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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 The company addresses the inefficiencies of traditional accounts receivable (AR) processes, which are often outdated, manual, and heavily reliant on paper.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 (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.
BTRS Holdings Inc. (NASDAQ: BTRS) announced that CEO Flint Lane will present at the Wolfe FinTech Forum on March 9, 2022, at 2:20 p.m. ET, lasting about 35 minutes. A live audio webcast will be available, with a replay archived for 30 days. Additionally, CEO Flint Lane and CFO Mark Shifke will participate in investor meetings at the virtual Bank of America Electronic Payments Symposium on March 21, 2022. BTRS, known for its cloud-based software and integrated payment solutions, aims to enhance B2B commerce by transforming outdated accounts receivable processes.
BTRS Holdings reported strong financial results for Q4 and full year 2021, exceeding expectations. Software and payments segment revenue grew by 25.1% in Q4 and 28.0% for the full year. Total revenue for Q4 reached $42.9 million, up 10.9% year-over-year. Despite a net loss of $16.5 million for Q4, total payment volume surged 45% to $22.9 billion. Looking ahead, the company forecasts 2022 total revenue between $195 million and $207 million, indicating significant growth potential.
Billtrust (BTRS) announces a partnership with Coupa Software (COUP) to streamline B2B payments via the Business Payments Network (BPN). This collaboration allows Coupa customers to automate electronic payments to Billtrust's network, enhancing the payment process. In 2021, Billtrust delivered over $1 billion in supplier invoices, marking a 58% increase from the previous year. CEO Flint Lane expressed enthusiasm for the partnership, emphasizing digital transformation in payment strategies. This partnership aims to maximize electronic spend and improve efficiency in financial operations.
Billtrust (NASDAQ: BTRS) announced its latest Cash Application 10.0, enhancing accounts receivable processes with advanced machine learning. This solution utilizes the Business Payments Network to automate remittance collection, offering 100% electronic remittance extraction across various payment methods. Cash Application 10.0 aims to improve cash flow by accelerating revenue recognition through accurate reconciliation of payments. The system is designed for ease of use, enabling quick onboarding and higher processing efficiency for AR teams.
Billtrust (NASDAQ: BTRS) has acquired Order2Cash, a Netherlands-based B2B order-to-cash platform provider, further expanding its global reach in AR automation and integrated payments. This acquisition follows the October 2021 purchase of iController, enhancing Billtrust's European presence. With Order2Cash's enterprise customer base and e-invoicing connections, Billtrust aims to streamline and accelerate B2B payments, providing customers with broader access to a global marketplace. The EU team now exceeds 100 members, enhancing service to over 700 customers.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation, will host a conference call on March 1, 2022, at 4:30 PM ET to discuss its fourth quarter and fiscal year 2021 results. The call will feature comments from Flint Lane, CEO, and Mark Shifke, CFO. Interested parties can access the call via investors.billtrust.com or participate through the telephone. A replay will be available shortly after the call until March 15, 2022.
Billtrust (NASDAQ: BTRS) achieved a significant milestone in 2021, delivering over
Billtrust (NASDAQ: BTRS) has appointed Aimie Killeen as Chief Legal Officer to direct its legal, compliance, and regulatory functions during its ongoing global expansion. Killeen, who has extensive experience in the SaaS and payments sectors, will report to CEO Flint Lane. This appointment follows Billtrust’s recent acquisition of Belgium-based iController, a B2B collections software provider. Killeen's expertise is expected to fortify Billtrust’s capabilities in optimizing B2B payments and digitizing accounts receivable.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation, announced participation in Needham’s 24th Annual Virtual Growth Conference on January 10, 2022, at 3:30 pm ET. The management team will present insights on the company's innovative solutions that digitize and streamline accounts receivable processes. Live webcasts of the presentation will be accessible on the company's investor relations website. BTRS focuses on transforming outdated AR practices through automated payment processing and integrated software solutions.
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