BILLTRUST CLIENT PUMA WINS HUNTINGTON BANK ACCOUNTS RECEIVABLE INNOVATION AWARD
Award Underscores Firm’s Ability to Drive Business Value in Billing Process
Jamesburg, New Jersey, May 19, 2011 – Billtrust, the leading outsourced billing provider, today announced that its client, PUMA North America, won the 2011 Huntington Bank Accounts Receivable Innovation award at Fusion 2011, the annual conference of the Institute of Financial Operations (IFO).
PUMA, which outsources its billing function to Billtrust, was recognized for its “creative use of technology to produce more efficient results in its accounts receivable department.” In 2010, PUMA was managing the bill delivery process in-house. The Accounts Receivable team at PUMA faced many challenges relating to billing, including high costs, slow mail times, customer confusion and internal productivity. By outsourcing to Billtrust, PUMA transformed its billing process into a highly efficient, advanced business function that reduced its billing costs and improved cash flow.
PUMA also enhanced its overall customer experience. Instead of shipping bills from one centralized location, PUMA used Billtrust’s 7 North American distribution centers to cut paper bill delivery times by an average of two days. A bill redesign by Billtrust made bills easier to read and understand, leading to a decrease in customer complaints to PUMA’s accounts receivable team. “We are excited to be honored with this award, but the real measure of our success is the business value we’ve been able to drive through our billing,” said Puma’s Senior Manager of Credit and Accounts Receivable Brian Good.
“By working with Billtrust we became more efficient and our internal team was able to devote its attention toward other critical initiatives.” “PUMA is a perfect example of the business value that can be achieved through billing,” said Billtrust CEO Flint Lane. “We are proud of the results PUMA has realized.” Billtrust’s services are being used by businesses across industry sectors and geographies to apply proven billing technology to achieve what the company refers to as Billing Wellness. This award further validates Billtrust’s position as the leader in the billing outsourcing sector.
Headquartered in Hamilton New Jersey, Billtrust is the premier provider of automated invoice-to-cash solutions. Billtrust integrates three key areas of the invoice-to-cash process: presentment, payment, and cash application, helping its clients connect with their customers and cash while strengthening their revenue and cash flow. Working with more than 1,200 North American businesses across B2B and B2C markets, Billtrust’s comprehensive offerings help its clients solidify customer relationships, increase productivity, improve cash flow, and seamlessly migrate to electronic channels.