Billtrust, a B2B order-to-cash solutions provider, has partnered with accounts payable automation firm Corporate Spending Innovations (CSI) for automated payments.
The alliance will involve the integration of CSI payment platform into Billtrust’s Business Payments Network (BPN). This will allow customers to automate the delivery of payments to suppliers around the network.
Moreover, CSI will provide BPN with access to financial institutions using their platform.
BPN is a supplier-driven platform that enables delivery of electronic payments. Corporate buyers and financial institutions can use the platform to deliver their payments directly into suppliers’ acceptance platforms.
Billtrust works to automate credit decisioning and monitoring, payment capture, invoice delivery, cash application and collections in order to speed up cash flow.
Billtrust vice president and general manager of Business Payments Network Nick Babinsky said: “We’ve long recognised CSI as an AP innovator that continually increases volume to suppliers in our network.
“We’re thrilled to formally announce that we are partnering with CSI as they expand BPN supplier access to their corporate customers and financial institutions.”
BPN was founded in 2018 and has been expanding suppliers and network partners. More than one million transactions have passed via the network, with invoices pay total of more than $275bn.
CSI president David Disque said: “Seamlessly integrating with Billtrust’s Business Payments Network offers our customers more opportunities to deliver supplier payments and strengthen trade relationships.
“Billtrust is the premier provider of accounts receivable solutions and has revolutionised digital B2B payments with BPN, so I’m very pleased to add them to our growing list of strategic technology partners.”