Aliaswire announces advanced B2B invoicing and payment capabilities

By Edlyn Cardoza

Aliaswire, a provider of bill payment and credit solutions for businesses and banks, recently 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 customisation 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 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 can 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.”