7 Top Alternatives and competitors to Billtrust for AR Automation

Introduction

Billtrust provides reliable accounts receivable solutions, but many businesses discover gaps in scalability, advanced automation, and support for global operations. As AR processes become increasingly complex, companies often need a platform that goes beyond basic automation to deliver AI-driven insights, seamless integrations, and robust functionality. If you’re searching for a solution that aligns with your growth ambitions while driving efficiency and ROI, it’s time to consider the top alternatives to Billtrust. In this guide, we’ll explore leading AR automation platforms to help you find the perfect fit for your business needs.

Why Explore Alternatives to Billtrust?

Billtrust’s focus on simpler workflows and domestic operations often limits its ability to meet the growing demands of modern AR processes. With moderate automation, limited support for global operations, and minimal AI capabilities, Billtrust may struggle to scale alongside high-growth businesses or address the complexities of large enterprises. Its reliance on semi-automated processes and a narrower scope of features can lead to inefficiencies, higher manual workloads, and restricted scalability. Exploring alternatives like HighRadius empowers businesses to embrace AI-driven, end-to-end AR solutions that optimize workflows, reduce DSO, and support global operations with unmatched efficiency and innovation.

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Credit

Onboard customers seamlessly and manage credit limits, predict risks, and handle blocked orders to reduce bad debt.

Collection

Reduce past-due with AI-prioritized worklists and automate collection emails to manage long-tail customers.

Cash Application

Apply cash with 90% more accuracy by automating remittance aggregation and AI-guided exception management.

Deductions

Automate document aggregation from 250+ portals and emails and prioritize invalid claims efficiently to resolve disputes faster.

EIPP

Enable electronic invoicing, customer self-service portals, and secure online payments to improve billing and enhance cash flow.

Top 7 Alternatives to Billtrust

1. Serrala
2. Emagia
3. Esker
4. FIS
5. HighRadius
6. Sidetrade
7. Versapay

Serrala

Top Features:

• On-Premise and Cloud Options: Offers both traditional on-premise solutions and its newer Alevate cloud suite, giving businesses the flexibility to choose based on their IT infrastructure needs.
• SAP-Centric Design: Built primarily as a bolt-on solution for SAP environments, providing basic credit and collections functionality through add-ons like FS2 and Soplex.
• Template-Based Data Capture: Utilizes rule-based OCR technology for AR matching and remittance processing, suitable for simpler AR tasks where templates can be effectively managed.
• Integrated Payments: Provides solutions for automating parts of payment workflows with manual customizations to support specific AR functions like invoice matching.

Markets Served:

• SAP-Driven Businesses: Organizations heavily reliant on SAP systems seeking bolt-on AR functionalities for basic credit and collections processes.
• Businesses Needing Gradual Automation: Companies operating smaller or simpler AR workflows are comfortable with manual interventions or rule/template-based systems.
• Firms Exploring Cloud Transition: Enterprises beginning to migrate from on-premise to cloud solutions and looking for modular AR components.

Emagia

Top Features:

• Gia Digital Assistant: Provides advanced document processing and cognitive automation with Gia Docs, empowering teams to reduce manual tasks and accelerate order-to-cash cycles through smart AI-driven capabilities.
• Advanced Analytics: Delivers predictive insights that enable businesses to proactively manage credit, streamline cash applications, and handle deductions effectively, improving overall AR performance.
• Enterprise-Grade Functionality: Supports multilingual and multi-currency operations, ensuring seamless ERP integrations for enterprises operating in diverse and global markets.

Markets Served:

• Large enterprises handling complex, multi-geography order-to-cash workflows that require advanced tools for operational efficiency and scalability.
• Companies looking for AI-powered automation to resolve disputes faster, optimize collections, and gain actionable insights for AR processes.

Esker

Top Features:

• Global Compliance: Ensures adherence to invoicing regulations across 60+ countries with flexible, customizable dashboards that simplify compliance management and support global AR operations.
• Esker Synergy AI: Offers predictive analytics specifically designed for collections and cash applications, allowing businesses to forecast cash flow and prioritize efforts for maximum impact.
• ML-Enhanced Remittance Processing: Leverages machine learning to extract remittance data with higher accuracy and speed, minimizing delays in cash applications and reducing errors.

