position builds on the company's recent recognition as a Leader in the G2 Grid® Report for Accounts Receivable Automation Software for Fall 2023. This is the tenth consecutive quarter in which Billtrust has been recognized as a Leader by G2, one of the world's largest and most trusted software marketplaces.

About Billtrust
Finance leaders turn to Billtrust to control costs, accelerate cash flow and improve customer satisfaction. As a B2B order-to-cash software and digital payments market leader, we help the world's leading brands get paid faster while transitioning from expensive paper invoicing and check acceptance to efficient electronic billing and payments. With over 2,600 global customers and more than $1 trillion invoice dollars processed, Billtrust delivers business value through deep industry expertise and a culture relentlessly focused on delivering meaningful customer outcomes.

About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients as a strategic knowledge partner in achieving business transformation goals with Strategic Business and Growth Advisory Services. Quadrant's research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, visit: https://quadrant-solutions.com/market-research/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/billtrust-positioned-as-the-leader-in-the-2023-spark-matrix-for-accounts-receivable-applications-301960817.html

SOURCE Billtrust

FAQ

What is the significance of Billtrust being named a technology leader in the global Accounts Receivable Applications market?

Billtrust's recognition as a technology leader highlights its excellence in providing solutions for optimizing financial operations and improving cash flow management.

What are the key attributes in which Billtrust ranked highly in the SPARK Matrix analysis?

Billtrust ranked highly in attributes such as range of services, unified AR platform, scalability, and AI integration.

What solutions does Billtrust offer for businesses?

Billtrust offers comprehensive solutions to automate invoice delivery, payment processing, and cash application.

What recognition has Billtrust recently received in the accounts receivable automation software market?

Billtrust has been recognized as a Leader in the G2 Grid Report for Accounts Receivable Automation Software.

What factors are driving the demand for automation and digitization in the market?

Escalating labor costs and interest rates, staffing challenges, and work-from-anywhere environments are driving the demand for automation and digitization.