Billtrust, JAGGAER Team on Automated B2B Invoices

JAGGAER, an autonomous commerce company, announced Wednesday (June 1) that it is entering a strategic relationship with B2B accounts receivable (AR) automation firm Billtrust to help suppliers access automated invoicing.

The idea is to help businesses cut down on manual work and lower administration costs, as Billtrust allows suppliers to click a button in their financial system to send an invoice to a buyer without any manual work.

When a supplier gets a purchase order, they can create an invoice that is then sent to a specific email address for that supplier. The Billtrust system autonomously processes and sends the invoice to the buyer through the JAGGAER ONE platform.

JAGGAER CEO Jim Bureau said the vision was “a truly frictionless and fully digitized experience for buyers and suppliers, and this relationship with Billtrust directly advances that goal.”

“By making invoicing activities effortless for suppliers, we’re enabling procurement teams to get their invoices sooner and speeding processing times,” he continued. “Suppliers’ increase in cash flow strengthens their financial resilience, reducing risk for buyers. This relationship also achieves efficient interoperability between both buyers and suppliers, allowing suppliers to scale their operations while creating a better experience at the same time. It’s a win-win for both parties.”

Early last year, JAGGAER collaborated with TransferMate to give new “source to settle” offerings to help customers get tracking, reconciliation and processing upgrades.

Read more: JAGGAER Joins Forces With TransferMate On ‘Source To Settle’

JAGGAER clients using TransferMate for cross-border transactions receive a real-time exchange rate before transmitting funds to a TransferMate account in their own area. TransferMate then delivers the money to the target nation, with the buyer able to steer clear of payment charges while vendors get the payment quicker and safer.

At the time, Terry Clune, executive chairman of TransferMate, said the idea was to “deliver significant savings via highly competitive foreign exchange rates and ease the burden of processing transactions on finance teams.”