PepsiCo Taps Billtrust’s Automated Credit Application Solution in Launching the Distribution of Hard Mountain Dew
May 12 2022 - 8:00AM
Business Wire
Beverage Maker Chooses Billtrust to Maximize
Customer Service, Speed Approvals and Improve Internal
Communications
Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation
and integrated payments leader, announced today that PepsiCo has
successfully deployed its automated Credit Application solution to
support the distribution of HARD MTN DEW, a new Mountain
Dew-branded alcoholic beverage. For the distribution, Blue Cloud
Distribution, Inc. (BCD), a wholly owned subsidiary of PepsiCo,
needed to quickly configure a credit solution, where legal, to
onboard hundreds of new distributor partners and meet the increased
credit demand while complying with varying state requirements.
By implementing Billtrust’s Credit Application solution, BCD is
now maximizing customer satisfaction, eliminating paper use and
achieving 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 entering a new
business offered our team a new set of challenges,” said Mike
Bevilacqua, Senior Director, Credit & 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 stand up a whole new division
within a short timeline.”
Previous to implementing Billtrust Credit Application, BCD’s
pain points included a lack of communication between their sales
and accounts receivable teams regarding credit application status,
as well as the expense of using at least 40,000 sheets of paper per
year. With Billtrust, BCD is able to utilize a dashboard for
complete credit application status visibility, can automatically
gather bank references and bureau data to decrease the time between
customer application and credit approval and make an environmental
impact with a paperless process.
“We are pleased to help the Blue Cloud Distribution team
navigate through a challenging initiative and help them deliver
world-class results,” said Steve Pinado, Billtrust President. “With
the tools to predict both customers’ short-term payment behavior
and long-term business viability, BCD credit managers have the
ability to quickly and accurately make credit decisions that will
help their business thrive.”
Bevilacqua expects that Billtrust will continue to help BCD
drive measurable results with customer onboarding. “The great thing
about Billtrust is their honesty – they do what they say they are
going to do, while listening and working with you,” said
Bevilacqua. “To me, those are the things that are intrinsic to a
long-term relationship.”
About Billtrust
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
conventional processes that are outdated, inefficient, manual and
largely paper based. Billtrust is at the forefront of the digital
transformation of AR, providing mission-critical solutions that
span credit decisioning and monitoring, online ordering, invoice
delivery, payments and remittance capture, invoicing, cash
application and collections. For more information, visit
Billtrust.com.
Forward-Looking Statements
This press release includes 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 that may be realized by Billtrust (“the
Company”) and BCD as a result of the partnership. These
forward-looking statements are not intended to serve as, and must
not be relied on by any investor as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of the Company. These forward-looking
statements are subject to a number of risks and uncertainties,
including those factors discussed in the Company’s filings with the
SEC, including in the “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations”
sections of the Company’s most recently filed periodic reports on
Form 10-K and Form 10-Q and subsequent filings. If the risks
materialize or 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 the Company presently
does not know or that they currently believe are immaterial that
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
of 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 elect to update these forward-looking statements at some point
in the future, the Company specifically 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 upon the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005114/en/
Investor Contact John T. Williams IR@billtrust.com
Media Contact Paul Accardo PR@billtrust.com
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