A new data mining solution from Billtrust aims to accelerate invoice payment times by providing businesses with deeper insight into B2B payment habits.
The company announced Tuesday (June 6) that its Business Directory is now available. The directory, developed by the company's eAdoption team, provides corporate clients with a source of data that identifies invoice payment habits of their own customers, information that Billtrust said can help businesses reduce DSO.
The directory provides a collection of data on that invoice payment behavior so companies can see which of their own customers are more likely to send and receive payments electronically.
“With this exciting new directory, we can provide continual insight into end-user behavior that leverages the power of our unique B2B community,” said Billtrust Chief Data Officer Jim Eichman in a statement. “The Billtrust Business Directory helps clients make smarter, data driven decisions with their eInvoicing and ePayments processes. We are now empowering our clients to harness that data in their current eAdoption efforts.”
The directory was first announced in April during its CONNECT conference.
This year, Billtrust announced that it had raised $50 million in venture capital from Riverwood Capital Management. When the funding was revealed last April, Billtrust said it would use the funds to pinpoint growth opportunities and strengthen its international reach.