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 Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based.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