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 The company addresses the inefficiencies of traditional accounts receivable (AR) processes, which are often outdated, manual, and heavily reliant on paper.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) has completed the exchange offer for its outstanding warrants, issuing 3,715,441 shares of Common Stock at an exercise price of $11.50 per share. The exchange date for remaining outstanding warrants is set for December 31, 2021. This initiative, in cooperation with Continental Stock Transfer & Trust Company and BofA Securities, aims to streamline operations and simplify capital structure. Billtrust provides cloud-based software and payment solutions for B2B commerce, focusing on digital transformation in accounts receivable processes.
BTRS Holdings Inc. (NASDAQ: BTRS) announced the expiration of its exchange offer for outstanding warrants, which concluded on December 16, 2021. Approximately 99.2% of the warrants, totaling 12,391,408, were validly tendered. The company will accept these for exchange and settlement by December 21, 2021. Additionally, the consent solicitation for warrant agreement amendments received similar approval. A Registration Statement registering shares issuable in the offer was declared effective on the same day. Billtrust aims to enhance its position in the B2B accounts receivable automation market.
Billtrust (NASDAQ: BTRS) has released findings from a study highlighting that best-in-class accounts receivable (AR) organizations exhibit 25% better customer service and 23% improved collections than average AR departments. These top performers provide 20% more self-service options and receive payments 15% faster. The research introduces an AR maturity model, emphasizing the importance of digital payments, predictive analytics, and proactive account management. Billtrust aims to help AR teams identify their modernization stage for enhanced cash flow and customer satisfaction.
BTRS Holdings Inc. (NASDAQ: BTRS) has announced an exchange offer and consent solicitation for its warrants, aiming to simplify its capital structure. The company offers 0.30 shares of Common Stock for each warrant tendered, with a total of up to 3,749,307 shares available. Concurrently, BTRS is seeking consent to amend the warrant agreement, allowing for a lower exchange ratio of 0.27 shares per warrant upon closing. Approximately 56.44% of warrant holders have agreed to participate. The Offer will expire on December 16, 2021. Further details are available in the SEC filings.
Billtrust (NASDAQ: BTRS) has appointed Kelli Negro as the new Chief Marketing Officer. With over 25 years of experience in B2B marketing, Negro will be instrumental in enhancing the company's brand positioning and demand generation efforts during its global expansion, particularly in Europe. Billtrust, known for its innovative B2B accounts receivable automation solutions, recently acquired Belgium-based iController, further bolstering its market presence. This strategic leadership change is expected to drive organic growth and leverage Billtrust’s existing strengths.
BTRS Holdings announces strong Q3 2021 results, exceeding expectations with total revenue growth of 8% to $41.4 million. Software and payments revenue surged 21.5% year-over-year to $26.0 million, while gross profit increased 15.5% to $23.4 million. Despite a net loss widening to $(11.2) million, total payment volume rose 41% to $21.0 billion. The company acquired iController, enhancing its European presence, and raised its 2021 guidance, projecting net revenue of $129 million to $131 million.
BTRS Holdings Inc. (NASDAQ: BTRS) announced participation in three upcoming investor conferences: the Citi 2021 FinTech Conference on November 15 at 3:00 pm ET, the JP Morgan Ultimate Services Investor Conference on November 18, and the Credit Suisse 25th Annual Technology Conference on November 30 at 11:20 am ET. Live webcasts of the Citi and Credit Suisse presentations will be accessible on the Company’s investor relations website. BTRS, under the brand Billtrust, specializes in cloud-based software and integrated payment solutions aimed at enhancing B2B accounts receivable processes.
On October 26, 2021, Billtrust (NASDAQ: BTRS) CEO Flint Lane will lead a panel discussion titled “Reimagining Business Payments: Perspectives Across the B2B Ecosystem” on PYMNTS TV. The event, free to view, features industry leaders from Visa, KeyBank, and Coupa discussing the digitization of B2B payments and the importance of interoperability in payments networks. Lane, who has guided Billtrust's growth since 2001, has received numerous accolades for his leadership in the financial sector.
BTRS Holdings Inc. (NASDAQ: BTRS) will discuss its third quarter 2021 financial results on November 10, 2021, at 5:00 pm ET. The call will be hosted by CEO Flint Lane and CFO Mark Shifke. Investors can access the live webcast on the company’s investor relations website. A telephone option is also available at 877-407-3982 (toll-free) for the U.S. and 201-493-6780 internationally. Replay access will be provided after the call, available until November 24, 2021.
Billtrust (NASDAQ: BTRS) has acquired iController for $58 million in a strategic move to enhance its European presence. The Belgium-based iController specializes in B2B solutions for collections management, boasting 566 European customers. This acquisition aligns with Billtrust's expansion strategy, aiming to broaden its customer base and improve cash flow management capabilities. iController will maintain operations in Ghent and Amsterdam, contributing to Billtrust’s global collections expertise.
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?
