Welcome to our dedicated page for BTRS news (Ticker: BTRS), a resource for investors and traders seeking the latest updates and insights on BTRS stock.
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 The company addresses the inefficiencies of traditional accounts receivable (AR) processes, which are often outdated, manual, and heavily reliant on paper.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.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation, has announced the updated schedule for its participation at the William Blair Growth Stock Conference in Chicago, IL. On June 7, 2022, CEO Flint Lane and CFO Mark Shifke will engage in a 30-minute fireside chat starting at 9:00 a.m. Eastern Time. A live audio webcast will be available, and replays can be accessed for 30 days on their investor website.
Billtrust aims to transform accounts receivable through digital solutions that streamline credit decision-making, invoicing, payments, and collections.
Billtrust (NASDAQ: BTRS) has announced the lineup for Billtrust Insight 2022, a premier virtual conference scheduled for June 14-16, 2022. Key speakers include former ABC News anchor Dan Harris and Gainsight CEO Nick Mehta, who will address critical industry topics. The event will focus on education and networking, showcasing best practices in AR and integrated payments. Registration is open for this no-cost event, aiming to enhance knowledge among financial professionals regarding the future of billing and payments.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation, announced its participation in key investor conferences in May and June 2022. CEO Flint Lane will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2022, at 3:10 p.m. ET, followed by the William Blair Growth Stock Conference on June 6, 2022, at 5:00 p.m. ET. Additionally, Lane and CFO Mark Shifke will host meetings at the Bank of America 2022 Global Technology Conference on June 8-9, 2022. Both discussions will be available via live audio webcast.
Billtrust (NASDAQ: BTRS) has successfully implemented its Credit Application solution for PepsiCo's Blue Cloud Distribution, enhancing customer service and speeding up credit approvals. This partnership enables BCD to onboard hundreds of new distributors for the launch of HARD MTN DEW, achieving a 99% approval rate within a day. The process is now paperless, reducing environmental impact and improving internal communication. BCD expects ongoing measurable results from this collaboration, reinforcing its commitment to efficient operations.
BTRS Holdings reported a strong first quarter for 2022, with total revenue increasing by 8.8% year-over-year to $45.6 million. The software and payments segment revenue rose 16.3% to $29.9 million. Gross profit climbed 12% to $26.7 million, pushing gross margins to 58.6%. Notably, total payment volume surged 45% to $22 billion. However, the net loss widened to $29 million. The company reaffirmed its full-year revenue guidance of $195 million to $207 million.
American Express (NYSE: AXP) has partnered with Billtrust (NASDAQ: BTRS) to enable suppliers to efficiently accept American Express virtual cards. This collaboration streamlines the accounts receivable process, allowing suppliers to automate payments and gain real-time visibility of their invoices and cash flow. The integration aims to enhance digital payment options in response to increasing demand for efficient payment solutions, moving businesses away from traditional paper-based methods. This partnership highlights both companies' commitment to improving supplier and customer experiences.
Billtrust (NASDAQ: BTRS) has appointed John W. Murray to its Board of Directors, effective April 22, 2022. Murray brings extensive experience in technology and entrepreneurship, previously leading organizations through significant transformations. He will serve on Billtrust’s Nominating, Corporate Governance, and Compensation Committees. Known for driving innovation and maximizing shareholder value, Murray is currently a strategic advisor at The Riverside Company. This appointment aligns with Billtrust's ambitions for global expansion and innovation in B2B accounts receivable automation.
BTRS Holdings Inc. (NASDAQ: BTRS) will announce its Q1 2022 financial results on May 10, 2022, after market close. A conference call will follow at 4:30 p.m. ET, featuring CEO Flint Lane and CFO Mark Shifke. Investors can access the call via webcast or phone. The company specializes in B2B accounts receivable automation and integrated payments, offering solutions that streamline various financial processes. This announcement highlights BTRS's ongoing commitment to transparency and engagement with shareholders.
Billtrust (NASDAQ: BTRS) announced an expansion of its Business Payments Network (BPN) partnership with KeyBank, enabling clients to automate B2B invoice delivery and payment processing. This enhancement aims to increase efficiency for clients who currently upload invoices to multiple accounts payable portals. The partnership is expected to improve cash flow and streamline operations as clients can now deliver invoices to over 170 leading accounts payable portals.
Billtrust (NASDAQ: BTRS) has partnered with Arvest Bank to enhance B2B electronic payments through its Business Payments Network (BPN). This collaboration allows Arvest’s clients to streamline payment processes, increasing adoption of virtual credit cards and access to suppliers. In 2021, Billtrust saw over $1 billion in supplier invoices delivered, marking a 58% growth from the previous year, a testament to the increased adoption of its solutions. This partnership positions both firms to capitalize on the growing demand for digitized payment solutions.
FAQ
What is the market cap of BTRS (BTRS)?
What does BTRS Holdings, Inc. do?
How does Billtrust improve accounts receivable processes?
Who are the newest executives at Billtrust?
What is the Days to Pay Index?
What is Billtrust's 'Moving Finance Forward' initiative?
How many customers does Billtrust serve?
How much invoice value does Billtrust process annually?
What new features are available on Billtrust.com?
What financial tools does Billtrust offer?
How can Billtrust help finance leaders?
