Payments technology company linked2pay has rolled out a solution, dubbed CustomerConnect, to eliminate late B2B invoice payments.

The company claims that the newly launched platform is designed to unify and automate credit applications, result assessments, invoicing, and collection of payments.

The company cited a report by Mercator Advisory Group that says the majority (52%) of B2B invoices in the US are paid past their due date. Consequently, two-third (66%) of businesses with up 99 employees expressed apprehension or extreme concern over cash flow.

linked2pay claims that its new platform offers a ‘high degree’ of flexibility as to how a business can leverage it.

It will allow businesses to automate credit applications, assess results, and collect payments without changing their existing invoicing software by just integrating with linked2pay’s API.

linked2pay chief risk officer Frank Boccalatte said: “The breakthrough of CustomerConnect is how it packages and automates the risk management tools used by experienced underwriters and makes them readily available to businesses. It not only eliminates time and labour in the process but will result in better decisions when extending terms to their customers.”

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The platform supports existing merchant accounts on card processing gateways including TSYS Multipass/Transit, Heartland Portico, First Data, NAB Velocity, and Authorize.Net.

Gateways such as linked2pay and Paya ACH are also supported by it.