LAWRENCEVILLE, N.J., April 16, 2019 /PRNewswire/ -- Billtrust, the leader in B2B order-to-cash solutions, announced today the acquisition of Second Phase, a software solution provider that is the leader in B2B eCommerce for wholesale distribution companies. This acquisition allows Billtrust to help further streamline and digitize the order-to-cash experience.
Based in Boulder, CO, Second Phase offers B2B eCommerce solutions that dramatically increase the profitability of wholesale distributors at a price point that works for distributors of all sizes. Their solutions are based on a SAAS Cloud software model and provide a complete turnkey solution that leverages the latest technology. Second Phase is the preferred eCommerce solution partner for leading wholesale buying groups, including IMARK Electrical, IMARK Plumbing and BLUEHAWK.
Forrester Research forecasts that U.S. B2B eCommerce will reach $1.8 trillion by 2023. Bank of America projects there is a total addressable market for e-commerce B2B of $1.4 trillion by 2021, which is nearly double the firm's estimated $761 billion market for consumer e-commerce.
"We are very pleased to welcome the Second Phase team to Billtrust. By adding adjacent functionality, this acquisition enhances our capabilities in the order-to-cash cycle and delivers valuable business outcomes to our important wholesale distributor customer segment," said Steve Pinado, President at Billtrust.
"We are excited to join the Billtrust solution portfolio, enhancing our ability to more broadly serve our existing customers and accelerate our growth," said Mark Kostovny, Founder and CEO at Second Phase.
Billtrust accelerates cash flow by automating credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections. Billtrust customers improve operational efficiency across the credit-to-cash spectrum via a flexible and integrated cloud-based solution set. Finance executives and A/R specialists love and recommend Billtrust for the remarkable cost savings, ease-of-use, process efficiency, and improved customer satisfaction rates. For more information, visit www.Billtrust.com.