| FOR IMMEDIATE RELEASE |
17 January 2005 |
Bottomline Technologies Expands Service Capacity to Meet Industry Demand for BACSTEL-IP Delivery
Consulting and Services Teams Poised to Handle over 1,200 Installations per Month in Support of Year-End Implementation Deadline
READING, ENGLAND – 17 January 2005 - Bottomline Technologies (NASDAQ: EPAY), a leading global technology provider of financial Business Process Management (fBPM) software and managed services, today announced that it has doubled its implementation capacity to meet growing industry demand for BACSTEL-IP delivery.
As part of the planned growth of its application development and implementation teams, Bottomline now has over 80 professionals deployed to facilitate more than 1,200 BACSTEL-IP installations per month, up from 600 per month in 2004. Capacity is being increased primarily to accommodate the anticipated increased demand for the new subscription service.
Approximately 50,000 direct users of the existing BACSTEL service must migrate to a new high-speed electronic payments and collection service, known as BACSTEL-IP, before the 31 December 2005 deadline. It is anticipated that nearly 60% of these users will require BACSTEL-IP software to be implemented during 2005.
“Bottomline continues to keep its implementation capacity ahead of industry demand,” said Peter Fortune, President of Bottomline Technologies Europe. “An enhanced resource pool gives us the ability to meet our anticipated installation forecasts for 2005, while taking on new customer commitments and partnerships.”
“We are delighted to see Bottomline reacting so positively to the increased demand,” said Mike Hutchinson, BACSTEL-IP Marketing Manager. “It is vitally important that the BACSTEL-IP solution suppliers, together with the banks, work in tandem to ensure a successful migration for their corporate customers.”
For further information
BACS Payment Schemes Limited: BACSTEL-IP
Website: www.bacstel-ip.com
Ana Bolitho, Tel+44(0) 870 920 8625, email: ana.bolitho@voca.co.uk
About BACSTEL-IP (www.bacstel-ip.com )
BACSTEL-IP is the first stage of the technology renewal programme designed to meet the rapidly growing demand for electronic payment services. BACSTEL-IP utilises Internet Protocol and Public Key Infrastructure (PKI) to create a new delivery channel with a multi-layered security platform, providing businesses with the highest level of security in payment submissions. This upgrade represents a major improvement for business customers with even faster payment confirmation and the ability to track the status of payments online.
About BACS Payment Schemes Limited (www.bacs.co.uk)
BACS Payment Schemes Limited is the membership based ‘not for profit’ industry body whose role is to develop, enhance and promote the use and integrity of automated payment and payment related services. It also governs the rules and legal structures under which payments are made and promotes best practice amongst those companies who offer payment services. It’s principal products are Direct Debit, Direct Credit, and standing orders. These products generated over four and and a half billion transactions from over 100,000 UK businesses of all types during 2004.
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