PRINCETON, N.J., May 10, 2007 (PRIME NEWSWIRE) -- Billtrust, the leading provider of outsourced billing services, announces the selection of JPMorgan Chase to provide cash management solutions to increase its online bill presentment and payment capabilities.
Companies are turning to electronic payment processing to reduce the time between making a sale and collecting payment; commonly referred to as DSO (Days Sales Outstanding). With the support of JPMorgan Chase, Billtrust now offers a variety of online payment options for its clients that will increase efficiency throughout the payment collection process, improve cash flow and maximize profits.
"Our top priority is continuing to offer our customers best in class bill presentment and payment products to help them achieve their goals," said Flint Lane, CEO of Billtrust. "Our partnership with a world class organization like JPMorgan Chase will offer our customers state of the art security and improved payment velocity."
The demand for online billing services has accelerated with the use of Billtrust's payment products growing tenfold in the last two years alone. Advanced payment solutions are welcome news to thousands of wholesale distributors, service providers and utilities looking for new cost saving opportunities.
"Billtrust has a solid, existing business platform for billing services," said Charles Tamayo, senior middle market banker for JPMorgan Chase in New Jersey. "By supporting their business with our online bill payment and presentment capabilities, they now have an advanced range of services to provide for their customers."
Billtrust's Online Billing, Invoice Gateway(tm), and CustomerCare products directly relate to electronic delivery and payment. The upgraded versions allow companies, whether B2B or B2C, to offer their customers the ability to easily view, sort, download, and pay bills via the web, avoiding the use of paper all together.
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.
About JPMorgan Chase Treasury Services
The Treasury Services (www.jpmorganchase.com/ts) business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, JPMorgan Chase Treasury Services is one of the world's largest providers of treasury management services.