{"id":511660,"date":"2021-07-12T08:03:09","date_gmt":"2021-07-12T12:03:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/"},"modified":"2021-07-12T08:03:09","modified_gmt":"2021-07-12T12:03:09","slug":"new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/","title":{"rendered":"New Study Shows Accounts Receivable Modernization is More Perception Than Reality"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>New Study Shows Accounts Receivable Modernization is More Perception Than Reality<\/b><\/p>\n<p class=\"bwalignc\"><i>Billtrust-Commissioned Research Examines Current State of AR with Integrated B2B Payments, Identifies Gaps Suggesting AR Teams\u2019 Processes are Not as Modernized as They Perceive<\/i><\/p>\n<p>LAWRENCEVILLE, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=Billtrust&amp;index=1&amp;md5=e7bdb9fd4034c9b7a3bfaf7720a4ca4f\">Billtrust<\/a> (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, released the results of an in-depth qualitative and quantitative research study to better understand the current state of the U.S. accounts receivable (AR) industry. The research covers current AR trends, challenges, priorities, systems, tools and modernization efforts and is summarized in a new white paper, \u201cThe State of Accounts Receivable: The Journey to Modernize,\u201d available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fresources%2Flibrary%2Fthe-state-of-accounts-receivable-and-b2b-payments-the-journey-to-modernize%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=Billtrust.com&amp;index=2&amp;md5=d85ba7b276cf544f0b38a815c569258e\">Billtrust.com<\/a>.\n<\/p>\n<p>\nAmong the many insights, the research showed a significant perception gap among AR practitioners regarding to what extent their processes are modernized. When asked about the tools used to perform their work, most AR teams believe they are up-to-date and efficient, using words such as reliable, innovative and efficient to describe their existing AR systems and processes. Further, 86% rate their department as very or somewhat modernized. There are, however, numerous contrary indicators suggesting AR departments are not as modernized as they perceive:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nOver 40% of AR departments do not offer self-service capabilities.\n<\/li>\n<li>\nOver 50% do not have real-time integrations with their ERP systems, nor do they have automated integration with their customers\u2019 accounts payable (AP) procure-to-pay platforms.\n<\/li>\n<li>\nOver 60% do not have a majority of their payments or invoices as digital, with nearly 30% of payments still being cash and paper check.\n<\/li>\n<li>\nOnly 25% of executives see their AR departments as a strategic partner in the business, and only 18% see them as an innovative finance function.\n<\/li>\n<li>\n60% see their current AR systems and processes as frustrating, driven by lack of integrations between processes, too many manual tasks, insufficient self-service capabilities for customers, inefficient processes\/workflows, poor user experiences for AR teams, outdated and slow technology, human error and high operating costs.\n<\/li>\n<li>\nAR teams report having to interact with an average of 11-20 AP procure-to-pay platforms and be proficient with 11-15 different brands, slowing AR processes.\n<\/li>\n<\/ul>\n<p>\n\u201cClearly, accounts receivable professionals\u2019 perception of modern processes is not aligned with what is considered state-of-the-art,\u201d said Steve Pinado, Billtrust President. \u201cThe study does indicate a small percentage of strategic, innovative and highly modernized AR teams, and our hope is this research draws attention to what can be done to maximize efficiency and leverage the most advanced cash flow acceleration and integrated payments capabilities available. Because benchmarking and self-assessment is so critical to organizational improvement, these findings are important for finance leaders in helping them evaluate their processes and make the connection between strong accounts receivable capabilities, productivity and world-class customer experiences.\u201d\n<\/p>\n<p>\nThe study also includes in-depth insights on:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nHow AR teams allocate their time.\n<\/li>\n<li>\nMost often-used AR systems and tools.\n<\/li>\n<li>\nAR teams\u2019 biggest pain points and frustrations.\n<\/li>\n<li>\nHow AR teams meet the challenges of increasing AP procure-to-pay platform usage.\n<\/li>\n<li>\nThe pandemic\u2019s impact on AR.\n<\/li>\n<li>\nThe current state of B2B payments.\n<\/li>\n<li>\nHow customers and the C-level perceive AR teams.\n<\/li>\n<li>\nTechnology initiatives AR teams are most likely to investigate or trial in the next 12-36 months.\n<\/li>\n<\/ul>\n<p><b>About the Study<\/b><\/p>\n<p>\nIn the spring of 2021, Billtrust commissioned research firm Paradoxes, Inc. to conduct an extensive qualitative and quantitative research study to better understand the current state of the accounts receivable (AR) industry in the United States. Dozens of 60-minute in-depth interviews were conducted and an online survey of more than 350 companies was fielded with organizations of greater than 125 employees and between $50 million to $10 billion in revenue.\n<\/p>\n<p><b>About Billtrust<\/b><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=Billtrust&amp;index=3&amp;md5=5a1715ebfca024adc6f02df10445e98c\">Billtrust<\/a> (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Fcredit%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=credit+decisioning+and+monitoring&amp;index=4&amp;md5=de7fd446ed4179565faeacacbdfa1f1c\">credit decisioning and monitoring<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Fecommerce%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=online+ordering&amp;index=5&amp;md5=5524dda5f3311be20c6d46754e0a23ab\">online ordering<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Finvoicing%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=invoice+delivery&amp;index=6&amp;md5=c8c97731a5d03832e49c4a1138256eb3\">invoice delivery<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Fpayments%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=payments+and+remittance+capture&amp;index=7&amp;md5=0ab7a8616adf069f5696e8e6c460f1fe\">payments and remittance capture<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Finvoicing%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=invoicing&amp;index=8&amp;md5=ebefd7a5f63294f7c1985acecce4f34d\">invoicing<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Fcash-application%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=cash+application&amp;index=9&amp;md5=0e934d2fbf1a03f2d36f95df5438772e\">cash application<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2Fproducts%2Fcollections%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=collections&amp;index=10&amp;md5=4aaf6d6f38202cefa2f2e148f426120f\">collections<\/a>. