Learn how Invoca, the leading real-time revenue execution platform, used Monto to reduce their time to payments collection by 42%, all while barely lifting a finger.
“Monto’s easy to use platform makes it a valuable tool for any AR Department.”
ABOUT OUR CUSTOMER
Making conversations count
Consumers share invaluable information in the conversations they have with brands, but capturing and acting on those insights is another matter. Invoca set out to solve this problem. The company is the leader in conversation intelligence AI that helps marketing, e-commerce, and contact center teams drive revenue growth by unlocking insights from customer interactions. Invoca’s technology can attribute phone calls to specific marketing efforts, providing crucial insights into which campaigns are driving calls, customer intent, and conversion outcomes.
THEIR CHALLENGE
Invoices on hold
When we met the Invoca team, they were struggling to collect on-time payments from over 70 customers across over 20 different AP portals. The burden of manually registering for each portal, as well as managing unique workflows and continuously updating their profiles, was weighing down Invoca’s revenue team.
On top of that, the team was submitting invoices to collect millions of dollars per month from portal customers, but had little to no visibility on the status of each invoice once sent.
These invoices all had to be formatted to the exact requirements of each payment portal – a time-consuming, error-prone process that led to an increased rate of invoice rejections. And for those invoices that were rejected, lengthy investigations and back-and-forths with the customer delayed payments even more.
As the amount of customers preferring to use payment portals grew, figuring out a better way to navigate these portals, free up the billing team’s time and reduce payment delays was a top priority.
USING MONTO
Making payments fast and effortless
Invoca teamed up with Monto to reduce the manual work and time spent managing their customer payment portals. Since implementing Monto, the team is automatically submitting invoices and collecting payments across over 20 portals, allowing them to track all their outstanding invoices from one platform.
Without having to waste time manually creating and submitting invoices, the team is also experiencing less data entry errors and has more confidence they’ll collect payments on time. But even when invoice rejections do happen, Monto saves the Invoca AR team time in investigating rejections and endless communication with the customers, and gets those invoices paid 42% earlier.
“Monto greatly helps Invoca achieve its goal: we create the invoice in our ERP, don't do anything else, and the payment just appears in our bank account”
THE RESULTS
Let the numbers do the talking
With Monto, collecting payments has become seamless. Just like the buyer journeys that Invoca helps optimize.
💰 REDUCED COLLECTION TIME BY 42%
Invoca’s billing team has put all invoice-related manual work behind them, giving them more time to focus on higher-leverage tasks.
⚡ 85% OF PAYMENTS ZERO-TOUCH
Monto integrates with Invoca’s ERP to submit invoices without the billing team lifting a finger
🚫 35% FASTER RESOLUTION & PAYMENT OF REJECTED INVOICES
Monto saves time for the AR team in investigating rejections and back-and-forth communication with the customers, and gets those invoices paid 35% earlier.
The rise of B2B AP portals was a no-brainer given the benefits they provide for B2B AP teams. But there’s no reason vendor AR teams can’t benefit from platforms like Monto that turn this new payments paradigm into a win-win for everyone.
