PRINCETON, N.J., Feb. 6, 2007 (PRIME NEWSWIRE) -- Billtrust, the leading provider of outsource billing services, reports a significant increase in the number of companies outsourcing the billing function. They are also reporting triple-digit growth in the use of electronic billing delivery and payment programs.
Below are key statistics released by Billtrust for 2006:
* Total number of bills processed in 2006 increased +55%.
* The number of bills delivered electronically grew +156% in 2006.
* Total electronic payments increased +153% in 2006.
"The advantages of outsourcing our billing have been a no brainer," said Steven Helle, President and COO of Granite City Electric. "In 2006 we quadrupled the volume of bills we deliver electronically."
"Companies are aggressively seeking productivity solutions to help send more dollars to the bottom line. Billtrust's CompleteBilling solution combines the opportunities for electronic distribution and payment with the more traditional billing methods of paper and fax," said Flint Lane, CEO of Billtrust. "I am proud that Billtrust products have delivered millions of dollars in savings to our customers."
Herb Bloom, Corporate Credit Manager for Maurice Electrical Supply, has sold many customers on the advantages of email billing; 46% of their customers have opted for electronic bill delivery. According to Herb, "Email billing is absolutely the way to go. Once a customer sees how good the email billing is, they love it Everyone who tries it, stays with it. Nobody wants to go back to mailed bills."
Billtrust recently moved into a new state of the art facility and expanded their operations and service team to meet the market growth. After significant R&D investment, upgrades to their Online Billing and Invoice Gateway products, both directly related to electronic delivery and payment, will be released in the first quarter of 2007.
About Billtrust
Headquartered in Jamesburg, NJ, Billtrust is a leader in outsourced billing solutions. The company's flagship product and service suite, called CompleteBilling, consists of paper, fax and e-mail billing as well Invoice Gateway, a hosted web billing and payment service. In addition, the company provides expert bill design, in-bill marketing services, and an integrated online customer service tool called CustomerCare. These comprehensive tools automate the billing process, enabling businesses to save money, increase productivity, improve cash flow, and seamlessly migrate to electronic delivery. More than 200 companies nationwide rely on Billtrust for their billing needs. For more information, visit Billtrust online at www.billtrust.com.