Billtrust Reports Record Growth in 2009
Continued client expansion, new markets, and new products fuel their growth
(PRWEB) January 12, 2010 – Billtrust, the leading provider of outsourced billing services, announced record results in 2009 with the company achieving revenue growth of 70%. Over 450 companies are now using Billtrust’s services for the processing and delivery of their bills. Prestigious companies including Chiquita Brands, Toshiba America Information Systems, New Balance, Tech Data Corporation and WESCO Distribution, Inc. are now a part of Billtrust’s client roster.
Billtrust’s CompleteBilling service includes everything from the design of the bill, to the delivery to the end user. As part of their services, bills are delivered to recipients via different channels including US Mail, Email, Fax, and Online. Further, Billtrust’s advanced architecture accepts billing data from any accounting system. A company simply sends Billtrust the billing data for processing.
In 2009, the volume of bills processed by Billtrust grew 71%, with an increase of 92% in the number of bills delivered through electronic channels. The strong growth in electronic billing is driven by Billtrust’s industry leading e-Adoption program that helps its customers drive conversion among their bill recipients. Further, the usage of Billtrust’s Invoice Gateway (EIPP) and Online Billing (EBPP) solutions grew significantly with the number of payments made online increasing by over 100%.
“In a difficult economy, businesses are under enormous pressure to find real cost savings initiatives”, said Flint Lane, Billtrust’s CEO. “These results clearly show that the market recognizes CompleteBilling as a perfect complement to their accounts receivable department.” The year was marked by significant advancements in Billtrust’s suite of paper and electronic delivery services.
Billtrust expanded their print and mail facilities to six strategic locations in North America with the addition of California and Canada facilities. This allows Billtrust clients with a geographically dispersed customer base to have their bills sent from the location closest to the bill recipient, thus reducing mail times and accelerating payments. Billtrust also released new versions of their advanced web based tools including Invoice Gateway, Online Billing, and CustomerCare; and introduced new offerings CompletePayment and eLockbox.
“The most important recognition we receive is from our customers who continually rank the value and quality of our services extremely high,” said Mitch Rose, Billtrust VP of Marketing. “It is also rewarding for our company to have been recognized by many other groups including being placed on the Deloitte Technology Fast 500.” Along with the recognition by Deloitte, other awards received by Billtrust this past year include:
• For the third consecutive year, Billtrust placed on the Inc 5000 list as one of the fastest growing private companies in America.
• NJBIZ recognized Billtrust with the Green Leadership Award for their environmental achievements and initiatives. • The New Jersey Technology Council recognized Billtrust as a Finalist for Growth Company of the year.
• Billtrust received the Great Green Business Award from Plant a Tree USA™ for their success in moving companies to paperless billing
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. For more information, visit Billtrust.com.