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PeerSpot Review

Supplier Testimonial: Optimizing Working Capital & Preventing Fraud

“The responsive support
enhances working capital
management and provides
a high degree of scalability.”

 

BACKGROUND

  • Stakeholder type: Supplier
  • Title: Credit Risk Manager
  • Industry: Manufacturing
  • Number of employees: 10,001+
  • How long they have used the solution: 4 years

What is our primary use case?

“We use Boost Intercept primarily to minimize the working capital impact of payment terms for our large key customers and, in certain cases, to mitigate risk associated with high-risk customers. This solution allows us to collect payments within our desired timeframe while providing customers with extended payment terms, creating a mutually beneficial arrangement.”

How has it helped my organization?

“The automated payment framework is excellent and seamless from a collections perspective. It requires minimal effort from our back-end receivables specialist, improving efficiency and positively impacting both payment terms and cash flow. Our automated payment framework uses a virtual card program to minimize working capital and provide value to our customers. Boost Intercept is a key partner in this initiative, consistently offering innovative virtual card solutions. This partnership has allowed us to expedite outstanding payments, improve cash flow, and streamline back-end processes. We highly value their contributions to our payment system.


Boost Intercept has helped improve our working capital management by enabling us to bring cash in more quickly and efficiently. It also reduces manual workflows by automating processes within our invoice-to-cash team. We immediately saw the benefits of Boost Intercept. Our customers often demand extended payment terms, but to minimize working capital and risk, Boost Intercept allows us to accelerate cash collection at a reasonable rate while still offering those extended terms. This provides value to both our business and our customers. When we first partnered with Boost Intercept, they collaborated closely with our invoice-to-cash team, automating processes and reducing manual workflows by minimizing touchpoints. This streamlined our cash application and improved efficiency in managing customer accounts. Some customers were incurring high interchange fees, but we negotiated lower rates with Boost Intercept. Boost Intercept helped decrease our overall card processing costs.”

What is most valuable?

“The Boost Intercept service is responsive and provides excellent on-the-spot communication, invaluable for addressing my numerous questions. Thanks to their helpful platform, this tool effectively minimizes working capital and has seamlessly integrated into our processes.”

What do I think about the scalability of the solution?

“Boost Intercept is highly scalable. We have implemented it across numerous customers.”

How is customer service and support?

“We have an excellent customer support representative.”

What was our ROI?

“Boost Intercept has significantly improved our cash flow management. Access to quicker cashflow through their services is a significant benefit, especially at quarter ends when working capital is critical.”

What other advice do I have?

“Since implementing the Boost Intercept program in 2020, we have not experienced any fraud-related issues with our customers who utilize Boost. We have not had any maintenance issues on our end. Users should assess their priorities. For us, bringing in cash quickly at a reasonable price is vital. The service is excellent, and we've been very happy with it.”

For more in‐depth insights from real user reviews, visit the PeerSpot website at https://www.peerspot.com/products/boost-intercept-reviews.

Download This Testimonial

About Boost

Boost Payment Solutions is the global leader in B2B payments with a technology platform that is purpose-built to meet the complex demands of today's commercial trading partners. Our proprietary 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. Boost Intercept®, our patented Straight Through Processing (STP) platform, eliminates manual workflows with end-to-end payment and data automation. Breaking the mold of traditional rigid credit card pricing constructs, Dynamic Boost® offers buyers and suppliers payment flexibility based on business rules that fit their mutual needs. The Boost 100® platform brings together all the solutions and services that large enterprises need to enable up to 100% of their AP spend on their commercial card.
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  @Boost Payment Solutions
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