B2B payment cycle management facilitator Billtrust has joined forces with Flywire, a payment and receivables solutions provider, to offer an integrated solution that will enable its business customers collect international payments easily.
Flywire said the solution will combine its international payment processing and receivable features and Billtrust’s automated invoice delivery and payment services to reduce international wire fee expenses.
Using the integrated solution, the companies can also securely share account and invoice details while matching reconciliation data on the backend.
Flywire will also deliver an interface, which will enable payers to track cross-border payments to Billtrust customers with their preferred currency and payment type.
Under the partnership, the two companies will also collaborate on research, marketing and sales.
Flywire CEO Mike Massaro said: “When it comes to expanding internationally, a lot of businesses underestimate the added complexity involved with core things like invoicing and getting paid by customers in different countries.
“Extended Days Sales Outstanding (DSO), short-balance payments and manual reconciliation are just some of the major challenges companies face. Working together, Flywire and Billtrust can streamline the international receivables process and make it easier for Billtrust’s customers to lower their administrative costs while expanding globally.”