U.S. Bank introduces automated, end-to-end supplier accounts receivable platform
U.S. Bank has launched U.S. Bank Advanced Receivables, a comprehensive accounts receivable (AR) platform developed in partnership with Billtrust. This innovative solution aims to help suppliers accelerate cash flow, reduce costs through automation, and enhance payment experiences. The platform addresses challenges in the B2B receivables process, offering five core solutions: Invoicing, Payments, Cash Application, Collections, and Credit.
This introduction aligns with the findings of the U.S. Bank CFO Insights Report, which revealed that cutting costs within the finance function is the top priority for U.S. corporate finance leaders. The Advanced Receivables platform complements U.S. Bank's existing AP Optimizer, enabling companies to digitize and automate their entire B2B payment processes.
U.S. Bank ha lanciato U.S. Bank Advanced Receivables, una piattaforma completa per la gestione dei crediti sviluppata in collaborazione con Billtrust. Questa soluzione innovativa mira ad aiutare i fornitori a accelerare il flusso di cassa, ridurre i costi tramite l'automazione e migliorare le esperienze di pagamento. La piattaforma affronta le sfide nel processo di gestione dei crediti B2B, offrendo cinque soluzioni principali: Fatturazione, Pagamenti, Applicazione dei pagamenti, Recupero crediti e Credito.
Questa introduzione è in linea con i risultati del U.S. Bank CFO Insights Report, che ha rivelato che ridurre i costi nella funzione finanziaria è la priorità principale per i leader della finanza aziendale negli Stati Uniti. La piattaforma Advanced Receivables completa l'esistente AP Optimizer di U.S. Bank, permettendo alle aziende di digitalizzare e automatizzare l'intero processo di pagamento B2B.
U.S. Bank ha lanzado U.S. Bank Advanced Receivables, una plataforma integral de cuentas por cobrar (AR) desarrollada en colaboración con Billtrust. Esta solución innovadora tiene como objetivo ayudar a los proveedores a acelerar el flujo de efectivo, reducir costos a través de la automatización y mejorar las experiencias de pago. La plataforma aborda los desafíos en el proceso de cuentas por cobrar B2B, ofreciendo cinco soluciones principales: Facturación, Pagos, Aplicación de efectivo, Cobranza y Crédito.
Esta introducción se alinea con los hallazgos del U.S. Bank CFO Insights Report, que reveló que reducir costos dentro de la función financiera es la máxima prioridad para los líderes financieros corporativos de EE. UU. La plataforma Advanced Receivables complementa el existente AP Optimizer de U.S. Bank, permitiendo a las empresas digitalizar y automatizar todo su proceso de pagos B2B.
U.S. Bank가 U.S. Bank Advanced Receivables를 출시했습니다. 이는 Billtrust와 협력하여 개발된 종합 계정 수령 플랫폼입니다. 이 혁신적인 솔루션은 공급업체가 현금 흐름을 가속화하고, 자동화를 통해 비용을 줄이며, 결제 경험을 향상시키는 데 도움을 주기 위해 설계되었습니다. 이 플랫폼은 B2B 수령 과정의 도전을 해결하며, 다섯 가지 핵심 솔루션을 제공합니다: 청구서 발행, 결제, 현금 적용, 채권 추심 및 신용.
이번 도입은 U.S. Bank CFO Insights Report의 결과와 일치하며, 보고서에 따르면 재무 기능 내 비용 절감이 미국 기업 재무 리더의 최우선 과제라 밝혔습니다. Advanced Receivables 플랫폼은 U.S. Bank의 기존 AP Optimizer를 보완하여 기업이 전체 B2B 결제 프로세스를 디지털화하고 자동화할 수 있도록 합니다.
U.S. Bank a lancé U.S. Bank Advanced Receivables, une plateforme complète de comptes clients (AR) développée en partenariat avec Billtrust. Cette solution innovante vise à aider les fournisseurs à accélérer le flux de trésorerie, réduire les coûts grâce à l'automatisation et améliorer les expériences de paiement. La plateforme répond aux défis du processus de créances B2B, offrant cinq solutions clés : Facturation, Paiements, Application des paiements, Recouvrements et Crédit.
Cette introduction est en accord avec les résultats du U.S. Bank CFO Insights Report, qui a révélé que réduire les coûts au sein de la fonction financière est la priorité absolue pour les dirigeants financiers d'entreprise aux États-Unis. La plateforme Advanced Receivables complète l'AP Optimizer existant de U.S. Bank, permettant aux entreprises de numériser et d'automatiser l'ensemble de leurs processus de paiement B2B.
Die U.S. Bank hat U.S. Bank Advanced Receivables gestartet, eine umfassende Plattform für Forderungen, die in Zusammenarbeit mit Billtrust entwickelt wurde. Diese innovative Lösung soll Lieferanten helfen, den Cashflow zu beschleunigen, Kosten durch Automatisierung zu senken und die Zahlungserlebnisse zu verbessern. Die Plattform geht auf Herausforderungen im B2B-Forderungsprozess ein und bietet fünf Kernlösungen: Rechnungsstellung, Zahlungen, Zahlungsanwendung, Inkasso und Kredit.
