Billtrust, a provider of outsourced billing services, announced the launch of Invoice Central, a cloud-based business invoice network that is focused on streamlining invoice delivery and payment for both vendors and small and midsize businesses (SMBs). Invoice Central provides vendors with a hub-based approach to deliver invoices and accept payments electronically.
Small businesses can sign up for free, log in and begin receiving and paying invoices from multiple vendors from one Website. Invoice Central is designed to provide small-business owners with a one-stop location for invoice and payment management, helping them avoid late fees, maximize early-pay discounts and save time by scheduling future payments.
The Invoice Central model has already taken hold in the business-to-consumer market, which offers consumers many bill-aggregation options, said Billtrust CEO Flint Lane. Lane said that his company is in a unique position to launch a business invoice network like Invoice Central. "Perhaps no one in the industry has the breadth of experience in electronic billing that Billtrust has, Lane said. We have the infrastructure in place to support the security, marketing and payment network that is absolutely necessary for widespread adoption."
Invoice Central enables users to schedule future payments and allows businesses to capitalize on early payment discounts. Invoice Central also provides companies with online access to their complete billing and payment history. According to Rob Richardson, credit director at Corken Steel, Invoice Central makes a lot of sense. Our company has made a strong commitment to driving electronic adoption among our customer base, he said. Invoice Central creates a win for us by creating a win for our customers.
On the vendor side, Invoice Central offers an array of benefits, even for electronic billing-savvy vendors, and provides vendors with an opportunity to expand their electronic invoicing footprint, thereby reducing processing costs and payment-processing expenses. Invoice Central expedites payment through the ACH network and enables faster payment application with files that are configured for vendor accounts receivable systems.