Case Study: IDEXX Laboratories achieves 86% electronic invoicing and 41% more invoices paid with Billtrust

Medical equipment manufacturer drives digital payment adoption

IDEXX Laboratories, a multinational medical equipment manufacturer, faced slow customer adoption of digital invoicing and growing AR complexity as buyers moved to new AP methods like virtual credit cards. A long-time customer of Billtrust, IDEXX had already implemented Billtrust Invoicing but needed additional tools to streamline billing, increase electronic payment acceptance, and reduce manual processing.

Billtrust deployed a combination of Billtrust Invoicing, the Business Payments Network (BPN) and BPN Invoicing, the Billtrust Business Directory, and targeted eSolutions email campaigns. The work drove 86% electronic invoice presentment, 25% of invoices paid digitally, a 41% increase in invoices paid and a 29% YOY increase in dollars paid, saved 70 hours per month, projected $21,000 in postage savings for 2021, and produced an 18.7‑day DSO for electronic payments, significantly reducing manual keying and costs.

IDEXX Laboratories

Rick Holt

Senior Credit Manager