Billtrust Summit 2021 Award Winners Announced

LAWRENCEVILLE, NJ – June 2, 2021 – Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, announced that KONE Inc., Gregory Poole Equipment and Global Industrial were recognized as Billtrust Rockstars of the Year, and Commerce Bank as Partner of the Year, during the Billtrust Summit Awards Ceremony held May 20, 2021. ASICS, Design Air, Papé and H&E Equipment Service were also honored. Billtrust Summit 2021 is the AR and integrated payments industry’s largest conference. 

The Billtrust Rockstar of the Year Award recognizes Billtrust clients as leaders that have made significant achievements in digitally transforming their accounts receivable and order-to-cash processes. The inaugural Partner of the Year designation is awarded to the company that generates significant business impact and measurable results for both themselves and their customers. 

“Billtrust exists to serve its customers and its expanding partner network, which is key to driving our growth,” said Steve Pinado, Billtrust President. “We are extremely proud and honored to recognize these customers who are rapidly advancing their accounts receivable and digital transformation journeys.”

KONE Inc., a Billtrust Rockstar of the Year recipient and a global leader in the elevator and escalator industry, automated with Billtrust’s Invoicing and Payments solutions, enabling them to send more invoices electronically into accounts payable portals and positioned them to accept digital payments through their preferred channels.

Gregory Poole Equipment Company, a Billtrust Rockstar of the Year recipient and major dealer of Cat® construction equipment and Hyster and Yale lift trucks, achieved significant cost savings over a three-year period by incorporating Billtrust’s Cash Application and Payments solutions. The savings was achieved by eliminating bank keying fees, reallocating labor, reducing DSO and achieving lower credit card fees.

Billtrust Rockstar of the Year recipient, Global Industrial, a leading North American distributor of industrial equipment and supplies, achieved considerable cost savings with Billtrust’s Cash Application, lowering their annual bank lockbox keying costs. In addition, by optimizing payments, they reduced their Effective Interchange Rate through Level 3 optimization. They were also able to successfully reallocate FTE hours that were involved in managing manual cash application and virtual card processing efforts.

Commerce Bank, Billtrust’s inaugural Partner of the Year, demonstrated mastery by establishing new relationships quickly and efficiently while embracing the joint-value proposition and identifying a strong go-to-market strategy. Commerce Bank’s issuing and acquiring teams had outstanding results as a Business Payments Network (BPN) Reseller, enabling both buyers and suppliers to streamline B2B payments.

Other Billtrust Award recipients include:

• Customer Experience Improvement Award – H&E Equipment Services
• Digital Invoicing & Payments Award – ASICS
• eCommerce Optimization Award – Design Air
• Optimizing Credit & Collections Award – Papé 

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.

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.