US-based corporate procurement software provider Jaggaer has partnered with Billtrust which is a B2B account receivable automated company.

As noted, this is to aid suppliers to ‘reduce manual work and lower administration cost by automating the process of sending out invoices within or outside of Jaggaer’s network of suppliers’.

“By making invoicing activities effortless for suppliers, we’re enabling procurement teams to get their invoices sooner and speeding processing times”, said Jim Bureau, Jaggaer’s CEO.

Adding further, “Suppliers’ increase in cash flow strengthens their financial resilience, reducing risk for buyers. This relationship also achieves efficient interoperability between both buyers and suppliers, allowing suppliers to scale their operations”.

In company-related news, American Express partnered with Billtrust for accounts payable solutions and Billtrust also teamed up with KeyBank to expand its network.

The process is defined as Billtrust enabling suppliers to issue an invoice to a buyer without any manual work within their existing financial system and when a supplier receives a purchase order (PO), they send an invoice which is received at a specific email address assigned to that supplier by Billtrust.

Further, the ‘Billtrust system autonomously processes and sends the invoice to the buyer on the Jaggaer One platform’.

In all this, Suppliers would have access to one centralized portal with an overview of all their invoice activity with payment status information.

Jaggaer is a software provider which revolves around B2B commerce involving buyers, suppliers and IoT using AI and Machine Learning procurement solutions. While Billtrust is a provider of cloud-based software and integrated solutions to automate B2B commerce.

Source: JAGGAER and Billtrust to Deliver Invoicing Automation | JAGGAER