B2B Digital Payments News

Aliaswire Announces Advanced B2B Invoicing and Payment Capabilities for Manufacturers and Distributors

Aliaswire Announces Advanced B2B Invoicing and Payment Capabilities for Manufacturers and Distributors

Aliaswire, a provider of bill payment and credit solutions for businesses and banks, announced the general availability of new invoicing and payment capabilities for manufacturers and distributors in its DirectBiller® platform. The advanced features address the unique requirements of business-to-business (B2B) customer relationships and transactions in manufacturing and distribution.

Latest Fintech News: Outsourced Investment Firms Totaling Nearly $160 billion in Assets Under Advisement Adopt Lenox Park Solutions’ Diversity Tools

The announcement comes as Aliaswire builds on strong momentum in the segment. The company saw a 228% increase in dollar volume processed by manufacturers and distributors on its DirectBiller platform over the last 12 months.

The B2B ecosystem is trying to move away from paper-based processes and payment methods to digital workflows that speed the flow of funds between trading partners and enhance visibility into cash flow and partner payment status. But the shift has been slowed by the complexity of B2B customer relationships. There is typically a high degree of customization in product offerings and accompanying services, and pricing and payment terms can vary widely from one customer to another. Multi-page/item invoices, line-item disputes, credit memos, pre-set credit limits, and convenience payment fees are very common aspects that must be accounted for in the move to digital invoicing and payment.

Offered exclusively through bank partners, DirectBiller manages the entire end-to-end process from invoicing through payment reconciliation, integrating seamlessly with business ERP systems and their banks’ treasury management systems. The platform is able to pull, present and manage complex B2B invoice data from different sources, incorporating disputes, credit memos and daily net settlement of surcharge and convenience fees. DirectBiller also offers Request-for-Pay using the RTPÒ network to enable customers to manage their credit levels and assure the timely delivery of inventory and supply.

“Having your customer pay an invoice is one thing but reconciling that payment in a timely manner to reflect an accurate balance that takes into account things like credit memos, returns, and disputes, is entirely another,” said Jed Rice, CEO at Aliaswire. “DirectBiller helps manufacturers and distributors automate what is now a very messy and time-consuming process. As a result, they get paid faster, improve client satisfaction and reduce their cost of getting paid.”

Key features in DirectBiller for Manufacturing & Distribution

Bill Presentment

Full PDF presentment of complex and multi-page invoices
Custom field display and processing through the payment process such as customer IDs, product codes and PO numbers
Automated payment reminders

Latest Fintech News: MCO launches Know Your Risk (KYR) to Provide Financial Services Firms with Comprehensive Compliance Governance and Oversight

Bill Payment

Single payment transactions for multiple invoices
Easy application of credit memos against balance due
Individual invoice dispute
Multiple payment options (web, mobile, text, CSR, IVR)
One-time payment and auto pay

Flexible Card Processing and Fee Management

  • Patented technology streamlines daily net settlement of surcharges, convenience fees
  • Competitive “cost plus” interchange pricing, including Level 2/3 processing

Support for Multiple Divisions

  • Treat business units and product lines as separate entities; link each one to the corporate entity
  • Reporting at business unit/product level; consolidated at the corporate level
  • Each division can have:
    Unique payment websites

o Funds settled into unique deposit accounts

o Separate tender type choices (ACH + Credit Card, ACH-only, Credit Card Only)

o Separate payment fee rules (Credit Card + Fee and Free ACH)

o Separate bill and reconciliation files

o Controlled CSR access

Latest Fintech News: FFL Partners Makes Strategic Investment in Abacus Group, a Leading IT Managed Services Provider Focused on Financial Services

[To share your insights with us, please write to sghosh@martechseries.com]

Related posts

Expensify Introduces Concierge Travel, Optimized with COVID-19 Safety Features and Rescue Services for Business Travelers

Fintech News Desk

Major Tech Regulations Hit China and US: Could European Fintech Be Next?

Fintech News Desk

Ritual Partners With the City of Los Angeles and PayPal to Launch ‘Open for Business’ to Support Local Businesses

Fintech News Desk