Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments provider, and Johnstone Supply, a cooperative wholesale distributor in the HVACR industry, recently announced a strategic collaboration that will “help their 90+ individual Johnstone Business Owners take control of the order-to-cash process.”
Billtrust has extensive experience “with wholesale distributors and was identified as the ideal solutions provider to help individual Johnstone locations take advantage of electronic invoicing and integrated payments through its cloud-based platform.”
Michael Chill, Chief Information Officer at Johnstone Supply, said:
“Billtrust can help our Business Owners get paid more quickly, maximize cash flow and grow their operations. We always seek to fulfill our ‘making it easier to do business’ mission by partnering with top solution providers like Billtrust to enable the world-class solutions they offer.”
Billtrust has a long history “working with individual Johnstone Supply locations, demonstrating success that ultimately led to the collaboration.”
With the help of Billtrust’s automated solutions, numerous Johnstone Supply Business Owners have already successfully “increased their digital footprint with their customers.” With an increase in electronic payment processing, Business Owners are able “to reduce costs, improve cash flow and provide a higher level of customer service.”
Steve Pinado, Billtrust President, remarked:
“Johnstone Supply’s Business Owners benefit from our industry-leading order-to-cash platform to automate their accounts receivable operations. We’re proud to partner with the Johnstone Supply team to maximize both electronic invoice presentment and digital payment acceptance with a focus on helping them reduce costs and meet the needs of their customers.”
As covered, Billtrust is a 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Accounts receivable is “broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based.”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 claims that it 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.”
Headquartered in Portland, Oregon, Johnstone Supply is “a North American HVACR brand with over $4B in annual sales generated by its 90+ Distributors operating over 440 independently owned store locations across the U.S. and Canada.”
The Johnstone Business Owners are “supported by six Regional Distribution Centers, offering access for its customers to over 75,000 Johnstone products and millions of special-order parts through its relationships with hundreds of the industry’s top manufacturers.”