Friday 18th July, 2014

Billtrust has acquired Open Scan Technologies, an automation solutions and services provider for enterprise receivables and payables.

The two companies were already working together under an agreement agreed last year, the combined companies are set to represent an end-to-end Invoice-to-Cash infrastructure for B2B billers.

Billtrust provides bill presentment and payment products and services that span online, email, mobile, IVR, bank and paper. The SaaS solution enables customers to view bills online in standard PDF format and pay them electronically.

Open Scan's accounts receivables solution suite includes the Dynamic Receivables cash flow processing platform which imports payment information from lockbox, scanned and electronic sources, and then reconciles that data. Finally, it exports validated data to ERP systems, financial institutions and receivables archives.