US LBM Chooses Billtrust to Provide Enterprise-Wide Automated Accounts Receivable Capabilities
12 October 2022 - 11:00PM
Business Wire
Specialty Building Materials Distributor Adopts
Billtrust Solutions for its 56 U.S. Divisions
Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation
and integrated payments leader, announced today that US LBM, the
largest privately owned, full-line distributor of specialty
building materials in the U.S., has chosen Billtrust as its
enterprise-wide accounts receivable platform. By standardizing
their automated accounts receivable capability with Billtrust, US
LBM can grow electronic payments and maximize cash flow while
optimizing the order-to-cash process.
Leveraging Billtrust Credit, Invoicing and Payments and Cash
Application solutions, US LBM’s more than 400 locations nationwide
are now able to provide B2B buyers with more digital payment
options and an enhanced customer experience.
“Many of our local divisions have already seen AR automation
success with Billtrust, and expanding our collaboration supports
our growth strategy while driving substantial operating efficiency
and improved cash flow,” said US LBM Executive Vice President and
CFO Pat McGuiness. “Billtrust offers us an integrated solution
which scales and standardizes our processes across the organization
while supporting electronic invoicing and payments.”
“We are proud and thankful for the trust and belief that US LBM
has in Billtrust,” said Steve Pinado, Billtrust President. “This
enterprise-wide collaboration will enable US LBM to centralize
their digital transformation efforts and support strategic
growth.”
About Billtrust
Billtrust 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conventional processes that are outdated, inefficient, manual and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 US LBM
US LBM is the largest privately owned, full-line distributor of
specialty building materials in the United States. Offering a
comprehensive portfolio of specialty products, including windows,
doors, millwork, wallboard, roofing, siding, engineered components
and cabinetry, US LBM combines the scale and operational advantages
of a national platform with a local go-to-market strategy through
its national network of locations across the country. For more
information, please visit uslbm.com or follow US LBM on
LinkedIn.
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 US LBM as a result of the collaboration. These
forward-looking statements are subject to a number of risks and
uncertainties, including our ability to integrate with customers’
and partners’ application programming interfaces for their billing
and payment systems and with third-party technologies; our ability
to develop partnerships with financial institutions, third-party
service providers, processing providers and other financial
services suppliers; our ability to implement services provided by
us or our partners; our ability to adapt and respond effectively to
rapidly changing technology, evolving industry standards, changing
regulations and payment methods, demand for product enhancements,
new product features, and changing business needs, requirements or
preferences and the risks discussed in Billtrust’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2021 filed with
the Securities and Exchange Commission (“SEC”) on March 9, 2022,
under the heading “Risk Factors” and other documents of Billtrust
filed, or to be filed, with the SEC, including Billtrust’s
Quarterly Report on Form 10-Q for the quarter ended June 30, 2022
filed with the SEC on August 9, 2022. If any of these risks
materialize or any of Billtrust’s assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements. There may be additional risks
that Billtrust presently does not know of or that Billtrust
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect
Billtrust’s expectations and views as of the date of this press
release. While Billtrust may elect to update these forward-looking
statements at some point in the future, Billtrust specifically
disclaims any obligation to do so other than to the extent required
by applicable law. 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/20221012005219/en/
Investors John T. Williams IR@billtrust.com
Media Paul Accardo PR@billtrust.com
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