Billtrust Expands Accounts Receivable and Integrated B2B Payments Capability with KONE Inc.
15 July 2021 - 10:00PM
Business Wire
Leading Accounts Receivable Platform Provider
Enables KONE Inc. to Drive Digital Transformation Both in U.S. and
Internationally
Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation
and integrated payments leader, announces KONE Inc., a leader in
the elevator and escalator industry, will now be using Billtrust’s
Invoicing platform and Business Payments Network (BPN) in Canada,
enabling the company to send more invoices electronically while
positioning them to accept digital payments through their preferred
channels.
A 2020 IDC SaaS Accounts Receivable Award recipient for customer
satisfaction, Billtrust was identified as the ideal solutions
provider to help KONE Inc. incorporate integrated payments best
practices while driving significant electronic payments adoption
and reducing paper check usage among its buyers.
“Expanding our relationship with Billtrust brings me confidence
that we are leveraging the most advanced cash flow acceleration
capabilities available,” said Ken Schmid, President and CEO, KONE
Americas. “There is great power and efficiency in a trusted,
single-platform provider across the order-to-cash process, and we
are thrilled to leverage the strong U.S. results we’ve had with
Billtrust in Canada.”
“We appreciate the opportunity to expand our relationship with
KONE while increasing our international presence,” said Steve
Pinado, Billtrust President. “We look forward to supporting both
their U.S. and Canadian teams as they continue their digital
transformation journey across the accounts receivable
spectrum.”
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on conventional processes that are outdated, inefficient, manual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 include, but are not limited to, statements regarding
the benefits and synergies that may be realized by Billtrust (“the
Company”) and KONE Inc. 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 KONE
Inc.’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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210715005012/en/
Media Meredith Simpson MSimpson@Billtrust.com
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