Meet the future of business payments.
More than a quarter-century into the Internet age, B2B payments seem more than ever like a relic. Worldwide, as many as 90% of B2B transactions are analog and take place on paper. Even documentation that is nominally digitized, like PDF files, are the practical equivalent of paper.
And don’t even think about AR, AP, and reconciliation—all of which remain largely manual processes.
Introducing the Crowdz InvoiceXchange
The InvoiceXchange from Crowdz, created in partnership with Barclays Bank, changes all of this. The InvoiceXchange in an integrated, all-digital platform that ingests, digitizes, records, and transmits invoices at the click of a button. Payments can be made just as easily, in virtually any common format—ACH, SWIFT, eCheck, credit or debit card, or virtual card.
We call it the “Send—Pay—Sell” solution. Because it’s the only invoice solution that combines all three functions into a single, easy-to-use end-to-end platform.
And that’s not all. When the production version of the InvoiceXchange is released on November 30 and continuing later in 2020, here’s some of what you’ll be able to do.
- If you use the InvoiceXchange’s virtual accounts, you can cut your cost of payments by 90% or more.
- All orders, invoices, credit notes, and payments are instantly reconciled, cutting your AR and AP management time by half or more.
- And invoices, once in the system, can easily and quickly be sold for upfront cash, accelerating your cashflow while eliminating invoice-collection headaches.
The Beta Launch
In the meantime, in order to get a glimpse of what the Crowdz InvoiceXchange can do for your business, give a peek at the Beta 0.3 launch, which took place last Saturday. The Beta version is a work-in-progress, and so not all features are operational yet, but you can see how you can:
- Easily register as a buyer or seller.
- Digitally upload and submit invoices.
- Approve and pay invoices.
- Post invoices for auction.
- Move money among virtual accounts.
Let us know what you think and if you have any suggestions for improvement or additions. And be sure to sign in here to receive one of a limited number of early sign-up invitations to our invite-only beta.
We look forward to working with you!