BLEND Voice partners with Monto to collect payments X2 faster from their largest enterprise companies
BLEND is a global localization platform that aims to remove cross-border barriers for global businesses
KPIs:
Challenge
BLEND voice helps companies localize their business based on a unique understanding of local context, culture, subtlety, and consumer behavior. As a growing tech company, they are expanding their work, scaling globally, and having multiple projects with the largest enterprise customers. This commits their finance team to bill more invoices to multiple customers and adjust their billing and collections processes according to each customer. For every customer, the finance team needs to deliver invoices across different Accounts Payable software (AP Portals) and monitor incoming payments. Working with so many different customers’ AP Portals, doubled their workload and increased the likelihood of errors. Learning how to manage these systems and use them in your day-to-day work is time-consuming.
BLEND voice needed a system that would adapt itself to the different AP portals and will submit invoices automatically as fast as possible while minimizing errors. As BLEND voice is growing, its billing and collection process becomes more complex, and they shouldn’t spend so much time adjusting its revenue processes to its customers and billing according to each customer's requirements.
Solution
BLEND voice decided to partner with Monto to cut their manual work and time-consuming processes, freeing up the finance team's time to focus on scaling and improving collections processes. Using Monto’s advanced technology, BLEND voice is automatically billing AP portals and getting full visibility by seeing updates on the billed invoices. In Monto’s platform, BLEND voice can see clearly all the issues that need to be resolved, getting actionable insights on stuck invoices, without spending time on invoices’ investigating.
Results
BLEND voice’s status after using Monto for only 3 months:
Monto allows BLEND voice to view all the invoices that were scattered across AP portals in one place. Without logging in to multiple platforms, Blend voice sees the most important information including purchase orders, invoices, and payments.
The automatic invoice-to-AP portal process, together with the growing visibility, enabled Blend to save an average of 5 hours a week. Now, BLEND’s finance team has much more time for the most important tasks a computer can’t replace.
The higher invoice acceptance rates BLEND experienced with Monto were made possible by Monto’s smart engine that learns each customer's requirements and adjusts invoice submission accordingly. Monto optimizes accurate invoicing and makes smarter actions instantly, which helps BLEND to bill invoices with 70% fewer rejections on AP portals with no extra effort. With powerful invoicing intelligence, BLEND could improve its customer experience by reducing unnecessary invoice rejections
With Monto, Blend voice’s collections days are reduced by 47%! Usually, companies at scale like Blend voice suffers from complex billing process that involves different stakeholders and is prone to human errors. By minimizing disputes and invoice rejections, Monto enables Blend to get paid X2 faster.
Monto’s automatic invoice-to-AP portal process has proved itself more efficient, enabling Blend voice’s customers to receive their invoices faster, approve them earlier, and of course, make the payment even before the due date! (/ASAP).