PaperTrl partners with US Bank

Construction companies can now reportedly simplify their accounts payable (AP) processes with the help of PaperTrl's innovative AP management and automation platform, which has integrated US Bank virtual card payment capabilities. This includes vendor management, purchasing, receiving, invoice processing, and payments via US Bank virtual commercial cards.

This collaboration is aimed at improving B2B payments by allowing AP departments to manage all payments from a single platform, which reportedly eliminates manual processing and helps reduce fraud. With US Bank's virtual card solution, PaperTrl can deliver its customers a better payment experience, while also giving CFOs stronger visibility and control over spend, the company states.

What do PaperTrl and US Bank think of the partnership?

According to the CEO of PaperTrl, by joining forces with US Bank, the former can better support its customers in the mid-market by directly embedding a virtual card into the AP process to add efficiencies for AP teams and stronger visibility and control over spend for CFOs. Meanwhile, the Head of Digital Payments Innovation and Partners at US Bank noted that the bank has deep experience embedding its payment capabilities to help fintechs deliver new capabilities and efficiencies to businesses.

This partnership is set to benefit CFOs, accounting, and AP staff, as well as vendors. CFOs reportedly can easily monitor and manage cash flow, identify and reduce fraud, and earn cash back on bills paid through virtual credit cards, while accounting and AP staff can benefit from simplified end-to-end AP processes, with a single workflow destination. Vendors, on the other hand, benefit from a centralised platform and an intuitive online portal to receive orders, submit invoices, and view payment status, the press release continues.

PaperTrl is a fully integrated, cloud-based AP automation software solution that helps organisations simplify the AP process from purchasing to payments. Through a user-friendly, cloud-based application, PaperTrl empowers purchasing and AP professionals to issue purchase orders, track PO receipts, process bills, and make payments more efficiently and effectively from anywhere. PaperTrl automates time-consuming tasks like approvals, PO/bill matching, reconciliation, and integration into the accounting system, enabling customers to focus on the bigger picture, according to the company.

In summary, PaperTrl's integration with US Bank's virtual card payment capabilities is aimed at improving B2B payments for construction companies, offering them an end-to-end AP management and automation platform that allows for more efficient and effective processing of invoices and payments, the official press release concludes.