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.”
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 Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based.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.