Billtrust Partners with Procede Software to Speed Payments and Improve Cash Flow for Heavy-Duty Truck and Commercial Vehicle Customers

Rhea-AI Summary

Billtrust (NASDAQ: BTRS) has partnered with Procede Software to enhance accounts receivable automation for heavy-duty vehicle dealers. This integration will provide automated electronic invoicing and digital payment solutions, designed to help customers accelerate payment processes and increase revenue. Billtrust's cloud-based AR software will link with Procede's Excede® DMS, enabling customers to efficiently manage invoicing and payments, thus reducing manual workload and operational costs.

Positive

• Partnership with Procede Software enhances Billtrust's service offerings.
• Integration of cloud-based AR software allows for faster invoicing and payment processes.
• Expected increase in customer revenue and efficiency from the automation of invoicing.

Negative

• None.

Dealerships to Benefit from Accounts Receivable Automation through Electronic Invoicing and Digital Payments Acceptance

LAWRENCEVILLE, N.J.--(BUSINESS WIRE)-- Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, announced today it has joined with Procede Software, a heavy-duty truck and commercial vehicle dealer management system (DMS) and solutions provider, to help their customers get paid faster, grow revenue and increase profitability. Billtrust’s leading cloud-based accounts receivable (AR) software will integrate with Procede’s dealer management software, Excede® and offer customers a complete solution for automated, electronic invoicing and digital payments, as well as access to Billtrust’s Business Payments Network, which maximizes supplier electronic payments.

With a strong client roster of heavy equipment dealers, Procede Software chose Billtrust to help its heavy duty commercial vehicle customers maximize their ability to invoice electronically and get paid digitally, increasing efficiency.

“Procede Software continues to build our Certified Partner ecosystem with industry-proven solutions that bring our customers real value,” said Larry Kettler, CEO, Procede Software. “Partnering with Billtrust provides our customers state-of-the-art accounts receivable management paired with expertise in electronic invoicing and integrated digital payment optimization.”

“We’re proud and excited to help Procede Software’s customers automate their accounts receivable operations,” said Steve Pinado, Billtrust President. “With modernized AR practices, Procede’s customers will benefit from automatically delivering invoices, enabling them to avoid the labor and expense of manually keying invoice data while embracing digital B2B payments, giving them the ability to accept payments through their preferred channels.”

About Billtrust

Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the benefits and synergies that may be realized by Billtrust (“the Company”) and Procede Software as a result of the relationship. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including Billtrust’s and Procede Software’s ability to realize the anticipated benefits and synergies of the relationship. There may be additional risks the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005145/en/

Investor Contact

John T. Williams

IR@billtrust.com



Media Contact

Paul Accardo

PR@billtrust.com

Source: Billtrust

FAQ

What is the recent partnership announced by Billtrust (BTRS)?

Billtrust has partnered with Procede Software to automate accounts receivable processes, providing electronic invoicing and digital payment solutions.

How will the Billtrust and Procede Software partnership benefit customers?

Customers will benefit from faster payment processing, increased revenue, and reduced manual invoice management costs.

What is the significance of the integration between Billtrust and Procede Software?

The integration allows heavy-duty vehicle dealers to leverage Billtrust's AR software with Procede's DMS, enhancing automation and operational efficiency.