BillingTree Outperforms with 31% Increased Revenue in Second Quarter Exceeding Forecast by 8%

PHOENIX, Aug. 4, 2011 /PRNewswire/ -- BillingTree, one of the nation's leading on-demand payment processors, successfully exceeded revenue and customer acquisition growth during second quarter 2011. Highlights include a 31% increase in Q2 revenue versus 2010 and steady new customer growth current year to date compared to last.

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Supporting the strong earnings, BillingTree inked five new contracts within the healthcare industry including processing for hospitals, surgical centers and laboratories. In the utility vertical, additional energy providers continued to adopt the company's mobile solutions suite including text notification, billing and payments.

Additional Q2 Highlights:

• Leading analyst firm Aite Group featured BillingTree in two key reports; Biller Direct Technology: Vendor Overview Update and Patient-to-Provider Payments: A Vendor Overview
• Was certified SAS70 compliant as a compliment to their existing PCI Compliance certification
• BillingTree announced dates for their Second Annual Conference November 3-4 to be hosted in Scottsdale, Arizona
• Confirmed the return of RockBlock for 2011 to be held on November 5 and again will function as a charity fundraiser

"We continue to see growth and opportunity within the healthcare and utility verticals as demonstrated by the company's revenue performance this quarter and year to date," said Scott McCollum, BillingTree's president. "Fortunately our success allows us to commit to future activities including the upcoming 2011 Conference and RockBlock charity fundraising concert, where BillingTree can share our success and give back to the community."

BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities (such as energy, 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.

Related News

Aite Group Finds BillingTree Top Biller Direct Vendor based on Number of Customers

Aite Group's Patient-to-Provider Payments Report Finds BillingTree Has Highest Product Penetration Rate Amongst Those Surveyed

BillingTree Supplies Pulaski Electric System with Text Billing and Payment Solution

BillingTree exceeds growth targets: achieves 24 percent quarter-over-quarter growth in Q1

About BillingTree

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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SOURCE BillingTree

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