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Electronic Billing Shows Rapid Growth

Billtrust, Jamesburg, N.J., a provider of outsourced billing services, says it is seeing a significant increase in the number of companies outsourcing their billing functions, and particularly in the use of electronic billing delivery and payment programs, which have grown at triple-digit rates.

The company said its total number of bills processed in 2006 increased 55 percent; the number of bills delivered electronically grew 156 percent and total electronic payments increased 153 percent.

“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.”

Billtrust currently works with over 70 distribution companies, including 16 of the top 100 electrical distributors across the country. “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.

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