- The B2B payment process has long been plagued by inefficiencies, including cumbersome manual follow-ups, fragmented payment portals, and delayed payments.
- Monto’s approach aligns with emerging open banking regulations, which demand more transparent and efficient payment processes.
OUR TAKE
Monto’s a game-changer for B2B payments, streamlining a once-cumbersome process. Its single platform integrates 300+ payment gateways, automating invoices and minimising errors. Companies like Appsflyer and Cloudinary have already seen the benefits, boosting efficiency. Monto’s zero-touch approach is a “dimensional strike” against traditional methods, proving that innovation in payment can make a world of difference. Time to say goodbye to the headaches of the past.
–Miurio huang, BTW reporter
What happened
The B2B payment process has long been plagued by inefficiencies, including cumbersome manual follow-ups, fragmented payment portals, and delayed payments. Traditional methods often involve sending invoices via email or post, which can be error-prone and time-consuming. Additionally, businesses may have to navigate different payment systems, adding complexity and causing delays. Monto, a newly launched startup, aims to address these issues with a revolutionary approach.
Monto integrates over 300 payment portals into a single, streamlined platform, allowing users to manage invoices through one interface. The platform automates the invoicing process, ensuring invoices are correctly formatted and processed according to each portal’s requirements. This zero-touch approach reduces manual intervention and minimises errors, significantly improving the efficiency of invoice management.
Also read: What are some examples of B2B fintech solutions?
Also read: What is B2B fintech? And how does it work?
Why it’s important
Monto’s platform is important for several reasons. Firstly, it enhances efficiency and reduces administrative burden by consolidating multiple payment portals into one interface, automating the invoicing process, and accelerating approval and payment cycles. This addresses the common delays and inefficiencies of traditional methods.
The platform provides real-time visibility into invoice statuses, reducing the need for follow-up calls and ensuring prompt processing. Once an invoice is approved through Monto, it becomes a legal obligation for the customer to pay, which lowers the risk of non-payment and improves cash flow.
Monto’s approach aligns with emerging open banking regulations, which demand more transparent and efficient payment processes. This positions Monto for future expansion into regions with stringent invoicing regulations, such as Europe. Success stories from companies like Appsflyer, which has streamlined its payment collection, and Cloudinary, which has reduced invoice rejections by 23.5%, highlight the platform’s effectiveness and transformative potential in the B2B payment landscape.
