Billtrust, Jamesburg, N.J., which provides outsourced billing services to many electrical distributors, announced the acquisition of Invoice Connection, an automated invoice and statement delivery company headquartered in Carlsbad, Calif. No financial details were disclosed.
Invoice Connection has a significant presence in wholesale distribution vertical, Billtrust said in a release announcing the deal. Billtrust's suite of services is particularly aligned with the needs of that market, and the acquisition provides additional value to the customers they serve, the company said.
“Our respective companies have a great deal of respect for each other because we share the same unwavering commitment to client service,” said Flint Lane, Billtrust CEO and president. “Customers coming into the Billtrust fold will have access to an even broader range of print/mail and electronic billing services.”
Billtrust's flagship product and service suite, called CompleteBilling, consists of paper, fax, e-mail and online billing. The company also provides bill design, in-bill marketing services and an online customer service tool called CustomerCare.
Billtrust has been aggressive in growing its outsourced billing services in the electrical market. The company has been listed on the Inc. 500/5000 for five consecutive years, and their CEO was recently named one of the 25 Most Influential Financial Operations Professionals by the Institute of Financial Operations (IFO).