BillingTree exceeds growth targets: achieves 49 percent quarter-over-quarter growth
- Kicks off 9th year of repeated ARM Industry growth for both transactions & new account acquisitions
- Demonstrates significant account growth in new verticals
PHOENIX, June 11, 2012 /PRNewswire/ -- BillingTree(R), one of the nation's leading on-demand payment processors, today announced it has again exceeded its growth targets, reporting on figures for Q1 2012. The company grew 49 percent over Q1 2011 - almost double BillingTree's 2012 forecast growth figures of 25 percent. The company currently processes over $2.5 billion of integrated, on-demand payments annually.
The success was fueled by repeat business and growth from existing clients within the Accounts Receivable Management (ARM) Industry and supported by new account acquisitions in Healthcare and from Utilities. During the quarter, BillingTree also completed an important expansion into cloud based solutions with a partnership agreement to integrate its payment services with claims settlement company, Debt Resolve, Inc.
"These figures are an extremely positive indicator of the quality and range of services BillingTree offers," commented David Roberts, BillingTree's President. "In addition to the moves into the major verticals we have been particularly encouraged by our accelerating performance in the ARM Industry, where we have outperformed our forecasts because of our partner integrations and unique ability to offer compliant payment solutions to agencies."
BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities, such as power, cable, municipal, and phone, as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree's focus on innovation has allowed us to help more than 2,000 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
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