Diese Einführung stimmt mit den Ergebnissen des U.S. Bank CFO Insights Reports überein, der zeigte, dass die Senkung der Kosten im Finanzbereich für die Finanzleiter in den USA oberste Priorität hat. Die Advanced Receivables-Plattform ergänzt den bestehenden AP Optimizer von U.S. Bank und ermöglicht es Unternehmen, ihre gesamten B2B-Zahlungsprozesse zu digitalisieren und zu automatisieren.
- Introduction of a comprehensive AR platform to improve B2B receivables process
- Partnership with leading AR technology provider Billtrust
- Potential for cost reduction and improved cash flow for suppliers
- Alignment with corporate finance leaders' priority of cutting costs
- Complementary to existing AP Optimizer, offering end-to-end B2B payment process automation
- None.
Insights
The launch of U.S. Bank Advanced Receivables platform is a significant step towards addressing the inefficiencies in the B2B payment ecosystem. By automating the accounts receivable (AR) processes, businesses can expect a reduction in manual errors and operational costs. This development is in line with the findings from the U.S. Bank CFO Insights Report, which highlighted the growing importance of operational efficiency and technology investments in corporate finance. For retail investors, this signals that U.S. Bank is actively pursuing innovation to enhance its service offerings, which could improve its competitive positioning and potentially its market share in the long run.
Moreover, the partnership with Billtrust, a recognized leader in AR technology, adds credibility and expertise to the platform. This collaboration is likely to enhance U.S. Bank's reputation in the market and attract more corporate clients looking for comprehensive digital solutions. Investors may find this development particularly appealing given the trend towards digital transformation in the financial industry.
In the short term, the launch may not have an immediate impact on the stock price, but it sets the stage for long-term growth through improved service efficiency and client satisfaction. It's a strategic move that aligns well with the broader industry shifts towards digitization and automation.
The integration of Billtrust's AR technology with U.S. Bank's payment and risk management capabilities is a noteworthy advancement. This platform leverages automation to streamline invoicing, payments, cash applications, collections and credit processes. The key benefit here is the reduction of manual intervention, which not only cuts costs but also speeds up transaction times and reduces the likelihood of errors.
From a technological standpoint, this innovation addresses several pain points in the traditional AR process. For instance, the automated invoicing and payment options can significantly enhance cash flow management for businesses. Furthermore, the seamless remittance process and higher match rates in cash applications offer a more reliable and efficient financial operation for suppliers.
Retail investors should view this as a positive development, indicating U.S. Bank's commitment to staying ahead in the fintech space. The move to integrate advanced technology solutions demonstrates a forward-thinking approach that could lead to increased client retention and the acquisition of new business customers.
The launch of U.S. Bank Advanced Receivables is timely, considering the current emphasis on operational efficiency within corporate finance. The platform addresses the critical needs of suppliers by offering a more efficient and automated AR process, which can lead to substantial cost savings and improved cash flow visibility.
This move by U.S. Bank can be seen as a strategic response to the growing demand for digital transformation in the financial services sector. By partnering with Billtrust, U.S. Bank is not only enhancing its technological capabilities but also solidifying its market presence in the competitive B2B payments space.
For investors, this development highlights U.S. Bank's proactive approach to innovation and its focus on delivering value-added services to clients. In the long-term, such initiatives are likely to drive customer loyalty and generate higher revenues, making U.S. Bank a more attractive investment prospect.
Advanced Receivables transforms the payment process for suppliers to reduce costs, improve payment experiences and accelerate cash flow
“Suppliers face many challenges from the time they receive an order until the cash is in their account. This includes numerous manual and paper-based steps, a cumbersome credit process, billing errors and payment delays,” said Alberto Casas, head of product for
The introduction of
- Invoicing: Provides treasury teams and their buyers flexible and automated invoice delivery options that increase digital payments.
- Payments: After a company’s terms are established, buyers are offered flexible, secure and convenient payment options, including payments via virtual credit cards and ACH.
- Cash Application: With a seamless remittance process, suppliers achieve higher match rates and easier exception handling.
- Collections: Optimizes collections with customized outreach approaches, automation of repetitive tasks and better cash forecasting.
- Credit: The platform is designed for a more efficient way of extending credit to buyers. A customized, secure credit application process eliminates slow manual exchange of information and improves risk management.
Billtrust is a leading provider of end-to-end accounts receivables solutions that help companies control their order-to-cash operations and empower data to boost their bottom lines. Billtrust’s seamless, integrated AR system streamlines invoicing, payment processing, cash application and collections, while providing needed insights into cash flow.
About
U.S. Bancorp, with more than 70,000 employees and
Disclosures: Deposit products are offered by
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723115776/en/
Todd Deutsch,
todd.deutsch@usbank.com
Source: U.S. Bancorp
FAQ
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