Billtrust Teams With Finexio To Expand Access To Digital B2B Tools

Finexio, which offers accounts payable payments-as-a-solution software, will partner with B2B order-to-cash solution provider Billtrust to provide speedier, more connected payments, according to a Monday (Aug. 3) press release.

Billtrust’s Business Payments Network (BPN) connects buyers and suppliers all on one platform as a way to bring together companies. With Finexio, the electronic payment methods can be offered to those now more-connected businesses, the release says.

Many companies in the past few months have accelerated their transformations to digital means, Finexio noted in the release, saying its software can eliminate 100 percent of manual payments. That can help finance teams work quicker, allowing them to cut down on work like contacting vendors and managing preferred payment methods. And the time it takes to track payments being sent or received is cut down, the release says.

“We’re excited about Billtrust’s ability to reduce our efforts in making payments to their network of large and complex suppliers as part of our ongoing commitment to provide a complete suite of B2B payment services to our customers,” said Finexio Founder and CEO Ernest Rolfson. The new partnership “enables us to better serve our customers as we continue to scale,” he said.

According to the release, Finexio has has boosted its revenue 159 percent over the past few quarters as companies search for cost-effective strategies for payments.

Citing that growth, Billtrust Vice President and General Manager of BPN Nick Babinsky said it meant even more businesses in the network would have access to the services.

“Every supplier has their own preferred payment method, and this partnership allows for more seamless transactions and fewer delays,” he said, according to the release.

Billtrust also recently added tools to help companies access email billing, speedier cash flow and automation, PYMNTS reported. The tools are meant to help companies better navigate the new digital work style of the pandemic.