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BTRS Holdings Inc. (BTRSW)

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Previous Close5.03
Open5.23
Bid4.69 x 1000
Ask7.05 x 800
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52 Week Range5.08 - 5.23
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  • GlobeNewswire

    Independent Research Firm Finds 390% ROI with Billtrust B2B Accounts Receivable Automation and Integrated Payments

    Total Economic Impact™ Study Shows Deploying Billtrust Integrated Payments Solutions Resulted in Studied Organization’s $1.1 Million+ Three-Year Savings and Less-than-Six-Month Payback PeriodLAWRENCEVILLE, N.J., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, has released a new commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Billtrust, quantifying the benefits of Billtrust’s accounts receivable (AR) automation with integrated B2B payments. The Forrester study found that the studied organization realized an ROI of 390% over three years and over $1.1 million in cost savings resulting in a payback period of less than six months. In addition, other significant benefits were realized such as improved customer experience and employee morale, a reduction in write-downs and increased digitization and disaster readiness. The study is available for download here. “Our solutions are mission critical and provide quantifiable value for companies to accelerate cash flow, improve customer experience and enable business continuity and scale efficiency,” said Steve Pinado, Billtrust President. “We are pleased that Forrester, using their TEI methodology, confirmed, in our opinion, how our AR automation and integrated payments solutions can create such powerful results for organizations." Forrester found that the studied organization experienced the following risk-adjusted present value (PV) quantified benefits over three years: Projected $422,000 savings with Billtrust Payments. The organization deploys Billtrust Payments, enabling them to accept their customers’ preferred payment types such as ACH, credit card and wires. Transitioning customers from check to ACH drastically reduces the average cost of collections, and by collecting and reporting robust data to credit card processors, the organization recognized significant interchange optimization discounts.Saved $359,000 with Billtrust Cash Application. The organization drastically reduced the time and effort required to match payments with remittance information, applying the various types of incoming payments to the correct underlying purchase activity and customer. With Billtrust, the organization achieved 80% straight through processing of cash application activities, allowing the firm to reduce required headcount for the operation by 50%.Saved $322,000 with Billtrust Invoicing. Billtrust enabled the organization to transition invoices from print to digital thereby eliminating printing, labor and postage costs, an e-invoice costs 88% less to send, on average.Projected $46,000 savings in days sales outstanding (DSO) and bad debt. Having an electronic and efficiently managed payment collections process enabled the organization to reduce the average DSO of receivables, freeing up capital that can be allocated to other business functions. Additionally, by lowering the average amount of open receivables, the organization reduces the overall amount of bad debt. The interviewed organization also reported the following benefits: Improved customer experience and satisfaction. The organization improved customer satisfaction by offering the payment types they preferred. By digitizing and automating AR processes with Billtrust, the organization also improved the speed and accuracy of invoicing.Improved employee morale. While some employees were made redundant, the remaining employees were able to move from repetitive tasks to more business-critical work.Reduction in write-downs. With Billtrust, the organization has better documentation and visibility into outstanding payments. The ability to quickly send electronic invoices reduces the likelihood of lost or forgotten bills, which could lead to collection issues and write-downs.Increased digitalization. Continuing digitalization with Billtrust enables the organization to enjoy additional future savings by reducing spend on physical invoices and streamlining processes.Increased disaster readiness. Billtrust’s automated AR reduced dependency on in-house mailing and printing, and alternate payment channels can provide new cash flow and stability during crises. According to the organization’s vice president of finance, “The decision to go with Billtrust was a simple way to enhance our productivity and streamline the posting of payments. We have recently expanded our commitment to our customers allowing them to pay online and enhancing, once again, our ability to post payments and reconcile accounts faster.” The Total Economic Impact™ (TEI) is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify and realize the tangible value of IT initiatives to both senior management and other key business stakeholders. 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 StatementsThis 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. CONTACT: Paul Accardo Senior Marketing Communications Manager paccardo@billtrust.com

  • Billtrust Announces Greg Hanson as Chief Product Officer Amidst  Ongoing Commitment to B2B Accounts Receivable and Integrated Payments Innovation
    GlobeNewswire

    Billtrust Announces Greg Hanson as Chief Product Officer Amidst Ongoing Commitment to B2B Accounts Receivable and Integrated Payments Innovation

