Billtrust is a payment cycle management solution, offering invoice delivery, multi-channel payment enablement, and payment posting.
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Stampli
Score 8.9 out of 10
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Stampli is an AP automation solution from the company of the same name in Mountain View. The software provides invoice processing and management, and integrates with Dynamics 365, Intacct, NetSuite, QuickBooks, SAP and other financial systems.
For a simple invoice-based organization, especially with multiple stores, Billtrust is an appropriate fit. While lacking in design and intuitive functionality, Billtrust got the job done as far as receiving payments from customers. However, if you are in a subscription-based business or one that invoices on a frequent repetitive manner, Billtrust may not be the best solution.
Stampli is a great AP automation tool. In processing hundreds of invoices a month, the AI (artificial intelligence) is very helpful in automatically pulling data from the invoice into the system's fields. It directly integrates with our accounting system (currently QuickBooks Online but will also integrate with our new system Sage Intacct). It gives a link in our accounting system that allows us to quickly go to the invoice in Stampli. It allows us to make sure we have approval from various departments before paying our bills and helps us manage communication when there are issues with bills. If you don't have too many bills to track or have to manage approval from different departments in an organization, this solution would not be needed.
Billtrust's customer service always replies within 24 hours, leaving the case open until it is verified to be resolved.
The customer portal our credit managers access is exceptionally well designed, allowing us to see when an invoice was delivered, and even when the end-user opened it. There are built-in reports to answer almost any question.
Stampli does invoice coding and tracking very well. Coding and invoice images are side by side, giving the user plenty of screen space to see image details.
The middle audit trail pane is fantastic for following up on any issues with vendors or communication between approvers and data entry.
Stampli dashboards are great for recording KPI information. It helps keep our employees accountable for data entry as well as helps make sure that payments are being made on time.
We have a longstanding good record of invoice delivery and a high number of customers who are accustomed to the look and feel for logging to make payments
We deal with our customer's AR personnel to help resolve issues with our open invoices. They can help us but seem to be lacking in the overall understanding of the Billtrust software and why things may work the way they do. We have some accounts that are active that we have been unable to add to our corporate account, and as a result, these bills must be paid via check, and we are not currently receiving statements. It would be great if they had more robust customer service or maybe different criteria for creating accounts.
For a less tech-educated workforce, Billtrust did the job and required minimal developer resources on our end. Also, while Billtrust lacked in several arenas relative to Stripe, it was good for us since we were not a subscription-based business. For the price, Billtrust was a good solution for our invoice-to-pay business.
All [of] the features are very easy to use and self-explanatory. Most of the time it remembers all your previous invoices how you coded and do itself. You just need to double-check. Definitely improved the AP process. You won't forget to pay the invoices. It will solve your all AP problems. [It's] easy to transfer all the invoices to your accounting software in one click. You won't [be disappointed in] this Software.
10 day reduction in our DSO resulting in increased cash flow
Savings in printing, ink, folding, stuffing, and postage over in-house production, and additional savings with every customer that changes from paper to electronic delivery methods
Increased payment application by batching payment types by day into one file
Enhanced knowledge base for staff through webinars, Twitterviews, conferences, classes, and contact with customer support allow our staff to utilize our tools fully
Decreased time spent by AP clerk on emails to various departments tracking approvals, issues with invoices, etc. Now it's all in one centralized place and the system automatically sends emails to notify of the need for approval, issues or questions about invoices, etc.
AI has allowed us to scale with just one AP clerk rather than a team to process AP
