20 Aug, 2012, 08:00 ET
PHOENIX, Aug. 20, 2012 /PRNewswire/ -- BillingTree, one of the nation's leading on-demand payment processors, today announced that after a successful Q2 with 40 percent increase over Q2 2011, it has achieved a 46 percent increase in top line revenue in H1 of 2012, compared to the same period in 2011. During the period in which the company successfully completed a significant leadership transition, this puts the company on target to achieve 2012's revenue projections of 25 percent growth.
In Q2, after a period of sustained success, the company welcomed David Roberts as the new CEO and President to lead it through its next major growth period. The past President Scott McCollum remains Chairman of the BillingTree Board.
During Q2 BillingTree also added Matt Llewellyn to its executive team as VP of Healthcare Sales and enhanced its healthcare services with the launch of a new offering to meet the increased demand from the healthcare industry. Health PAS™ is a unique initiative through which third-party billing services and accounts receivable companies can process payments on behalf of a healthcare organization.
"We are extremely pleased with the continued momentum the company experienced during the recently completed leadership transition. It is a real testament to the solid foundation we are building on here at BillingTree," commented David Roberts, BillingTree's President and CEO. "Our revenue growth continues to impress, especially when factoring our 40% increase in Q2 was after our continued commitment to issue Durbin Rebates back to clients."
"Growth in the second quarter was the result of our unparalleled product and service offering within the ARM Industry. We also secured new business from the Healthcare market, where we launched an exciting new product offering, and in the Utility market, where we have been taking a high profile role with many speaking engagements – most recently addressing the AGA/EEI Conference."
"Throughout all of the company's growth and success, BillingTree's staff have continued our ongoing charitable efforts, volunteering over 106 hours of their time helping multiple charitable organizations in Q2 including Feed My Starving Children and St. Mary's Food Bank, to name a few," concluded Roberts.
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.
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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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