    Experienced Product Development Executive Joins Leading B2B Integrated Payments Firm Greg Hanson Greg Hanson has been named Billtrust's Chief Product Officer. LAWRENCEVILLE, N.J., Jan. 21, 2021 (GLOBE NEWSWIRE) -- Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated B2B payments leader, has announced that Greg Hanson has joined the company as Chief Product Officer. Hanson will drive product development, design, delivery and roadmap strategy. Hanson joins Billtrust amidst its ongoing commitment to world-class B2B accounts receivable automation with integrated payments capabilities, having recently upgraded its Cash Application software’s advanced machine learning capability and expanded its Business Payments Network (BPN) by adding support for ACH and wire transactions. "Greg’s track record and expertise will help us develop and bring products to market more quickly and with even greater innovation as we continue to lead the drive towards digitized, integrated B2B payments,” said Flint Lane, Billtrust Founder & CEO. “Greg’s leadership will be welcomed throughout Billtrust, and I’m pleased he is joining our leadership team.” “Companies are under intense pressure to get paid faster, improve cash flow and digitize payments,” said Hanson. “I’m excited to join Billtrust, understand our customers’ needs and deliver them best-in-class integrated payments solutions.” Prior to joining Billtrust, Greg was Senior Vice President of Product Development for PrecisionLender at Q2, a leading SaaS platform for commercial loan pricing, profitability and portfolio insights. Before that, he was the Chief Product Officer for The Gordian Group, a construction software, data and services company. He has also led product development efforts for Tree.com, RealEstate.com, GuildQuality and Bullhorn. Greg has a bachelor's of arts degree in physics with high honors from Middlebury College. He earned dual master's degrees in architecture and structural engineering from the University of Michigan where he was recognized with the Chair's Cup for interdisciplinary research. 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 StatementsThis 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. Contact:Paul AccardoSenior Marketing Communications Managerpaccardo@billtrust.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de5bd8fb-0070-4f7d-826e-c91f56e34903

  • GlobeNewswire

    Billtrust and South Mountain Merger Corp. Announce Closing of Business Combination

    Billtrust to Trade on Nasdaq Under the Symbol “BTRS”NEW YORK, PHILADELPHIA and LAWRENCEVILLE, N.J., Jan. 12, 2021 (GLOBE NEWSWIRE) -- BTRS Holdings Inc. (“Billtrust”), a B2B accounts receivable automation and integrated B2B payments leader, and South Mountain Merger Corp. (“South Mountain”), a special purpose acquisition company, announced today the completion of their previously announced business combination. The business combination was approved by South Mountain’s stockholders on January 12, 2021. Upon completion of the business combination, South Mountain changed its name to “BTRS Holdings Inc.,” and its Class 1 common stock and warrants are expected to begin trading on the Nasdaq Global Select Market and the Nasdaq Capital Market under the symbols “BTRS” and “BTRSW,” respectively, commencing January 13, 2021.Flint Lane, Founder and CEO of Billtrust, commented, “We are incredibly excited to partner with our new board of directors and investors as we continue to lead the drive towards digitized, integrated B2B payments. The accounts receivable industry is ripe for innovation, and we believe being a public company better positions us to serve our customers while offering significant capital flexibility for continued growth, both organic and inorganic.”Chuck Bernicker, CEO of South Mountain, said, “We are pleased to complete the combination and look forward to partnering with Flint and the Billtrust team as they seek to transform B2B commerce. Our team believes that management has built an extraordinary business and we’re excited to support them along their public market journey."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, cash application and collections. For more information, visit Billtrust.com.About South Mountain Merger Corp. South Mountain Merger Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses.Forward-Looking StatementsThis press release includes 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. Forward-looking statements generally are accompanied by words such as “believe,” “may,” ”could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “target,” “goal,” “expect,” “should,” “would,” “plan,” “predict,” “project,” “forecast,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the capabilities and benefits to customers of Billtrust’s technology platform, Billtrust’s ability to scale and grow its business and Billtrust’s ability to digitally transform the AR industry. These statements are based on various assumptions and on the current expectations of South Mountain’s and Billtrust’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and 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 South Mountain and Billtrust. These forward looking statements are subject to a number of risks and uncertainties, including Billtrust’s ability to attract and retain customers and expand customers’ use of Billtrust’s products or services; market, financial, political and legal conditions; the impact of the COVID-19 pandemic on Billtrust’s business and the global economy; failure to realize the anticipated benefits of the proposed business combination; risks related to future market adoption of Billtrust's offerings; risks related to Billtrust's market strategy and subscription business model; the effects of competition on Billtrust’s future business; and those factors discussed in the definitive proxy statement/consent solicitation statement/prospectus filed by South Mountain with the U.S. Securities and Exchange Commission (“SEC”) on December 22, 2020 under the heading “Risk Factors,” and other documents that Billtrust files with the SEC in the future. 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 South Mountain and Billtrust presently do 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 South Mountain’s and Billtrust’s expectations, plans or forecasts of future events and views as of the date of this press release. South Mountain and Billtrust anticipate that subsequent events and developments will cause their assessments to change. However, while South Mountain and Billtrust may elect to update these forward-looking statements at some point in the future, South Mountain and Billtrust specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing South Mountain’s or Billtrust’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.Investor Contact: BilltrustIR@icrinc.comMedia Contact: Meredith Simpson msimpson@billtrust.com