Billtrust, a B2B accounts receivable (AR) automation and digital payments market leader, has been recognized with a Bronze sustainability rating by the EcoVadis rating agency, which specializes in evaluating environmental performance and corporate social responsibility. The EcoVadis methodology scores companies on twenty-one indicators across four categories: Environment, Labor & Human Rights, Ethics and Sustainable Procurement.
Sustainable business practices have always been a part of Billtrust culture, but in 2021, the company conducted its first materiality assessment to deepen its understanding of the most important issues to its stakeholders and business. Gathering expertise from customers, partners, employees, academia and NGOs, Billtrust worked to ensure its strategy was shaped by stakeholder feedback while reflecting its long standing company values. With an integrated, enterprise-wide approach to its Environmental, Social & Governance (ESG) program, Billtrust ensures alignment with its values and invests in what is most material to the company and the communities it impacts.
Key sustainability initiatives for Billtrust include:
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Sustainable Product Innovation. Billtrust transforms our customers' billing processes to enable more sustainable B2B payments. From January 2021 to June 2022, we:
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Drove eSolutions customer campaigns to accelerate digital adoption, saving 301 million paper invoices and 22 million paper checks from landfills.
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Introduced our Sustainability/eAdoption award to recognize one customer per year for realizing high-impact environmental savings.
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Incorporated environmental savings in our conversations with customers to demonstrate how digitizing paper billing and invoicing helps achieve business sustainability goals.
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Diversity, Equity, Inclusion & Belonging (DEIB). At Billtrust, everyone belongs. Our commitment to Diversity, Equity, Inclusion & Belonging (DEIB) is critical in fulfilling our vision to retain exceptional talent and lift up the communities in which we operate. We continually advance our DEIB efforts in a range of areas, including hiring diverse talent and growing our Employee Resource Groups (ERGs).
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Billtrust for Good. We have an established philanthropic presence across the communities where we operate and throughout the world, and our employees are a key element of our social impact programming. In February 2022, we launched Billtrust for Good to drive social impact in our communities through activities such as partnerships with non-profit organizations, employee volunteering initiatives and corporate and matching grants. We make corporate donations and host employee volunteer activities regularly, including our recent company-wide Billtrust for Better Day, and 100% of our senior executives take part in Billtrust for Good programming.
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Data Security and Privacy. Our enterprise cloud services are independently validated through third-party audits, continual self-assessment and legal oversight. We publish our privacy policies and terms of service, which describes our practices concerning the use, transmission and disclosure of information.
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Energy and Greenhouse Gas Management. Billtrust hired a third-party environmental consulting firm to conduct our 2021 environmental baseline measurement report, covering scope 1, 2, and specific 3 category greenhouse gas emissions under the GHG Protocol. Through the assessment, we verified that our work-from-anywhere policy produced tangible environmental savings per employee. We will continue to identify opportunities to reduce our carbon footprint in our physical and digital operations, while also promoting internal day-to-day sustainable practices.
"We are proud to receive the Bronze sustainability rating, which is emblematic of our ongoing efforts to be responsible global corporate citizens," said Sunil Rajasekar, Billtrust CEO. "We embrace our responsibility as a global company by focusing on people and culture, climate and communities, and trust and accountability to create value for all of our stakeholders and help address critical global issues."
More than 100,000 companies globally have been rated by EcoVadis. EcoVadis' business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard.
About Billtrust
Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. The order-to-cash process 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 the order-to-cash process, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections.