April 28, 2021 at 02:17AM

Apruve, the U.S.-based company working in long-tail credit and accounts receivable automation, has expanded its solution for the China market, a press release said Tuesday (April 27).

Apruve’s services help cut down on the time and resources necessary for the management of higher-volume small accounts.

Customers in China will now be able to reap those benefits with the simplified digital transaction experiences. With the platform enhancements, Apruve’s credit and accounts receivable (AR) capabilities will see a boost and offer transactions in currencies from China and the U.S. There will also be multilingual invoices and buyer portals, more control over exchange rates and timing and localized invoicing.

“This past year we’ve seen a significant increase in enterprise customers needing an automated digital payment solution for international markets,” stated Michael Noble, CEO of Apruve. “They’re trying to balance the challenges of intensified business risk and complexity, the transition to managing highly distributed AR operations and achieving their goals for international growth. By expanding our customizable solutions into China, we’re enabling process efficiencies that help remove some of the primary barriers to doing business in that market.”

Noble added that Apruve “gives companies with international direct sales channels and high-volume, repetitive payments a way to streamline those long-tail transactions, allowing them to recapture their time to focus on high-value customers.”

“Our flexible currency control, DSO [days sales outstanding] reduction to one day through invoice financing and multinational capabilities ensure customers quickly see ROI [return on investments] on Apruve solutions.”

Dan Puleri, vice president of merchant services B2B supplier strategy and enablement at American Express, told PYMNTS recently that the B2B invoicing and payments sphere was ready for innovation, with 72 percent of firms still getting invoices through the mail and 81 percent still making payments with paper checks.

With automation, Puleri said it became possible for companies to couple card acceptance with prudent management of outstanding balances, with suppliers able to shift debt risk to other institutions, for example.

Apruve Expands AR Automation Services To China …

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