The FinTech solution for IP firms
Designed to solve the cost and efficiency challenges of making payments to and being paid by foreign agents, Billtrader is purpose-built for IP firms and is brought to you by the team that built inovia, the online patent filing platform.
Trusted by 1,000+ IP firms globally
Why IP firms work with Billtrader?
Improving operational efficiency as a driver of a sustainable, profitable practice presents a key opportunity for future-focussed IP firms seeking to create lean and agile businesses.
Significant cost savings
We estimate that the IP industry is paying over US$50m per year in bank fees that are avoidable.
Billtrader has bank accounts around the world. Payments are made from a local bank account thereby avoiding international wire transfer fees.
The platform also automates data capture, payments, notifications, and reconciliation, saving time and staff costs.
Reduce debtor days to one week
It is common for IP firms to wait 3-6 months to get paid by overseas agents.
This creates cashflow headaches and is not sustainable for firms in countries that are net-receivers of work.
Billtrader uses best-of-breed supply chain finance solutions to allow us to cut that payment time down to one week.
Automate manual tasks
Billtrader’s data capture and automation tools are designed specifically for IP firms to eliminate the process of managing and reconciling invoices to and from multiple countries.
Billtrader also integrates with IP firm accounting and docketing systems creating a seamless and efficient process.
Optimising your foreign agent payments and receivables
The cost and complexity related to managing payments and being paid by foreign agents has long been a challenge for IP firms. It is clear there are aspects of an IP firm’s accounts payable or accounts receivable process that could be more efficient and there is a significant potential cost savings opportunity.
To help IP firms to quantify potential savings and efficiency gains, Billtrader has developed a comprehensive assessment tool that enables IP firms to assess the efficiency of their foreign agent accounts payable and receivable processes across five pillars of operational efficiency.
IP firm efficiency and resilience in a post-COVID future
In the post-COVID business environment, the resilience of IP firms will be dependent on a firm’s ability to be lean, agile, and flexible, while still providing a high-quality service.
The Billtrader difference
Built By IP Attorneys
Payments To 50+ Countries
Easy To Get Started
No More Bank Fees
Reduce Staff Costs
Get Paid Instantly
Automate Manual Tasks
Mitigate Currency Risks
More than 30,000 bills processed for global IP firms
Over $50m worth of bills paid to or received from global IP firms
Transacting with more than 1000 global IP firms
Get in touch to schedule an obligation-free Operational Efficiency Assessment and platform demo
To learn more about how Billtrader can help you transform your foreign agent payments and receivables, contact our global sales team.