DEVNET and InvoiceCloud Offer New Integrated Solution to Transform the Digital Payment Experience for Tax Organizations and Their Constituents

Rhea-AI Summary

DEVNET and InvoiceCloud, a solution of EngageSmart (NYSE: ESMT), launched an integrated system for digital tax payments, addressing the growing demand for modern payment solutions. An InvoiceCloud survey found that 50% of respondents are more inclined to make digital payments post-COVID-19. This collaboration allows tax organizations to offer various payment methods, including digital wallets and PayPal, while automating processes for efficiency. Currently operational in Illinois, Missouri, and North Carolina, the initiative aims for broader deployment across multiple states, enhancing taxpayer engagement and reducing costs for local governments.

Positive

• Launch of integrated digital tax payment solution with InvoiceCloud.
• Potential for improved customer engagement and operational efficiencies.
• Current deployment in Illinois, Missouri, and North Carolina, with plans for expansion.

Negative

• None.

SYCAMORE, Ill. & BOSTON--(BUSINESS WIRE)-- DEVNET, a leading tax core software provider, and InvoiceCloud, an EngageSmart (NYSE: ESMT) solution for online bill payment services, are now offering an integrated solution for digital tax payments. According to an InvoiceCloud survey conducted in October of 2022, 50% of bill payers surveyed indicated that since the start of the COVID-19 pandemic they are now more likely to make a digital payment than they were pre-pandemic. In order to keep up with evolving taxpayer preferences and expectations, treasurers and tax collection offices must provide more modern, easy-to-use digital payments and billing experiences.

With DEVNET and InvoiceCloud’s new integrated offering, taxpayers can now pay bills via convenient methods such as digital wallets, PayPal, Venmo, AutoPay, Pay by Text and Pay by Phone, in addition to traditional bill payment routes. And by automating processes and driving self-service, paperless billing, and on-time payments, constituents and tax collection staff can both benefit from a more intuitive and delightful digital experience that can help tax organizations save time and money.

“Offering our customers more streamlined solutions has and will always be our primary focus,” said Brandon McPherson, DEVNET’s Vice President of Business Development. “By aligning ourselves with an organization like InvoiceCloud that has a shared customer-centric, tech-first and forward-thinking approach, we’re confident that this new integrated solution will enable local governments to better streamline operations, create more efficiencies and optimize business opportunities.”

“The need to digitize is pressing. Together with DEVNET, we are continuing to reimagine how the billing and payment journey can be leveraged to drive higher constituent digital engagement while reducing organizational costs,” said InvoiceCloud Vice President, Alliances and Business Development, Paul Applegate. “We are thrilled with the successes our customers are already experiencing and will continue to listen to the tax organizations we serve to address industry demands.”

DEVNET and InvoiceCloud’s integrated solution is currently live for tax organizations located in Illinois, Missouri, and North Carolina. DEVNET and InvoiceCloud are also currently aiming to expand the reach of their integrated service offering to serve county tax offices in Iowa, Michigan, Nevada, Ohio, Pennsylvania, South Dakota, Virginia, and Wisconsin. Learn more about the integrated solution here.

About DEVNET

DEVNET offers 25 years of industry knowledge and installations throughout the United States. DEVNET solutions integrate Land Records Management solutions for CAMA, Assessment, Billing, Collection, Permitting, Records Management, and e-government activities. DEVNET solutions embed web GIS throughout the entire product line, bringing visualization and analytical views to customer data. We are focused on strong partnerships and lasting relationships with our clients.

About InvoiceCloud:

InvoiceCloud, an EngageSmart solution, is a leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping institutions put customer experience first. By switching to InvoiceCloud, clients can improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. To learn more, visit www.InvoiceCloud.com.

About EngageSmart:

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of September 30, 2022, EngageSmart serves 94,500 customers in the SMB Solutions segment and 3,300 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

Forward-Looking Statements

Certain statements about EngageSmart’s business in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “expect,” “intend,” “anticipate,” “estimate,” “believe,” “future,” “could,” “should,” “plan,” “aim,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits and use of the InvoiceCloud platform and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results and events to differ materially from those contained in the forward-looking statements. Actual results and events could differ materially from those anticipated in these forward-looking statements for many reasons, including, but not limited to, the following: our inability to sustain our rapid growth; failure to manage our infrastructure to support our future growth; our risk management efforts not being effective to prevent fraudulent activities; inability to introduce new features or services successfully or to enhance our solutions; inability to achieve or sustain profitability; failure to adapt and respond effectively to rapidly changing technology, evolving industry standards and regulations and changing business needs, requirements or preferences; real or perceived errors, failures or bugs in our solutions; intense competition; lack of success in establishing, growing or maintaining strategic partnerships; COVID-19 pandemic and its impact on our employees, customers, partners, clients and other key stakeholders; legal and regulatory risks; and technology and intellectual property-related risks, among others. Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect EngageSmart’s operating results and financial condition are discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021 and our Form 10-Q for the quarter ended September 30, 2022, as updated by our future filings with the Securities and Exchange Commission. Such statements are based on EngageSmart’s beliefs and assumptions and on information currently available to EngageSmart. EngageSmart disclaims any obligation to publicly update or revise any such forward-looking statements as a result of developments occurring after the date of this document except as required by law.

Disclosure

We disclose information to the public concerning EngageSmart, EngageSmart’s products and services, and other items through a variety of disclosure channels in order to achieve broad, non-exclusionary distribution of information to the public. Some of the information distributed through these disclosure channels may be considered material information. Investors and others are encouraged to review the information we make public in the locations below.* This list may be updated from time to time.

*For information concerning EngageSmart and its products and services, please visit: www.engagesmart.com

*For information provided to the investment community, including news releases, events and presentations, and SEC filings, please visit: investors.engagesmart.com/overview/default.aspx

*For information provided to the media, including news releases, please visit: investors.engagesmart.com/news/default.aspx

*For additional information, please follow EngageSmart’s social media accounts: www.twitter.com/engagesmartinc, www.facebook.com/EngageSmartInc, and www.linkedin.com/company/engagesmart

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005211/en/

Media:

Katie Jacobs

Quarter Horse PR

invoicecloud@qh-pr.com

Investor Relations:

Josh Schmidt

EngageSmart, Inc.

IR@engagesmart.com

Source: EngageSmart

FAQ

What is the new service launched by EngageSmart (NYSE: ESMT)?

EngageSmart, through DEVNET and InvoiceCloud, launched an integrated solution for digital tax payments.

How does the new solution improve taxpayer engagement for ESMT?

The solution offers various payment methods like digital wallets and PayPal, enhancing ease of use for taxpayers.

What survey findings support the launch of ESMT's new payment solution?

An InvoiceCloud survey revealed that 50% of bill payers are more likely to make digital payments since the COVID-19 pandemic.

In which states is EngageSmart's digital payment solution currently operational?

The integrated solution is live in Illinois, Missouri, and North Carolina.

What future plans does EngageSmart have for its payment solution?

EngageSmart plans to expand the integrated service offering to additional states, including Iowa, Michigan, and others.