Estimated reading time: 3 minutes
iController constantly strives to build the best possible collections solution. It’s all about empowering businesses to better follow-up unpaid invoices, helping them set up good procedures and provide a clear overview of cash flow at all times.
In October of 2021, iController got acquired by Billtrust, the American market leader in the automation of accounts receivable administration and integrated payments. The benefits of this partnership are many, both for the companies themselves and their customer-bases.
As part of the Billtrust AR automation platform iController will continue to service its European customer base from its HQ in Ghent. Billtrust knows that it can only achieve its global goals by focusing on serving and delighting customers in every locality.
“Joining the Billtrust family will help us more rapidly scale our business and increase the level of resources we can deploy to better serve our growing customer base. Our shared values and aspirations make this an ideal combination for iController. “
Peter Janssens, iController Founder & CEO
iController’s customers will benefit. The data storage will remain local and iController team members and leaders will continue developing a product to serve and delight them. Billtrust’s size means more resources for the iController development team and more opportunities for feature growth.
One example: there is an opportunity to use some of the data from invoicing or other experiences across the AR spectrum to make collectors even more effective at what they do.
A perfect fit
This isn’t the first time that iController has been approached by another entity. But the Billtrust acquisition ultimately was attractive because iController knew that its product and customer-base would benefit from joining a larger, strategic player.
Billtrust has a great track record as the leading innovator in AR automation and has been pioneering this field for 20 years. Billtrust has grown a customer-base inclusive of over 2,300 businesses. Over 1 trillion dollars in invoices have been processed to date.
An investment in iController’s collection solution
Another acquirer may have only seen iController as a source of profit. They may have done the minimum to maintain the product and the maximum to generate revenue. Billtrust won’t do that. Because Billtrust is in the business of digitizing and automating all of the functions of accounts receivable, Billtrust recognizes that the opportunity is much greater than the current market.
“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers.”
Flint Lane, Billtrust Founder & CEO
The Billtrust business strategy is to invest in accelerating the benefits of its family of solutions – and grow those solutions globally.
Digital transformation in AR
Keep an eye on this space. Digital transformation has been occurring throughout every realm of business for decades, but the last two years have been a turning point. Paper invoices and spreadsheets are finally being recognized as major weak points and online invoicing portals and electronic payments are on the rise.
Billtrust is committed to deploying and continuously optimizing a full suite of AR solutions to guide customers through the ongoing digital revolution in billing and payments. The iController partnership is an integral part of this mission and both companies are optimistic about the future.
In the video below Peter Janssens (founder & CEO of iController) sits together with Steve Pinado (President at Billtrust) to cover the most frequently asked questions that arose from customers following the acquisition.
If you have any further questions about iController or Billtrust solutions please reach out to us via the contact page.