JAGGAER and Billtrust to Deliver Invoicing Automation

Rhea-AI Summary

JAGGAER has partnered with Billtrust to enhance its Autonomous Commerce strategy, streamlining invoicing and reducing procurement risks. This collaboration allows suppliers to automate invoicing, decreasing manual tasks and associated costs. By improving cash flow for suppliers, it enhances their financial resilience. The partnership also promotes interoperability, facilitating growth for suppliers while simplifying processes for buyers. The move aligns with JAGGAER’s commitment to a fully digitized B2B commerce experience.

Positive

• Partnership with Billtrust automates invoicing, reducing manual work and costs for suppliers.
• Enhances supplier financial resilience through improved cash flow.
• Promotes efficient interoperability between buyers and suppliers.

Negative

• None.

The latest development in JAGGAER’s Autonomous Commerce strategy delivers faster and more accurate invoicing and reduces procurement risk by boosting supplier financial resilience

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- JAGGAER, the global leader in Autonomous Commerce, today announced a strategic relationship with Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation leader. Suppliers can now reduce manual work and lower administration cost by automating the process of sending out invoices within or outside of JAGGAER’s network of suppliers.

“Our vision for Autonomous Commerce is to create a truly frictionless and fully digitized experience for buyers and suppliers, and this relationship with Billtrust directly advances that goal,” said Jim Bureau, JAGGAER’s CEO. “By making invoicing activities effortless for suppliers, we’re enabling procurement teams to get their invoices sooner and speeding processing times. Suppliers’ increase in cash flow strengthens their financial resilience, reducing risk for buyers. This relationship also achieves efficient interoperability between both buyers and suppliers, allowing suppliers to scale their operations while creating a better experience at the same time. It’s a win-win for both parties.”

Billtrust enables suppliers to simply click a button within their existing financial system and successfully issue an invoice to a buyer without any manual work. When a supplier receives a purchase order (PO), they create an invoice which is sent to a specific email address assigned to that supplier by Billtrust. The Billtrust system autonomously processes and sends the invoice to the buyer on the JAGGAER ONE platform.

“JAGGAER’s vision for an intelligent and self-governing B2B Autonomous Commerce experience aligns well with our goal of modernizing accounts receivable operations,” said Steve Pinado, President, Billtrust. “We are excited to help JAGGAER digitally transform the invoicing process for their suppliers and buyers which enables both parties to focus on strategic and high value activities that have a more meaningful impact on their businesses.”

Suppliers that use Billtrust reduce portal fatigue. The system automatically identifies the portal associated with each buyer and invoice, eliminating the need for suppliers to log into various portals and key in PO and invoice information. Suppliers can also access one centralized portal with an overview of all their invoice activity enriched with payment status information.

Learn more about JAGGAER and its Autonomous Commerce strategy.

About JAGGAER: Autonomous Commerce

JAGGAER is leading the Autonomous Commerce revolution, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners. Over $500 billion worth of goods flow frictionlessly through our Enterprise Commerce Network every year. Leveraging AI and machine learning, our intelligent procurement solutions provide enterprise buyers and suppliers smart-match recommendations that align buyer needs with supplier capabilities. Our solutions autonomously execute many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce. We are Networked, Intelligent, Comprehensive and Extensible. We are over 1,100 employees strong, all focused on customer success. For more information, visit www.jaggaer.com

About Billtrust

Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated solutions to 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005205/en/

JAGGAER Media Contact

Abigail Holmes

Corporate Ink for JAGGAER

jaggaer@corporateink.com

+1 617.969.9192

Source: JAGGAER

FAQ

What is the significance of the JAGGAER and Billtrust partnership for BTRS investors?

The partnership automates invoicing processes, potentially increasing efficiency and cash flow for suppliers, which can positively impact BTRS's stock performance.

When was the partnership between JAGGAER and Billtrust announced?

The partnership was announced on June 1, 2022.

How does the collaboration benefit suppliers using BTRS?

Suppliers benefit by reducing manual invoicing tasks, leading to lower administration costs and improved cash flow.

What is JAGGAER's goal with its Autonomous Commerce strategy?

JAGGAER aims to create a frictionless and fully digitized B2B commerce experience.

How does this partnership align with the future of accounts receivable automation for BTRS?

The collaboration modernizes accounts receivable processes, positioning BTRS favorably in the evolving digital landscape.