Billtrust (NASDAQ: BTRS) has been recognized as a Leader in the IDC MarketScape for Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for 2020-2021. This recognition highlights Billtrust's commitment to innovation and customer satisfaction. In 2020, the company enhanced its machine learning capabilities and launched new innovations in its Business Payments Network. Billtrust also received the IDC’s SaaS Award for Accounts Receivable Customer Satisfaction, meeting or exceeding vendor averages in 18 key categories.
Billtrust's new Total Economic Impact™ study by Forrester Consulting highlights over $1.1 million in savings and a 390% ROI for a studied organization using their accounts receivable automation and integrated payments solutions within three years. The payback period was less than six months. Key savings included $422,000 from Billtrust Payments and $359,000 from Billtrust Cash Application. The organization also benefited from improved customer satisfaction, employee morale, and disaster readiness. Billtrust aims to simplify B2B commerce through cloud-based solutions.
Billtrust (NASDAQ: BTRS) announced the appointment of Greg Hanson as Chief Product Officer. He will lead product development and strategy, enhancing Billtrust's focus on B2B accounts receivable automation and integrated payments. Hanson’s expertise comes from his previous role as Senior VP of Product Development at PrecisionLender, bringing significant experience in product innovation. This leadership change aligns with Billtrust’s goal of improving cash flow solutions for its clients. The firm has also upgraded its Cash Application software and expanded its Business Payments Network to include ACH and wire transactions.
Billtrust completed its business combination with South Mountain Merger Corp. on January 12, 2021. The company will trade on Nasdaq under the ticker symbol BTRS starting January 13, 2021. This merger positions Billtrust, a leader in B2B accounts receivable automation, for enhanced growth and innovation in digitized payments. Comments from Flint Lane, Billtrust's CEO, highlight expectations for capital flexibility and customer service improvement. The merger is expected to accelerate Billtrust's capabilities in transforming the accounts receivable industry.
BTRS, a leader in B2B accounts receivable automation, will participate in the 23rd Annual Needham Virtual Growth Conference on January 14, 2021, at 10:00 AM ET. The management team will engage in a fireside chat to discuss the company's innovations and strategies. A live webcast and replay will be accessible on the investor relations website. BTRS focuses on streamlining B2B commerce through solutions like credit decisioning, online ordering, and payment processing, aiming to transform traditional accounts receivable practices.