Esker Partners with Boost Payment Solutions to Revolutionize Virtual Card Processing
New partnership to fully automate virtual card processing for accounts receivable departments
MIDDLETON, Wis. and NEW YORK, N.Y.— September 5, 2023 — Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, today announced it has partnered with Boost Payment Solutions, an innovative leader in optimizing the use and acceptance of commercial cards in the business-to-business (B2B) landscape. This first-of-its-kind partnership aims to transform virtual card processing for accounts receivable (AR) departments – eliminating tedious manual efforts and streamlining payment reconciliation.
Sending one-time-use virtual cards to suppliers is an increasingly popular payment method, but processing these card payments by hand can be burdensome for AR departments, requiring substantial manual intervention. By harnessing Esker’s cutting-edge automation technology with Boost Intercept® – Boost’s straight-through processing (STP) solution – this partnership brings unparalleled efficiency and simplicity to the virtual card acceptance process. Businesses can now seamlessly integrate virtual card payments into their AR workflows, eliminating manual intervention, human errors and improving processing time and costs.
“Partnering with Esker for our virtual card processing solution was an easy decision. Being backed by a proven track record of excellence, Esker was an ideal choice for this partnership,” said Dean M. Leavitt, Founder & CEO of Boost Payments Solutions. “We are thrilled to pair our award-winning technology with the well-established Esker Pay suite to create a fully passive acceptance experience. Esker's unwavering commitment to finding the best technology for its customers mirrored our own values, ensuring a seamless and rewarding partnership for all parties involved.”
Since 2009, Boost has been reinventing how card payments are initiated, accepted and processed for companies worldwide. This partnership marks a milestone for both Boost and Esker in the AR space by offering organizations an innovative solution to streamline virtual card processing and unlock new levels of financial optimization.
“Virtual card payments are growing at a tremendous speed,” said Steve Smith, U.S. Chief Operating Officer at Esker. “We’ve seen a huge uptick in card issuance on the AP side and want to be a step ahead as it progresses to the receiving end. We are extremely excited about this new partnership with Boost, as it further solidifies our commitment to progress and meeting our customers’ evolving needs for innovative and efficient payment solutions.”
Boost Payment Solutions is the global leader in B2B payments with a technology platform that seamlessly serves the needs of today's commercial trading partners. Our patented technology solutions bridge the needs of buyers and suppliers around the world, eliminating friction and delivering process efficiency, payment security, data insights, and revenue optimization. Boost was founded in 2009 and operates in 45+ countries.
Please visit us at www.boostb2b.com.
Esker is a global cloud platform built to unlock strategic value for Finance, Procurement and Customer Service professionals, and strengthen collaboration between companies by automating the cash conversion cycle. Esker’s solutions incorporate AI technologies to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and employees. Founded in 1985, Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Middleton, Wisconsin. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on LinkedIn and join the conversation on the Esker blog at esker.com/blog.