LAWRENCEVILLE, NJ and FARGO, ND – March 25, 2021 – Converting from paper-based invoicing to electronic improves businesses bottom lines. For Dakota Supply Group (DSG), a leading electrical, plumbing and HVAC distributor founded in 1898, a partnership with B2B accounts receivable software provider Billtrust (NASDAQ: BTRS) has resulted in considerable increases in electronic invoice delivery. Since the relationship began in early 2020, DSG, which uses Billtrust for invoicing and payments management, the two companies’ combined efforts have resulted in a sixfold increase in customers paying electronically through the DSG website portal.
Billtrust, a 2020 IDC SaaS Accounts Receivable Award recipient for customer satisfaction and whose customer base is composed of many of the nation’s largest distributors, has helped Dakota Supply Group better position themselves to embrace digital payments while giving them the ability to accept payments through their preferred channels.
"DSG is proud to partner with Billtrust to increase our ability to present invoices electronically and accept and process digital payments through our website,” said Julianne Turk, Chief Financial Officer at Dakota Supply Group. “Our business is built on relationships and creating mutual success, and that positive experience extends to how our customers receive and pay invoices. The automation that Billtrust enables positions us to better support our customers’ growth and offer a world-class customer experience.”
“Distributors like DSG are a key segment for Billtrust, and we are honored that they have chosen us to automate their accounts receivable operations,” said Steve Pinado, Billtrust President. “We have a long track record of helping large distributors like DSG digitize payments across their entire businesses for improved internal efficiencies, cash flow and payment accuracy.”
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 Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based.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 Dakota Supply Group
Since our founding in 1898—with roots dating back to 1868—Dakota Supply Group (DSG) has been dedicated to providing all the right connections to our customers in the electrical, plumbing, HVAC, refrigeration, communications, utility, automation, waterworks, and on-site sewer, water and well. We carry more than 65,000 products from the top brands, but that’s only the beginning. Our experienced team of specialists provides contractors with solutions that help them to maximize their productivity and increase their company’s profitability. DSG is a 100% employee-owned company with nearly 700 employee-owners in 36 locations across five states. Learn more at dsgsupply.com, Facebook and LinkedIn.
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 include, but are not limited to, statements regarding the benefits and synergies that may be realized by Billtrust (“the Company”) and Dakota Supply Group as a result of the partnership. 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. These forward-looking statements are subject to a number of risks and uncertainties, including Billtrust’s and Dakota Supply Group’s ability to realize the anticipated benefits and synergies of the partnership. 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.
Meredith Simpson[email protected]