This announcement is posted at Global Newswire and advises of new capabilities available through Aliaswire, the Massachusetts-based fintech that provides payments processing services to banks and businesses. The new additions are within the company’s DirectBiller solution, a bill payment platform offered through banks for businesses of all sizes. The release suggests strong transaction growth in certain segments during the past year.
Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced the general availability of new invoicing and payment capabilities for manufacturers and distributors in its DirectBiller® platform. The advanced features address the unique requirements of business-to-business (B2B) customer relationships and transactions in manufacturing and distribution…
The announcement comes as Aliaswire builds on strong momentum in the segment. The company saw a 228% increase in dollar volume processed by manufacturers and distributors on its DirectBiller platform over the last 12 months.’
Bill payment is an entirely different animal in the B2B space versus servicing consumer experiences, given the much more complex processing scenarios and custom needs of certain industry segments. In the post-pandemic environment, many companies, especially those with more likely issues around cash flow (i.e. SMEs) and seeking more digital financial operations. Bill payment is certainly an area for upgrade in moving away from analog processes into digital automation, with all the attendant data available for analysis and ongoing improvements. The release goes through a few of these complexities. The piece also provides some of the features and functions available in the platform, for those readers interested, but does not specify which are existing versus the announced new capabilities, but seems directed towards the manufacturing and distribution segment.
“Having your customer pay an invoice is one thing but reconciling that payment in a timely manner to reflect an accurate balance that takes into account things like credit memos, returns, and disputes, is entirely another,” said Jed Rice, CEO at Aliaswire. “DirectBiller helps manufacturers and distributors automate what is now a very messy and time-consuming process. As a result, they get paid faster, improve client satisfaction and reduce their cost of getting paid.”
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group