Business-to-business (B2B) invoicing network launched by Austin, Texas-based platform operator Invoiced as part of expansion of its accounts receivables (AR) and accounts payables (AP) solutions.
No matter how well you set it up, the manual nature of the traditional AP process necessitates a number of time-consuming tasks, according to Jared King, CEO of Invoiced. By creating an easy-to-use, all-inclusive program that handles invoicing and payment issues, we are giving companies the tools they need to send invoices, make payments, and accept them in seconds.
The Invoiced AP system automates all payment, report, and approval steps while allowing users to enhance payment security, compliance, and controls. The vendor verification process also helps to reduce fraud and vendor impersonation.
Using the new B2B invoicing network, buyers will be able to examine their previous payments and overdue invoices and make payments through credit card, wire transfer, or ACH. Additionally, it offers a buyer portal that shows data on payments and invoices. Customers also receive automated payment reminders that inform them of upcoming due dates and present straightforward payment options.
This launch comes at a time when CFOs are looking for ways to make accounts receivable (AR) processes more transparent in order to raise the lifetime value of their clients.
