Based at American Metro Center, Billtrust, provider of outsourced billing services, has launched a cloud-based business invoice network that provides online invoice delivery and payment services for both vendors and small businesses.
The network, Invoice Central, provides vendors with a hub-based approach to deliver invoices and accept payments electronically. Invoice Central is an open network of business-to-business vendors and invoice recipients. More than 70 vendors have already signed up to deliver invoices and accept payments on the network.
“Small businesses can sign up for free, log in and begin receiving and paying invoices from multiple vendors from one convenient website,” says a press release from Billtrust. “Invoice Central empowers small business owners with a one-stop location for invoice and payment management, helping them avoid late fees, maximize early-pay discounts and save time by scheduling future payments.”
According to Billtrust, although many vendors have the ability to invoice and receive payments online, the majority of their small business customers have resisted switching from paper because they don’t want to have to deal with logging in to multiple vendor payment sites.
“Invoice Central solves this problem by enabling small businesses to access invoices from multiple vendors with a single account to a central site,” says the Billtrust release.
Billtrust CEO Flint Lane says that his company’s experience puts it in a unique position to launch a network like Invoice Central.
“Perhaps no one in the industry has the breadth of experience in electronic billing that Billtrust has,” Lane says. “We have the infrastructure in place to support the security, marketing, and payment network that is absolutely necessary for widespread adoption.”
The company says the service, which is free to business bill payers, offers increased productivity over paper billing, or online sites that only handle one vendor. Billtrust’s revenue from Invoice Central is generated by a combination of transaction fees for the presentment of the invoice, plus a percentage of the amount paid by the Invoice Central user.
The launch of Invoice Central is the latest in a flurry of activity for the company. It moved to a new office in American Metro last year and opened a new operations center on South Gold Drive in Hamilton (U.S. 1, February 1). Last month it acquired Mark Altman & Associates of Hudson, Mass., to supplement its municipal billing services.
Billtrust, 100 American Metro Boulevard, Suite 150, Hamilton 08619; 609-235-1010; fax, 609-235-1011. Flint Lane, president & CEO. www.billtrust.com.