U.S. Bank today introduced a comprehensive accounts receivable (AR) platform to help suppliers accelerate cash flow, cut costs through automation and deliver better payment experiences. Created in par...
Advanced Receivables transforms the payment process for suppliers to reduce costs, improve payment experiences and accelerate cash flow
MINNEAPOLIS: U.S. Bank today introduced a comprehensive accounts receivable (AR) platform to help suppliers accelerate cash flow, cut costs through automation and deliver better payment experiences. Created in partnership with Billtrust, U.S. Bank Advanced Receivables brings together the bank’s leading payment and risk management capabilities with Billtrust’s top AR technology to improve the intricate business-to-business (B2B) receivables process.
“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 U.S. Bank Global Treasury Management. “With U.S. Bank Advanced Receivables, businesses can transform their entire receivables process to drive down costs and gain real-time visibility into their financial position and cash flow.”
The introduction of U.S. Bank Advanced Receivables comes as senior finance leaders increase their focus on operational efficiency. The latest U.S. Bank CFO Insights Report found that the top priority for U.S. corporate finance leaders is cutting costs within the finance function. The survey of more than 2,000 finance leaders found that they are prioritizing technology investments as the primary solution for driving down costs.
U.S. Bank Advanced Receivables consists of five core solutions to modernize the entire receivables process:
U.S. Bank Advanced Receivables builds upon the bank’s complementary digital payment solutions designed to improve efficiencies for corporate finance functions. Since 2021, companies have utilized U.S. Bank AP Optimizer to automate their accounts payable processes, from invoice receipt to payment disbursement. With Advanced Receivables and AP Optimizer, U.S. Bank can now help companies digitize and automate their end-to-end B2B payment processes.
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. Bank
U.S. Bancorp, with more than 70,000 employees and $680 billion in assets as of June 30, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.
Disclosures: Deposit products are offered by U.S. Bank National Association. Member FDIC.
Fonte: Business Wire
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