Markets Served:

• Enterprises with complex global invoicing needs that require advanced compliance solutions and user-friendly tools to manage regulatory challenges.
• Organizations leverage predictive analytics to enhance their efficiency in collections, deductions, and cash application processes.

FIS

Top Features:

• Native Email Integration: Seamlessly integrates email functionalities to improve credit and collections risk assessments, allowing teams to collaborate efficiently without switching between platforms.
• Configurable Workflows: Provides the flexibility to tailor workflows to specific industry requirements, ensuring companies can address unique operational challenges while maintaining efficiency.
• AI-Driven Automation: Automates repetitive tasks like transaction reviews and prioritizing delinquent accounts, enabling teams to focus on more strategic activities that drive results.

Markets Served:

• Large, global enterprises needing advanced analytics for credit risk, collections, and dispute management to navigate complex financial ecosystems effectively.
• Industries needing strong security and AP portal integration for smooth and reliable AR workflows.

HighRadius

Top Features:

• AI-Powered Analytics: Leverages cutting-edge AI and ML technology to deliver deep, predictive insights across deductions, collections, and cash application workflows, helping businesses improve cash flow predictability and accuracy.
• Extensive Integrations: Boasts over 1,000 prebuilt API and RPA integrations, enabling faster ERP onboarding while minimizing disruptions to existing workflows.
• GenAI Automation: Provides unparalleled accuracy in decision-making through generative AI capabilities, reducing human effort and error in AR processes.

Markets Served:

• Large enterprises with global footprints seeking AI-powered tools to predict and optimize cash flow, automate repetitive tasks, and enhance AR processes.
• Companies looking for seamless ERP integration paired with advanced decision-making support to future-proof their AR operations.

Sidetrade

Top Features:

• AI-Powered Automation: Implements the Aimie virtual assistant for automating collections, credit, and cash application workflows, ensuring efficiency and timely follow-ups across AR operations.
• Real-Time Data Aggregation: Combines data from multiple sources into a centralized repository, enabling actionable insights and data-driven decision-making in real-time.
• Process Automation: Reduces reliance on manual workflows by automating key AR tasks, enhancing team productivity, and lowering operational costs.

Markets Served:

• High-growth companies scaling their operations and looking for AI-powered workflows to manage increasing complexity in collections and cash applications.
• Organizations requiring advanced analytics and automation tools to gain an edge in collections management and improve cash flow efficiency.

Versapay

Top Features:

• Collaborative AR Platform: Connects AR and AP teams via supplier and customer portals, fostering collaboration and transparency in payment processing and invoice management.
• Simplified Invoice Delivery: Streamlines electronic invoice generation and payment tracking, reducing the effort required to manage customer transactions while ensuring accuracy.
• Dedicated Customer Support: Offers concierge-level customer support programs that guide teams through adoption and troubleshooting for an exceptional user experience.

Markets Served:

• Small to medium businesses looking to improve collaboration between AR and AP teams, ensuring streamlined processes and better communication.
• Companies prioritizing ease of use and exceptional customer service to enhance their AR processes and customer relationships.

Why HighRadius is the #1 Billtrust Alternative?

1. Advanced AI-Powered Automation:
HighRadius leverages AI and ML to automate critical processes like cash application, collections, and deductions, delivering unmatched efficiency and decision-making insights. Serrala lacks the same depth of AI-driven automation across the order-to-cash cycle.

2. Comprehensive Cloud-Native Platform:
HighRadius offers a fully cloud-based solution designed for scalability and flexibility. In contrast, Serrala is not entirely cloud-based, which can limit agility and increase operational complexity for businesses looking to modernize.

3. End-to-End Order-to-Cash Coverage:
HighRadius provides a unified platform that covers credit, collections, cash application, invoicing, and deductions seamlessly. Serrala’s focus on payment and treasury solutions leaves gaps in AR process automation.

4. Faster Time to Value:
With prebuilt integrations for 1,000+ ERPs and rapid implementation timelines, HighRadius delivers faster ROI. Serrala’s hybrid approach often requires more customization and longer deployment cycles, impacting overall value realization.

5. Recognized Leader in AR Automation:
HighRadius is consistently acknowledged as a leader in AR automation by industry analysts, known for driving innovation and results. Serrala’s recognition is largely focused on treasury and payment management, not AR automation.

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