The Billtrader platform

The Billtrader platform is simple to use but flexible and powerful at the same time. Think Stretch Armstrong in software form.

Ways to use the Billtrader platform.

Data entry

If you're the accounts person who has to type in all the foreign agent's invoices, let us automate that process for you (and get back to your Sudoku).

Fund transfers

If you just want to take the hassle out of international funds transfer, use it to trade all your foreign invoices into your home currency.

FX markets

If you like playing the FX markets, use it to refine your currency trading strategy to eliminate risk and maximize profit.

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Get paid instantly

When a bill comes in from an overseas agent, email it to us and we’ll put it in the Their Bills section of the Billtrader platform. Do the same when you issue your own bills and we’ll put them in the My Bills section. Trade My Bills against Their Bills to use credit from the bills you’re owed to pay the bills you owe.

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Save staff costs

We load your foreign agent bills straight into your accounting system, thereby reducing your data entry staff costs. We pay your agents, notify them, and update your system, taking those tasks off your hands as well.

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Eliminate Currency Risk

Another great thing about Billtrader is that we eliminate currency risk. Currency rates are locked in when you complete a trade. So you no longer have to worry if the amount you billed your client in September will be enough to pay your agent in December. Say “Adios” to currency headwinds. Say “Hello” to Billtrader.

Let's explore the Billtrader platform.

"Bring out your bills"

When a bill arrives from your foreign agent just email it to us. Our clever software will extract all the relevant information from the invoice, including your and your agents' reference and store it in our portal. Our software compares all the matter numbers to the matter numbers in your database to make sure the references are correct. Our proprietary API then pushes the invoice data into your accounting software (eg Inprotech, Aderant Expert etc) without you having to enter a single number.

Say goodbye to all that nasty data entry and let Billtrader capture your foreign agents' bills automatically.

No more waiting to be paid

When you trade your bills at Billtrader.com we'll pay you the difference between what your foreign agents owe you and what you owe them. And we'll pay it next Tuesday.

That means that you don't have to wait months and months for your bills to be paid. We can pay them for you. Within a week.

We'll then collect the funds from your foreign agents (in a polite and patent-attorney-type way).

No more wire transfers

Right now when you need to pay your foreign agent's bills you need to enter all their bank details into your favourite payment system, calculate the right exchange rate and pay the wiring fees. And you need to do that for every single bill you need to pay.

With Billtrader, once you trade your bills, we take care of all of the foreign payments. You don't even have to tell us their bank details as our software extracts that information from their invoices.

Our proprietary API automatically updates your accounting software, marking all those traded bills as paid and storing the correct exchange rate. We handle the payments to your agents, send them a pretty remittance advice and store a copy of the remittance advice on our portal for you to see.

Imagine - paying all your foreign agents bills without ever having to enter a SWIFT code again!

The payoff is huge

No more bank fees

Billtrader has bank accounts all around the world. So when you pay us, you're paying into a local account. When we pay your foreign agents, we're paying them from a local account.

Right now, when you're paying your foreign agent's bills, your bank takes out $20 at your end and your foreign agent's bank takes out $20 at their end, so neither of you get the full value of your bills and you have to make adjustments in your accounts so the numbers match.

With Billtrader, since 99% of our bank transfers are local, the banks don't get a chance to take out their 2 x $20 along the way.

Imagine how your foreign agents will feel when they receive the exact amount on their invoice, without their bank taking out $20 on the way through?

Your agents can pay locally

When you're sending bills out, put "Please pay billtrader.com" on your invoice. When your foreign agent gets the bill they simply enter the invoice number at billtrader.com and we'll give them the details of the Billtrader bank account in their country where they can send the money.

So your foreign agent doesn't have to enter any SWIFT codes either, because they are doing a local transfer into a bank account in their country via their usual online banking system.

Because they are sending you a local payment and not an international wire transfer, their bank won't charge them anything.

They'll be happy about how easy it is AND they'll save $20 in wiring fees each time.

They'll be so happy that they'll pay your bills faster. Well, maybe not, but they'll still be happy.

Eliminate currency exchange risk

Right now it takes months to be paid by your foreign agents and months to pay them. During that time the currency market can shift against you, causing tens of thousands of dollars in foreign exchange losses. With Billtrader, you can eliminate your currency exchange risk on every bill you send or receive, by trading them into your home currency.

For example, on day 1 you receive a EUR1,500 bill from your German agent but your home currency is British Pounds. How much do you need to bill your local UK client today so you'll have enough GBP to buy EUR1,500 in three month's time when you need to pay your German agent?

The answer is: you can't be certain. Who knows what the currencies will do between now and then? Billtrader solves this riddle by giving you a fixed, guaranteed GBP amount today that you can charge your local client and then pay to Billtrader in three months' time. It's effectively a forward exchange contract on every bill you receive, thereby creating the perfect currency hedge.

And you can still add on a fee for co-ordinating your client's case via your German associate; we just remove the uncertainty over how much of that co-ordination fee you'll get to keep. Right now you give some of it up in currency losses. With Billtrader, you'll keep 100%.

US Agent < $

£ > UK Agent

How does that sound?

If that all sounds interesting, why not test us out free for 30 days? We'll capture the bills you email us and let you do some pretend trades. If you're happy with how it's working we can then switch you over to a live account.

Open a trial account