Case Study: Independent Biomedical Research Institute automates $8M in virtual card payments with Billtrust Digital Lockbox

Independent Biomedical Research Institute automates $8M in monthly payments with Billtrust

An independent biomedical research institute was manually processing over 500 virtual credit card payments per month, which accounted for more than $5 million in payments and cost them roughly $100,000 monthly in fees and labor. This process was time-consuming and introduced significant PCI compliance risk, so they needed a solution. The institute partnered with Billtrust to address this challenge.

Billtrust implemented its Digital Lockbox solution, which uses automated technology, robotics, and integrations with major card issuers to process electronic payments. As a result, the institute reduced the time spent managing these payments by over 90% and now automates over $8 million from 800+ monthly payments. This automation saves them over $40,000 per month in fees and labor costs.