(MENAFN - PR Newswire) LAWRENCEVILLE, N.J., June 10, 2019 /PRNewswire/ -- Billtrust, the leader in B2B order-to-cash solutions, announced today that the company was named the winner of a Gold Stevie® Award in the Business Technology - Payments Solution category in The 17th Annual American Business Awards®.
The American Business Awards are the U.S.A.'s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.
More than 3,800 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories. Billtrust was nominated in the New Product category for Business Technology - Payments Solution. The company won for its Business Payments Network (BPN).
In November 2018, Billtrust and Visa announced their collaboration on Billtrust's BPN which is designed to streamline the delivery of electronic B2B payments to suppliers. As a unique supplier-driven B2B payments network, BPN provides a transparent registry of suppliers who accept digital payments, giving buyers and financial institutions the necessary access to automate what has historically been a complex process.
To date, Billtrust has automated over $1 billion in payments originating from payable providers now participating in BPN. Traditionally routed through email, automating these payments has eliminated almost 36,000 hours of manual data entry, processing and invoice matching against suppliers' outstanding invoices.
"Getting paid quickly and painlessly is Billtrust's talent," said one judge. "This sounds like a great way to support businesses and revolutionize payments, irrespective of the size of the business," said another judge. "Especially while maintaining the privacy of payments and providing the payment preferences of each vendor and supplier."
"We are thrilled that Billtrust's BPN has been recognized and awarded a Gold Stevie from The American Business Awards," said Flint Lane, CEO of Billtrust. "Since Billtrust launched BPN in late 2018, we have experienced great momentum. In collaboration with Visa, we are excited to offer financial institutions and buyers the benefits of BPN. As BPN continues to provide the ability to deliver digital payments directly to the supplier's acceptance platforms, we expect to see further shifts in the way businesses pay and get paid."
"The nominations submitted to The 2019 American Business Awards were outstanding. They illustrate the continued vibrancy of innovation and high level of achievement across the American economic landscape," said Michael Gallagher, president and founder of the Stevie Awards.
Nicknamed the Stevies for the Greek word meaning "crowned," the awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Tuesday, June 11.Tickets are now on sale . Additional details about The American Business Awards and the list of 2019 Stevie winners are available atwww.StevieAwards.com/ABA .
About BilltrustBilltrust accelerates cash flow by automating credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections. Billtrust customers improve operational efficiency across the credit-to-cash spectrum via a flexible and integrated cloud-based solution set. Finance executives and A/R specialists love and recommend Billtrust for the remarkable cost savings, ease-of-use, process efficiency, and improved customer satisfaction rates. For more information, visit,www.Billtrust.com .
About the Stevie AwardsStevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards athttp://www.StevieAwards.com .
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