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.billtrust.com%2F&amp;esheet=52456592&amp;newsitemid=20210712005007&amp;lan=en-US&amp;anchor=Billtrust.com&amp;index=11&amp;md5=9b1dc71a20dd14e7e050854759b65860\">Billtrust.com<\/a>.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company\u2019s filings with the SEC, including those under the header \u201cRisk Factors\u201d in the Registration Statement on Form S-4 filed with the SEC by South Mountain Merger Corp. on October 26, 2020, as amended. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company\u2019s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company\u2019s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210712005007r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210712005007\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210712005007\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact<br \/>\n<\/b><br \/>Meredith Simpson<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:MSimpson@Billtrust.com\">MSimpson@Billtrust.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New Jersey<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Finance Banking Other Technology Accounting Professional Services Software Data Management Other Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210712005007\/en\/889988\/3\/BTLogo_%283%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>New Study Shows Accounts Receivable Modernization is More Perception Than Reality Billtrust-Commissioned Research Examines Current State of AR with Integrated B2B Payments, Identifies Gaps Suggesting AR Teams\u2019 Processes are Not as Modernized as They Perceive LAWRENCEVILLE, N.J.&#8211;(BUSINESS WIRE)&#8211;Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, released the results of an in-depth qualitative and quantitative research study to better understand the current state of the U.S. accounts receivable (AR) industry. The research covers current AR trends, challenges, priorities, systems, tools and modernization efforts and is summarized in a new white paper, \u201cThe State of Accounts Receivable: The Journey to Modernize,\u201d available at Billtrust.com. Among the many insights, the research showed a significant perception gap among AR practitioners &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Study Shows Accounts Receivable Modernization is More Perception Than Reality&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-511660","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Study Shows Accounts Receivable Modernization is More Perception Than Reality - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Study Shows Accounts Receivable Modernization is More Perception Than Reality - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New Study Shows Accounts Receivable Modernization is More Perception Than Reality Billtrust-Commissioned Research Examines Current State of AR with Integrated B2B Payments, Identifies Gaps Suggesting AR Teams\u2019 Processes are Not as Modernized as They Perceive LAWRENCEVILLE, N.J.&#8211;(BUSINESS WIRE)&#8211;Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, released the results of an in-depth qualitative and quantitative research study to better understand the current state of the U.S. accounts receivable (AR) industry. The research covers current AR trends, challenges, priorities, systems, tools and modernization efforts and is summarized in a new white paper, \u201cThe State of Accounts Receivable: The Journey to Modernize,\u201d available at Billtrust.com. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/","og_locale":"en_US","og_type":"article","og_title":"New Study Shows Accounts Receivable Modernization is More Perception Than Reality - Market Newsdesk","og_description":"New Study Shows Accounts Receivable Modernization is More Perception Than Reality Billtrust-Commissioned Research Examines Current State of AR with Integrated B2B Payments, Identifies Gaps Suggesting AR Teams\u2019 Processes are Not as Modernized as They Perceive LAWRENCEVILLE, N.J.&#8211;(BUSINESS WIRE)&#8211;Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, released the results of an in-depth qualitative and quantitative research study to better understand the current state of the U.S. accounts receivable (AR) industry. The research covers current AR trends, challenges, priorities, systems, tools and modernization efforts and is summarized in a new white paper, \u201cThe State of Accounts Receivable: The Journey to Modernize,\u201d available at Billtrust.com. Among the many insights, the research showed a significant perception gap among AR practitioners &hellip; Continue reading \"New Study Shows Accounts Receivable Modernization is More Perception Than Reality\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-12T12:03:09+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210712005007r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"New Study Shows Accounts Receivable Modernization is More Perception Than Reality","datePublished":"2021-07-12T12:03:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/"},"wordCount":1028,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210712005007r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-accounts-receivable-modernization-is-more-perception-than-reality\/","name":"New Study Shows Accounts Receivable Modernization is More Perception Than Reality - 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