Addresses complex requirements in B2B customer relationships
Sees 228% increase in payment dollar volume from manufacturers and distributors over the last 12 months
BURLINGTON, Mass., June 30, 2022 (GLOBE NEWSWIRE) -- Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today 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.
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 RTP 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
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
- Funds settled into unique deposit accounts
- Separate tender type choices (ACH + Credit Card, ACH-only, Credit Card Only)
- Separate payment fee rules (Credit Card + Fee and Free ACH)
- Separate bill and reconciliation files
- Controlled CSR access
About Aliaswire, Inc.
Aliaswire is a fintech company based in Boston with a history of innovation in payments. The company supports leading financial institutions and merchant services providers with bill pay through DirectBiller® and small business credit solutions through PayVus®. For more information, visit https://www.aliaswire.com/.
