An accounts receivable solution
delivering cashflow efficiency
& automated processes
Abu-Ghazaleh Intellectual Property (AGIP) is one of the largest IP firms in the world.
Headquartered in Amman, Jordan it has offices in over 30 countries throughout the Middle east and North Africa and provides IP services in over 50 jurisdictions.
Founded in 1972 by Talal Abu Ghazaleh, the strong ethical and professional standards are carried on to this day by a team of top-calibre professionals.
The Challenge
With over 5,000 foreign associates around the globe, the work involved to send invoices, collect payments and receipt/reconcile payments was a significant challenge for the AGIP accounts team.
These challenges were compounded by the difficulties experienced by foreign associates’ banks making payments to the Middle East.
Prior to partnering with Billtrader it was common for AGIP to wait for months or sometimes years to be paid.
The Solution
AGIP began using Billtrader in early 2020 and approached the transition to using Billtrader in phases.
Phase 1 – commenced with a selection of invoices to test the platform and accounts receivable process. This included testing the experience making payments via Billtrader with a selection of foreign associates who were introduced to Billtrader and given the opportunity to pay AGIP invoices using their local currency into a local account.
Phase 2 – following a successful Phase 1, a planned transition of foreign agents paying via Billtrader was implemented in multiple tranches. To date AGIP have transitioned over 250 IP firms around the world to using Billtrader.
“The two main benefits we’ve experienced using Billtrader are getting paid faster and a significant reduction in manual tasks and data entry for our accounts. Rather than waiting months, or sometimes years, to be paid, we can trade our outgoing invoices today and be paid for them next week”
Mahmoud Lattouf, Executive Director
The Benefits
The cashflow efficiency benefits for AGIP have been significant.
Planning cashflow with the certainty of invoices being paid within a week has been a real game changer.
The removal of manual tasks and data entry has delivered operational efficiency benefits and a happy accounts team who can focus on higher value tasks.
Another important benefit for AGIP is the assurance that Billtrader is engaging with their foreign associates to collect payments in a polite and patent-attorney-like way and delivering a client experience that is aligned to AGIP.
The Future
AGIP are continuing to expand the number of their foreign associates paying invoices via the Billtrader platform.
Phase 3 – of the transition included a custom integration with AGIP systems, maximising the efficiency of the process in preparation for the next tranche of foreign associates onto the platform.
The custom integration enables AGIP invoices to go automatically into the Billtrader platform without the need for human input. The invoices are then automatically forwarded for payment and when invoices are paid, the reconciliation is automated back to the AGIP accounting and IP management systems.
Such technological advances are one of the reasons AGIP has managed to provide such excellent IP services for so long and the seamless integration with the Billtrader platform is testament to their abilities as a FinTech as well.
In 2022 AGIP will celebrate their 50th anniversary being a trusted partner for IP firms around the world. The firm’s high standards continue to earn them accolades, such as winning Managing IP Magazine’s award for Middle East and North Africa Firm of the Year no less than 11 times.
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.
