Johnstone Supply LLC Chooses Billtrust to Enable Digital Accounts Receivable Capabilities

Rhea-AI Summary

Billtrust (NASDAQ: BTRS) has partnered with Johnstone Supply, a top HVACR distributor, to enhance the order-to-cash process for over 90 business owners. This collaboration leverages Billtrust’s invoicing and payment solutions, aimed at accelerating payment processes and improving cash flow. As a result, Johnstone Supply’s business owners can enhance digital payment acceptance and reduce operational costs. This alliance emphasizes Billtrust's expertise in automating accounts receivable for wholesalers, aligning with their mission to streamline B2B commerce.

Positive

• Partnership with Johnstone Supply enhances Billtrust's market reach.
• Utilization of Billtrust's automated solutions expected to boost cash flow for Johnstone Supply's business owners.
• Increased electronic payment processing offers potential cost reduction and better customer service.

Negative

• None.

Wholesale HVACR Distributor Adopts Billtrust Invoicing and Payments Platforms for its Business Owners

LAWRENCEVILLE, N.J.--(BUSINESS WIRE)-- Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, and Johnstone Supply, a leading cooperative wholesale distributor in the HVACR industry, today announced a strategic collaboration that will help their 90+ individual Johnstone Business Owners take control of the order-to-cash process. Billtrust has extensive experience with wholesale distributors and was identified as the ideal solutions provider to help individual Johnstone locations take advantage of electronic invoicing and integrated payments through its cloud-based platform.

“Billtrust can help our Business Owners get paid more quickly, maximize cash flow and grow their operations,” said Michael Chill, Chief Information Officer at Johnstone Supply. “We always seek to fulfill our ‘making it easier to do business’ mission by partnering with top solution providers like Billtrust to enable the world-class solutions they offer.”

Billtrust has a long history working with individual Johnstone Supply locations, demonstrating success that ultimately led to the collaboration. With the help of Billtrust’s automated solutions, numerous Johnstone Supply Business Owners have already successfully increased their digital footprint with their customers. With an increase in electronic payment processing, Business Owners are able to reduce costs, improve cash flow and provide a higher level of customer service.

“Johnstone Supply’s Business Owners benefit from our industry-leading order-to-cash platform to automate their accounts receivable operations,” said Steve Pinado, Billtrust President. “We’re proud to partner with the Johnstone Supply team to maximize both electronic invoice presentment and digital payment acceptance with a focus on helping them reduce costs and meet the needs of their customers.”

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.

About Johnstone Supply

Headquartered in Portland, Oregon, Johnstone Supply is a leading North American HVACR brand with over $4B in annual sales generated by its 90+ Distributors operating over 440 independently owned store locations across the U.S. and Canada. The Johnstone Business Owners are supported by six Regional Distribution Centers, offering access for its customers to over 75,000 Johnstone products and millions of special-order parts through its relationships with hundreds of the industry's top manufacturers. Johnstone is recognized for its value-added services powered by thousands of onsite technical experts, industry leading training programs, and technology tools that streamline equipment selection, troubleshooting and ordering. Johnstone and its 80+ Distributors are dedicated to their communities through service and the generous commitment of financial and other resources. Johnstone is proud to be an official partner and active contributor to Operation Homefront, a national non-profit providing emergency financial and other assistance to the families of military members. For press inquiries, please email press@Johnstonesupply.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 Johnstone Supply as a result of the collaboration. These forward-looking statements are subject to a number of risks and uncertainties, including our ability to integrate with customers’ and partners’ application programming interfaces for their billing and payment systems and with third-party technologies; our ability to develop partnerships with financial institutions, third-party service providers, processing providers and other financial services suppliers; our ability to implement services provided by us or our partners; our ability to adapt and respond effectively to rapidly changing technology, evolving industry standards, changing regulations and payment methods, demand for product enhancements, new product features, and changing business needs, requirements or preferences and the risks discussed in Billtrust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 9, 2022, under the heading “Risk Factors” and other documents of Billtrust filed, or to be filed, with the SEC, including Billtrust’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 filed with the SEC on August 9, 2022. If any of these risks materialize or any of Billtrust’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Billtrust presently does not know of or that Billtrust currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Billtrust’s expectations and views as of the date of this press release. While Billtrust may elect to update these forward-looking statements at some point in the future, Billtrust specifically disclaims any obligation to do so other than to the extent required by applicable law. Accordingly, undue reliance should not be placed upon the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005094/en/

Investor Contact

John T. Williams

IR@billtrust.com

Media Contact

Paul Accardo

PR@billtrust.com

Source: BTRS Holdings Inc.

FAQ

What is the significance of the partnership between Billtrust and Johnstone Supply?

The partnership aims to enhance the order-to-cash process for over 90 Johnstone Supply business owners, improving their cash flow and payment processing.

How will Billtrust's platform benefit Johnstone Supply's business owners?

Billtrust's platform will help business owners get paid more quickly, maximize cash flow, and reduce operational costs through automated invoicing and payment solutions.

What is the stock symbol for Billtrust?

Billtrust is traded under the stock symbol BTRS on NASDAQ.

When was the partnership between Billtrust and Johnstone Supply announced?

The partnership was announced on August 25, 2022.