ORLANDO, Fla.--(BUSINESS WIRE)--Viewpost, the secure B2B network for electronic invoicing, payments and cash management, announced strong quarter-over-quarter growth, outpacing Q1’16 by as much as 1,120 percent. Quarter-over-quarter growth in registrations reached 354 percent in Q1’17, underscoring both market demand and appetite for a solution that removes friction from the invoicing and payment processes. Payment volume grew by 324 percent. Total combined value of invoices and payments processed now exceeds $76.6 billion.
“This is not only a reflection of Viewpost’s broad capabilities suited for American small and midsize businesses but also of the limitations inherent in any solution that doesn’t address the full complexity of the problem,” said Max Eliscu, CEO of Viewpost. “SMBs create two out of every three jobs annually, but fintechs have failed to deliver the comprehensive and interoperable tools needed for them to thrive. After years of industry indifference, Viewpost is democratizing the B2B ecosystem and seeing steep growth as a result.”
Committed to changing the face of small business bill payment, Viewpost recently announced an exclusive U.S. partnership with Visa. This alliance will help financial institutions in the U.S. bring to market a tokenized and optimized SMB finance management solution that seamlessly integrates with their online banking site.
“Viewpost is continuing to prove that it is paving the way for a future of B2B commerce that is frictionless. This year’s growth provides an example for companies to aspire to and work towards,” said Rob Enderle, Principal Analyst at Enderle Group. “I’ve been impressed with the bank partners and customers the team has brought on board and am looking forward to seeing more.”
“We’re happy that our bank introduced us to Viewpost last year,” said Michael Jarquin, CEO of the California-based Quinox Ventures Holding Company. “Since joining Viewpost, we’ve moved our invoicing and payments online and connected to 59 of our customers and suppliers. Now we have on-demand access—at home, after hours and on the weekend—to information about when we’ll be paid and how much we owe. Plus, we use Viewpost’s free integration software to send data to and from QuickBooks, saving us the hassle of hand-keying receivables and payables every week."
“I can’t believe how much time we used to waste and how much money we used to spend trying to keep up with paying our suppliers on time,” said Karl Ermatinger, CEO of the Michigan-based Industrial Control Services. “With Viewpost, we’ve automated payments, integrated our QuickBooks invoice and payments data, given our suppliers an easy way to know when they’ll be paid without calling or emailing us, and dramatically cut the cost of doing all of it. We’re running smarter and smoother as a result."
Growing Market Demand and Desire for Electronic Payments
Viewpost’s dynamic discounting capabilities drove further growth, as small businesses accelerated their requests for early payment, up 680 percent quarter over quarter. This growth highlights the working capital gap which continues to plague small businesses, as well as the opportunity for large corporate payers to optimize liquidity while supporting their growing supplier relationships.
Viewpost’s 2017 momentum validates its vision and execution strategy. As an open and cloud-based service, Viewpost integrates with existing receivables and payables software so businesses of any size can digitize and streamline billing, payment and cash flow management without making costly and time-consuming investments in new tools or processes.
Viewpost North America is revolutionizing the way businesses transact with each other. Viewpost built the most trusted open business network to empower businesses of all sizes with real-time cash management for anytime operating decisions. On the secure Viewpost network, companies connect and exchange electronic invoices and payments with unprecedented ease and visibility, accessing working capital on demand. Enterprise clients using Viewpost to cut costs, increase efficiency and improve cash management include Accenture, Florida Hospital, Georgetown University, the Orlando Magic and Whole Foods Market. With enterprise-grade security, including ISO 27001 and SSAE16 audited certifications, the TRUSTe Privacy Seal and Skyhigh CloudTrust Enterprise-Ready Rating, Viewpost is partnering with financial institutions to bring cash management tools to business customers at U.S. Bank, Fifth Third Bank and more. Viewpost innovation has been awarded Best in Show by Barlow Research, Best CISO/CSO by FireEye Cyber Defense Summit, CSO50 Award (four-time honoree) by IDG’s CSO, and Best B2B Payments Platform by Tradestreaming. Since Viewpost was opened to the public in early 2015, the total invoices presented and payments processed have reached $76.6 billion across the network. Founded in 2011, Viewpost is headquartered in the Orlando area, with additional teams in Boston, Minneapolis and San Francisco. Learn more at www.Viewpost.com, viewpost.com/blog and @Viewpost.