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Billtrust a Leader in IDC MarketScape for AR automation

Friday, December 06, 2024 — 13:51:23 (EST)

HAMILTON TOWNSHIP, N.J., Dec. 5, 2024 /PRNewswire/ -- Billtrust, a B2B order-to-cash and digital payments market leader, has been named a Leader in two IDC MarketScape reports – IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment (doc #US51740924, December 2024) and IDC MarketScape: Worldwide Accounts Receivable Automation Applications for Small and Midmarket 2024 Vendor Assessment (doc #US52692224, December 2024).

Billtrust was one of 14 providers evaluated for the enterprise report and one of 11 providers in the small and midmarket report. The IDC MarketScapes evaluate a broad set of SaaS and cloud-enabled accounts receivable automation software vendors based on innovation, functionality, range of services, customer satisfaction, cloud capabilities and architecture.

"Billtrust is a Leader in the Accounts Receivable Automation Applications for Enterprise and Small and Midmarket," said Kevin Permenter, Research Director, Financial Applications at IDC. "Billtrust attempts to differentiate itself with a scalable, unified solution that simplifies AR processes and improvement to the payment experience their clients provide their customers, all while empowering their AR teams to turn financial data into insights that contribute to their business strategy. They offer an extensive suite of payment management capabilities designed to streamline and automate the accounts receivable process."

Billtrust was recognized for the following strengths:

Unified experience: "The unified platform enables customers to have an uninterrupted, AI-powered, complete view of customer activity across the entire AR process."

Reporting and data analytics: "Billtrust's solutions feature dynamic reporting and dashboards." The news of Billtrust's recognition as a Leader in the IDC MarketScape comes as B2B businesses are leveraging technology like generative AI to boost efficiency and optimize operations as they grapple with the challenges of cash flow management, according to a recent IDC InfoBrief study (IDC InfoBrief, sponsored by Billtrust, "AI Pushing the Boundaries of What's Possible for OTC," IDC #US52446224, August 2024). Billtrust recently announced new generative AI functionality within its accounts receivable software platform to empower finance professionals to better understand their business, make strategic decisions, maximize cash flow and engage customers more effectively.

"We are honored to be recognized as a Leader in the IDC MarketScape, which we believe reflects our dedication to innovation, digital transformation, and delivering exceptional customer outcomes," said Sunil Rajasekar, CEO of Billtrust. "In 2024, we achieved remarkable milestones, including the launch of our generative AI tool, Billtrust Finance Co-Pilot, which provides unmatched, in-depth analysis of customer data. We are proud to support finance teams in working more efficiently, accelerating payments, and enhancing the buyer experience."

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About Billtrust

Finance leaders turn to Billtrust to get paid faster while controlling costs, accelerating cash flow and maximizing customer satisfaction. As a B2B order-to-cash software and digital payments market leader, we help the world's leading brands move finance forward with AI-powered solutions to transition from expensive paper invoicing and check acceptance to efficient electronic billing and payments. With 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.

Media Contact

Paul Accardo PR@billtrust.com

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Source: Company press release.