PepsiCo Uses Billtrust’s Automated Credit Application Solution to Launch Distribution of Hard Mountain Dew | News
LAWRENCEVILLE, NJ–(BUSINESS WIRE)–May 12, 2022–
Billtrust (NASDAQ: BTRS), a leader in B2B customer account automation and integrated payments, today announced that PepsiCo has successfully deployed its automated credit application solution to support the distribution of HARD MTN DEW, a new alcoholic beverage from Mountain Dew. For distribution, Blue Cloud Distribution, Inc. (BCD), a wholly owned subsidiary of PepsiCo, needed to quickly set up a credit solution, where legal, to onboard hundreds of new channel partners and meet the increasing demand for credit while complying with different states. terms.
By implementing Billtrust’s credit application solution, BCD now maximizes customer satisfaction, eliminates paper usage, and achieves 99% of credit application approvals within a day of submission. BCD uses Billtrust’s credit application to support other business units.
“We already process between seven and ten thousand new customers each year with Billtrust Credit Application, but stepping into a new business presented our team with a whole new set of challenges,” said Mike Bevilacqua, senior manager, Credit and Collections, PepsiCo. “We worked hand-in-hand with the Billtrust team to address the complexities of multiple state requirements, each with different terms, and were able to quickly create an entirely new division in a short period of time. “
Prior to the implementation of Billtrust Credit Application, BCD’s pain points included a lack of communication between their sales and client account teams regarding the status of the credit application, as well as expenses related to the use of at least 40,000 sheets of paper per year. With Billtrust, BCD is able to use a dashboard for complete visibility into the status of credit applications, can automatically collect bank references and office data to reduce the time between client application and credit approval and make an environmental impact with a paperless process.
“We are thrilled to help the Blue Cloud Distribution team navigate through an exciting initiative and help them achieve world-class results,” said Steve Pinado, President of Billtrust. “With the tools to predict both short-term customer payment behavior and long-term business viability, BCD’s credit managers have the ability to quickly and accurately make credit decisions that will help their business thrive.”
Bevilacqua expects Billtrust to continue to help BCD achieve measurable results with client onboarding. “The great thing about Billtrust is their honesty — they do what they say they’re going to do, while listening to you and working with you,” Bevilacqua said. “For me, those are the things that are intrinsic to a long-term relationship.”
About Bill Trust
Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts Receivable is broken and relies on outdated, inefficient, manual and largely paper-based conventional processes. Billtrust is at the forefront of augmented reality digital transformation, providing mission-critical solutions that cover credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.
This press release contains certain statements that are not historical facts, but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the benefits and synergies likely to be realized by Billtrust (“the Company”) and BCD as a result of the partnership. These forward-looking statements are not intended to serve, and should not be relied upon by, any investor as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the Company’s control. These forward-looking statements are subject to a number of risks and uncertainties, including the factors discussed in the Company’s filings with the SEC, including in the “Risk Factors” and “Management Discussion and Analysis” sections. Financial Condition and Results of Operations” of the company’s most recent periodic reports filed on Forms 10-K and 10-Q and subsequent filings. If the risks materialize or the assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including Billtrust’s and BCD’s ability to realize the anticipated benefits and synergies of the partnership. There may be additional risks not currently known to the company or that the company currently believes are not material, which could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts regarding future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may choose to update these forward-looking statements at some point in the future, the Company expressly disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.
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Copyright BusinessWire 2022.
PUBLISHED: 05/12/2022 09:00 AM/DISC: 05/12/2022 09:02 AM
Copyright BusinessWire 2022.