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Billtrust Named a Leader in the IDC MarketScape for Accounts Receivable Automation Software for Enterprise

LAWRENCEVILLE, NJ – February 9, 2021 – Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for Enterprise 2020-2021 Vendor Assessment (doc # US46791520 , December 2020). Billtrust has made the report excerpt available for download. 

“We’re pleased to be recognized as a Leader by the IDC MarketScape which is emblematic of our organizational commitment to innovation, digital transformation and world-class customer outcomes,” said Steve Pinado, Billtrust President. “With an incredible list of accomplishments in 2020 including upgraded advanced machine learning and new Business Payments Network innovations furthering our ability to digitize B2B payments, we are proud to have delivered an even more complete automation and integrated payments solution to support our customers through the pandemic.”

“Billtrust should be proud to be named a Leader in the Accounts Receivable Automation for Enterprise category,” said Kevin Permenter, Research Manager, Enterprise Applications at IDC. “Businesses of all sizes have turned their focus toward the most fundamental aspects of business — cash management and working capital. As a result, accounts receivable software, especially SaaS software, has been highlighted as a place to get a quick return from digital transformation, automation and integrated B2B payments.” 

The IDC MarketScape evaluates a broad set of SaaS and cloud-enabled accounts receivable automation software vendors based on innovation, functionality, range of services, customer satisfaction, cloud capabilities and architecture.

In addition to the IDC MarketScape designation, Billtrust recently won IDC’s SaaS Award for Accounts Receivable Award Customer Satisfaction, placing in the highest scoring group of vendors serving the SaaS Accounts Receivable application market. Billtrust met or exceeded accounts receivable vendor average ratings in 18 key categories related to product usage, implementation and vendor capabilities.

About Billtrust 

Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company’s filings with the SEC, including those under the header “Risk Factors” in the Registration Statement on Form S-4 filed with the SEC by South Mountain Merger Corp. on October 26, 2020, as amended. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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