Accounts receivable (AR) platform Billtrust announced on February 15, 2022, that it acquired Amsterdam-based Order2Cash. With this acquisition, New Jersey-based Billtrust hopes to expand its European and global presence as well as strengthen its business payments network (BPN) system. Order2Cash has offices in Joure, Netherlands, Krakow, and New York City.
Order2Cash helps companies manage their order-to-cash cycle. Since both Billtrust and Order2Cash manage B2B payments for their customers, this acquisition will grant those customers a broader platform of SaaS modules while delivering compliant and secure e-invoicing across multiple markets. Billtrust is an open market for both buyers and sellers, therefore, allowing both AR and accounts payable (AP) automation platforms to exchange payments, invoices, and other data.
The order-to-cash process is a company’s complete order processing system, from ordering to delivery. In fact, the order-to-cash cycle does not end at the delivery of the product or service. The seller must manage reporting, data management, and other business intelligence processes to track performance across all cycle stages.
There are several steps in the order-to-cash cycle, which might differ from company to company, but the main steps are as follows:
Source: Order2Cash
It’s no surprise that AR automation companies are trying to enlarge their footprint and cater to customers worldwide. G2’s Accounts Receivable Automation Software category has grown 13% over the past 12 months, adding 13 new products to the category, while buyer interest has increased as well—generating 373 new reviews in the past year, up over 68%.
The acquisition of Order2Cash comes only months after Billtrust purchased credit and collections platform iController for $58 million in October 2021. iController enables a wide range of users, from credit and collections managers to chief financial officers (CFOs), to see real-time information and communication, providing visibility into cash flow management. Like the Order2Cash acquisition, Billtrust purchased iController to expand its European presence while reinforcing its global collections capabilities.
Edited by Shanti S Nair
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