Company demonstrates steady year-over-year growth with expanding presence in Healthcare and Utility Verticals
Phoenix, Ariz. - 2012 - BillingTree®, one of the nation's leading on-demand payment processors, exceeded predicted revenue growth during 2011. Highlights include a 33% increase in revenue and steady new customer growth, putting the company in good standing to exceed its predicted revenue growth of 25% for 2012. The figures were even more impressive because, unlike some third party payment processors, BillingTree adopted a Best Practice to pass savings resulting from the Durbin Amendment back to their clients.
Supporting the strong earnings, BillingTree inked new contracts within two primary verticals - the healthcare industry covering hospitals, surgical centers and laboratories, and in the utility markets where the company's new mobile solutions suite, including text notification, billing and payments, has proven very attractive.
Additional 2011 Highlights:
"We continue to see growth and opportunity within the healthcare and utility verticals as demonstrated by the company's overall revenue performance in 2011. These verticals will be where our main increase in revenue comes from in 2012," said Scott McCollum, president of BillingTree.
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 1,800 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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IBA, PR for BillingTree