Find out how TechTarget, the global leader in connecting buyers with technology vendors, worked with Monto to simplify payments and boost TDSO by nearly 30%.
"Having all the data and portal information readily available in a single dashboard has enabled the management team to closely monitor our AR health and proactively identify potential issues."
Problem-solving content for tech buyers.
Since 1999, TechTarget has been providing value to enterprise tech buyers and vendors with its solution-based content. Driven by the idea that IT professionals need high-quality, in-depth, fiercely independent content to help make critical purchase decisions, TechTarget has become a global leader in purchase intent-driven marketing and sales services.
Today, it spans more than 10,000 specific topics, helps more than 3,000 tech companies achieve sustainable pipeline impact, and delivers content to more than 30 million registered technology buyers.
Challenge
Invoices missing their mark.
Faced with an average of over 160 invoices to submit across 10 portals, the TechTarget team was having a hard time running an efficient billing process.
The burden fell on the AR team to manage unique workflows for each portal, with invoices needing to be formatted to individual requirements – a time-consuming, error-prone amount of manual work that led to invoice rejections and delayed payments. The team also had a backlog of past due invoices and were searching for a tool to help them reduce their accounts receivable.
With millions of dollars waiting to be collected from portals every month, the stakes were high, and only made higher by the increasing amount of customers preferring to use payment portals. It was time for TechTarget to future-proof its payment processes with a more efficient way of navigating customer portals.
Solution
Payments made on-time, every time
TechTarget teamed up with Monto to reduce the manual work and time spent managing their payment portals. Since onboarding Monto, the team is automatically submitting invoices and collecting payments across all its portals, allowing them to track all their outstanding invoices from one platform.
Monto is now TechTarget’s source of truth for every portal customer; the team is using the data in Monto to manage collections and update their ERP with data on portal customers.
Without having to waste time manually creating and submitting invoices, the team is also experiencing less data entry errors and preventing invoice rejections. And with real-time updates on each invoice, Monto has become the go-to hub for TechTarget to resolve any issues that *do* arise.
THE RESULTS
Targets surpassed.
With Monto automating the getting paid process, TechTarget’s revenue team has made huge gains in the metrics that matter most.
💰 REDUCED COLLECTION TIME BY 60.2%
No more invoice uncertainty: the TechTarget teams now benefits from on-time payments, every time.
⚡ 85% OF PAYMENTS COLLECTED FULLY AUTOMATICALLY
Monto integrates with TechTarget’s ERP to submit invoices without the billing team lifting a finger.
🔌 28.5% BOOST IN TDSO
Monto ensures TechTarget collects every dollar faster, increasing confidence in their cash flow and reducing the risk of customers that don’t pay.
⏱️ 47.8% TIME SAVED ON SUBMITTING INVOICES
Now that the billing team can drop all invoice-related manual work, they have more time to focus on higher-leverage tasks.
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 and supplier AR teams can’t benefit from platforms like Monto that turn this new payments paradigm into a win-win for everyone.
