American Express is teaming up with accounts-receivable software company Invoiced to help the credit-card company’s customers with an exclusive offer for 40 percent off an Invoiced subscription for the first two years.
“Many B2B businesses continue to manage their billing, payments and collections processes using inefficient, manual, paper and spreadsheet-based processes,” American Express said in announcing the deal. “By teaming up with Invoiced on a special offer for American Express-accepting merchants, American Express is helping merchants discover a solution that could help them transition their AR from legacy manual processes to modern, streamlined, digitally-enabled experience improvements.”
Invoiced is a cloud-based accounts-receivable automation solution that aims to help small- and medium-sized businesses get paid fast, automate collections and streamline payments. American Express’ special offer comes at a time when PYMNTS research found that 72.4 percent of businesses still receive paper invoices by mail and 80.8 percent make payments by paper check.
The credit-card giant said the Invoiced system “can help merchants realize operational efficiencies, cash flow benefits and customer experience improvements. Merchants can 1) get paid fast with credit card payments, ACH, automatic reminders, Autopay and more 2) automate collections via email, mail, text and phone and 3) streamline payments with a modern, self-serve billing and payment portal for customers.”
The service is especially valuable during the pandemic, as the threat of infection has forced people to move to working from home. “American Express is committed to supporting small and mid-sized enterprises (SMEs) through initiatives such as the annual Small Business Saturday and the recently announced Stand For Small platforms to provide meaningful support to small businesses as they navigate the impacts of COVID-19,” the company said.