Anchor is a payment platform that connects companies and their customers via a “live online agreement” that acts as a single source of information. Anchor’s independent end-to-end billing and payments alternative involves the full process, beginning with the merchant and consumer agreement and maintaining the billing, payment, and reconciliation steps. This allows companies of all sizes to concentrate on chargeable work rather than the hectic and expensive physical work it takes to get properly paid.
Rom Lakritz, Co-founder & CEO of Anchor, said, “The challenges of billing and collections, which make paying a vendor a hefty process, stem from the human element. If people could trust the invoices they receive from service providers just like they trust machine-generated invoices from their Spotify and Amazon accounts, billing and payments would no longer be a painful process, and cash would easily flow in a market estimated at over $120 trillion annually.“
When the product is given, or the payment due date approaches, Anchor interfaces with the customer’s payment details and the supplier’s tech platform, and bills are instantly filled and distributed in compliance with the terms and commitments. Anchor streamlines the collecting and reconciling of payments after they’ve been issued.