Optimising your Accounts Receivable process
Step 1: Communicate new Accounts Receivables payment procedure to your foreign agents
Send a one-time authorisation email to your foreign agents to introduce Billtrader and explain the new payment procedure.
We will capture the agents’ contact details and your agents will then know to expect communications from Billtrader.
Step 2: Send your invoices via Billtrader to your foreign agents
You no longer send invoices directly to your foreign agents.
Instead, you send your invoices via the Billtrader platform which will forward the invoice via email to your agents.
The email will have a PDF attachment of the Billtrader invoice with a payment amount in the agent’s local currency along with your original invoice and Billtrader’s bank details.
We will copy you on every email, so you know exactly what has been sent to your agent.
Step 3: Trade your invoices into cash
Login to Billtrader.com and review your invoices for trading.
Select the invoices to trade and click “Trade Bills”. Choose the settlement date and “Confirm Trade”.
Billtrader will pay the traded funds into your local bank account and mark the invoices as “Settled”.
Step 4: Payment Received
Now that you’ve been paid, Billtrader will politely follow up your agents to obtain payment for each invoice and will mark them as “Paid” when the funds arrive.
You can see all this on the History page in the Billtrader platform.
If we encounter any collection issues, we’ll let you know.
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.
