Jamesburg, NJ, and Santa Barbara CA June 24, 2010 – Billtrust, a leading billing service provider for the B2B market, and QAD Inc. (NASDAQ: QADI), a leading provider of enterprise applications for global manufacturers, today announced a partnership to provide expanded solution integration between Billtrust’s CompleteBilling and QAD Enterprise Applications. QAD customers integrating with Billtrust can achieve savings on the costs associated with the bill delivery and payment process while streamlining tasks.
“Many B2B companies do not realize the significant investment they are making to deliver their bills. This investment includes postage, material, equipment, labor, and management time,” said Mitch Rose, VP of Marketing for Billtrust. “Our service provides businesses with an immediate savings on these costs. We are proud to be able to partner with an ERP leader like QAD to offer more value to their users.”
Over 450 companies are outsourcing the delivery of their invoices and statements to Billtrust to capture savings of 20-35% on the cost of sending their bills. For QAD customers, integration with Billtrust helps them get paid faster, satisfy their customers’ needs quicker, streamline the billing process, and reduce billing costs.
“I love reporting my billing costs every month because they are going lower and lower,” said Peggy Kemp, manager of Credit and Collections for Saint Gobain Performance Plastics, a QAD and Billtrust customer. “In the first four months after going live with Billtrust, our e-billing rate grew from 25 % to 65%.”
Billtrust’s suite of paper and electronic bill delivery and payment solutions benefit both the biller and bill recipient. When implementing CompleteBilling with QAD Enterprise Applications, QAD customers enter billing data in their QAD Enterprise Applications solutions as they do today, however, Billtrust processes the transactions including printing, folding, stuffing and sending the bills. With a simple click, Billtrust delivers the bills to the bill recipient based on their preference: U.S. mail, e-mail, FAX, or via an online account.
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, e-mail and online billing ( EBPP, EIPP). 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 350 companies nationwide rely on Billtrust for their billing needs. For more information, visit Billtrust online at www.billtrust.com.
QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer products, electronics, food and beverage, industrial and life science products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at www.qad.com.
“QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to, evolving demand for the company’s software products and products that operate with the company’s products; the company’s ability to sustain license and service demand; the company’s ability to leverage changes in technology; the company’s ability to sustain customer renewal rates at current levels; the publication of opinions by industry and financial analysts about the company, its products and technology; the reliability of estimates of transaction and integration costs and benefits; the entry of new competitors or new offerings by existing competitors and the associated announcement of new products and technological advances by them; delays in localizing the company’s products for new or existing markets; the ability to recruit and retain key personnel; delays in sales as a result of lengthy sales cycles; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; timely and effective integration of newly acquired businesses; general economic conditions; exchange rate fluctuations; and, the global political environment. In addition, revenue and earnings in the enterprise resource planning (ERP) software industry are subject to fluctuations. Software license revenue, in particular, is subject to variability with a significant proportion of revenue earned in the last month of each quarter. Given the high margins associated with license revenue, modest fluctuations can have a substantial impact on net income. Investors should not use any one quarter’s results as a benchmark for future performance. For a more detailed description of the risk factors associated with the company and the industries in which it operates, please refer to the company’s Annual Report on Form 10-K for fiscal 2009 ended January 31, 2009.