Automated bill pay firm Entryless spoke earlier this year about a new platform to make B2B payments streamlined, faster and easier on a single platform. This week, the company has officially rolled out that tool.
Entryless Seamless Payments debuted at the QuickBooks Connect event, according to a company announcement on Tuesday (Nov. 3). The platform aims to get suppliers paid faster, facilitating payments to be settled in one day, based on when a payer dictates a payment to be made.
In a statement, Entryless Founder Mike Galarza said the rollout is part of Entryless’ goal of upgrading the B2B payments space the way B2C payments has seen in recent years.
“Consumers today make instant online bill payments from their checking accounts to pay a wide variety of bills,” he stated. “But business payments are often still made using time-consuming, expensive manual processes that take days and have a long float. We set out to bring the convenience and speed of online electronic payments to businesses.”
[bctt tweet=”Business payments are often made using time-consuming, expensive manual processes.”]
The corporation already automates the data entry process for companies by uploading bills into a cloud-based system and integrating with existing accounting platforms like QuickBooks and Xero.
The launch of the Seamless Payments tool, the company said, extends that automation to AR and AP by synchronizing that invoice data into an accounting platform, through which corporate users can pay bills.
News of Entryless’ new B2B payments service first surfaced in June, when the company revealed that the tool was in the works. The product was first made public around the same time Entryless hired Sukanta Ganguly as CTO.
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