| FOR IMMEDIATE RELEASE |
20th June 2005 |
Bottomline Technologies Migrates Colony Gift Corporation
to
New BACS Standard
UK-Based Candle Maker Profits from Early Move to New Electronic Payments Standard
READING, ENGLAND – 20th June 2005 - Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today announced that Colony Gift Corporation has deployed WinBACS-IP, Bottomline’s market-leading BACSTEL-IP solution. Colony’s migration to this convenient hosted service ensures their compliance with a new BACS-mandated electronic payments standard, expected to take effect 1 January 2006.
The largest scented candle manufacturer in Europe, Colony Gift Corporation has been using Bottomline’s electronic payments solutions to manage payroll and purchase ledger needs since 1998. As the deadline for migration to the new BACSTEL-IP standard looms, Colony Gift realised that a planned company-wide operating systems upgrade was an ideal opportunity to also migrate to the new electronic payments standard.
“Completing our migration to the BACS standard as part of a larger IT initiative has proven to be a win-win for us. With that decision, we have already profited from months of process efficiency gains that we would have not have had with a delayed migration,” said Pauline Mellors, Accounts Manager, Colony Gift Corporation. “As a Bottomline customer, we were accustomed to the enormous benefits of the company’s products, and the support of its professional services group. The ease with which the migration occurred validated our decision to expand our relationship with Bottomline for this important initiative.”
While some UK organisations are faced with the very real possibility of failing to migrate prior to the 31 December 2005 deadline, Colony Gift has been utilising the new standard for 16 months. Today, Colony Gift processes hundreds of payroll and batch payments quickly and efficiently without manual, time consuming and paper-laden steps that once defined their payroll and purchase ledger functions.
“As evidenced by Colony Gift’s business gains from implementing Bottomline solutions, the value in early compliance with the new BACS standard extends well beyond the ability to make an electronic payment,” said Ben Clacy, BACSTEL-IP Operations Manager for Bottomline Technologies Europe. “Through migration, organisations also have an opportunity to transform their core financial processes. Those who have yet to migrate are failing to capitalise on these benefits.”
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About Colony Gift Corporation
Colony Gift Corporation Ltd was founded in 1979 as a small family business in the English Lake District, where its headquarters, production facility and two warehousing sites are still located. As the largest scented candle manufacturer in Europe, Colony aims to be at the forefront of home fragrance trends, reacting to and designing for consumer passions. In-house development, design and sourcing teams backed up with market research allow us to react quickly to important design trends. Over 1400 items are divided between our accessory ranges, scented wax and home fragrance collections that are launched throughout the year. Colony Gift Corporation, Ltd is a member of the Blyth Inc. family of premium home fragrance and gift companies.
