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.

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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.

Billtrader and Equinox – teaming up to make IP payments easier

The Billtrader/Equinox IPMS integration will maximise the operational efficiency benefits to our mutual clients through the automation of data capture, payments, notifications, and bank reconciliation, creating a seamless and efficient process..

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