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BTRS Holdings, Inc., known as Billtrust, is a market leader in providing cloud-based software and integrated payment processing solutions designed to simplify and automate B2B commerce. The company addresses the inefficiencies of traditional accounts receivable (AR) processes, which are often outdated, manual, and heavily reliant on paper. Billtrust offers essential solutions that cover various aspects of AR, including credit decisioning, online ordering, invoice delivery, payment and remittance capture, cash application, and collections.
Billtrust is spearheading the digital transformation of AR, helping businesses transition from costly paper invoicing and check payments to efficient electronic billing and digital payments. With a growing client base that now includes over 2,600 customers across 36 countries, Billtrust processes more than $1 trillion in invoice dollars annually. The company’s expertise and dedication to delivering meaningful customer outcomes have solidified its position as a trusted partner for finance leaders looking to control costs, improve cash flow, and enhance customer satisfaction.
In recent developments, Billtrust announced four new executive appointments aimed at strengthening its leadership team and bolstering financial resilience amid economic challenges. The new executives include Philip Ragona as Chief Legal Officer, Nick Izquierdo as Executive Vice President of Payments, and Esther Pomeleo-Fowler as Executive Vice President/Chief Customer Officer. Additionally, Christy Green has been promoted to Executive Vice President of Professional Services.
Billtrust continues to innovate with the launch of a new, user-friendly interface for its AI-powered AR software platform. This platform provides enhanced insights and a comprehensive view of AR processes, optimizing cash flow and improving staff productivity. A key feature of the platform is the Days to Pay Index, a proprietary benchmark measurement that offers customers valuable insights into their payment collection efficiency compared to industry peers.
Under its new brand promise, 'Moving Finance Forward,' Billtrust is committed to revolutionizing the order-to-cash process, elevating the customer experience, and helping companies achieve their financial goals faster. The company’s website, Billtrust.com, now features interactive web browsing capabilities and a new e-book titled 'Moving Finance Forward with Unified Order-to-Cash,' offering finance teams resources to leverage advanced analytics, AI, and automation in their AR processes.
Billtrust, a leader in B2B accounts receivable automation, has been named a Leader in the G2 Grid® Report for Accounts Receivable Automation Software for Spring 2023. This marks the eighth consecutive quarter Billtrust has received this recognition. The company also ranks as a Leader in categories for both Enterprise and Medium-Sized Businesses. With over 2,600 customers and more than $1 trillion in invoice dollars processed, Billtrust provides solutions that enhance cash flow and customer satisfaction by transitioning from traditional paper invoicing to electronic payments.
CEO Sunil Rajasekar emphasized the importance of authentic reviews from users, highlighting that Billtrust helps businesses get paid faster, especially during economic downturns.
Billtrust has partnered with LYNXUS to enhance transportation and logistics clients' automated invoicing and payment solutions. This collaboration aims to digitize accounts receivable (AR) functions, ensuring faster payments and improved cash flow. Billtrust's order-to-cash platform reduces manual tasks, helping firms navigate potential economic downturns. With extensive experience in transportation, this partnership is designed to lower AR costs and meet the growing demand for B2B digital payments.
LYNXUS emphasizes the need for quicker invoicing to maximize cash flow, while Billtrust's solutions support financial resilience for transportation companies.
Billtrust announces the appointment of Scott Collins as Chief Commercial Officer, who will lead global sales and new business development. His experience includes leadership roles at HireRight, Equifax, and LexisNexis. This comes at a pivotal time as companies are increasingly adopting accounts receivable automation and digital payment solutions. CEO Sunil Rajasekar emphasized the importance of Collins' leadership in expanding Billtrust's global presence during this growth phase. The company, a leader in B2B order-to-cash solutions, aims to enhance customer satisfaction and operational efficiency.
On February 8, 2023, Billtrust announced a partnership with NSA Computer Exchange Corp, a specialist in cloud-based ERP solutions for wholesale distribution. This collaboration aims to provide automated accounts receivable solutions, enhancing invoicing and payment processes for clients. The partnership leverages both companies' expertise in the wholesale distribution sector, allowing clients to improve cash flow and operational efficiency. Patrick VanPutte, NSA's President, emphasized Billtrust's ability to expedite payments for wholesalers, while Nick Babinsky, Billtrust's SVP of Channel Partnerships, highlighted the strategic advantage this partnership offers.
Billtrust, a leader in order-to-cash software, has announced the appointments of Grant Johnson as Chief Marketing Officer and Robert Purcell as Chief Financial Officer, effective January 10, 2023. These appointments follow the company's acquisition by EQT in December 2022. Johnson brings extensive experience in revenue growth and acquisitions, while Purcell has a strong background in finance and operational leadership, including a previous role as CFO at Talend. These changes aim to enhance Billtrust's efforts in digitizing the order-to-cash process.
Billtrust, a leader in B2B order-to-cash software, has been recognized as the overall Leader in the G2 Grid® Report for Accounts Receivable Automation Software for Winter 2022. This distinction highlights Billtrust's commitment to enhancing accounts receivable processes, emphasizing its position as the top choice for Enterprise and Medium-Sized Businesses. G2's rankings are based on real user data, validating Billtrust's effectiveness in helping clients achieve faster payments and streamline their operations.
BTRS Holdings, known as Billtrust, has finalized its acquisition by EQT X fund, part of EQT, a global investment firm. Announced on September 28, 2022, the acquisition received shareholder approval on December 13, 2022. Shareholders will receive $9.50 per share in cash. Following the acquisition, Billtrust's common stock is no longer traded on NASDAQ. J.P. Morgan Securities served as the financial advisor for Billtrust, while Evercore advised EQT.
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