Cforia Software, a world leading provider of Order to Cash (OTC) and Accounts Receivable (A/R) Integration and Collaboration Automation Software, announced today a formalized partnership with Billtrust, the premier provider of Payment Cycle Management solutions. The two companies share a common goal in helping businesses release working capital tied up in OTC systems and processes across multiple systems of record, business units and industry segments.
Cforia increases a company’s productivity and efficiency with a complete A/R automation suite focused on OTC functionality with Real-Time Database Integration, Credit, Collections and Deductions Workbench, A/R Collaboration Portals and Executive Dashboards and Analytics.
Billtrust works with thousands of businesses to automate and accelerate their invoice-to-cash process. The company is committed to helping drive the highest rates of electronic adoption in the industry, reducing costs, and improving customer satisfaction and key payment metrics such as days sales outstanding (DSO).
“We share a common goal with Billtrust, which includes an unwavering commitment to increase the efficiency of our client’s order to cash systems and processes,” said Chris Caparon, COO and VP of Professional Services at Cforia Software. “The combined capability of Cforia and Billtrust’s business solutions and services delivers our customers new order to cash capability within North America.”
The Cforia / Billtrust business partnership provides clients an integration platform enabling strategic access to working capital data distributed across complex multi-ERP environments, helping them in the acceleration of identification, conversion and application of invoice payments into cash quickly and efficiently. Payments made/received through client payment portals are matched and closed within the Cforia A/R Workbench utilizing Billtrust’s premier cash application automation technology.
“There is a natural synergy between Cforia and Billtrust. Both products work to help clients optimize and automate order to cash methods,” said Billtrust’s VP, Business Development, Pat Amaral. “It is imperative that companies today focus on releasing working capital tied up in inefficient and manual finance and accounting functions..”
Billtrust is the premier provider of Payment Cycle Management solutions, helping businesses accelerate invoice-to-cash. By integrating the three key areas of the payment cycle: invoice presentment, invoice payment, and cash application, Billtrust is committed to delivering a flexible solution to improve buyer satisfaction and DSO. In 2014, the Billtrust invoice-to-cash solution processed over $250 billion in receivables for leading companies including Kraft Foods, Under Armour, Estes Express and CDW. For more information, visit Billtrust at www.billtrust.com.
About Cforia Software www.cforia.com
Cforia (www.cforia.com) is a global enterprise software provider, delivering industry leading working capital and accounts receivable (A/R) automation software. Over 230 enterprises are managing $240 billion in run-rate A/R portfolios with Cforia today. Its fifteen years of success have been driven by superior technology integrated with proprietary real-time data integration tools across complex and disparate ERP systems. Cforia Collections Snapshot(SM), Credit Risk Analytics, Order Management, Clean vs. Dirty Receivables Tracking, multi-languages/currency, global Parent/Child risk roll-up and multi-business unit solutions are available in Hosted on On-Site delivery. The comprehensive Cforia software suite maximizes A/R performance through a full software suite which includes OCR Auto Cash Application, Credit, Collections and Deductions Management Workbench, Electronic Billing and Online Payments and A/R Collaboration Portal. Cforia’s A/R Automation empowers Finance Departments to independently manage their own electronic dunning correspondence, reports and credit and collections business logic, without relying on overburdened IT staff and external resources.