Press Release - 14th September 2009
Bottomline Launches C-Series™ Solution Set for Corporate Treasury
Real-time Payments and Cash Decisioning Solutions Leverage SWIFT Alliance Lite to Provide Consolidated View and Control of Corporate Finance
PORTSMOUTH, N.H. and HONG KONG – September 14, 2009 - Bottomline Technologies (NASDAQ: EPAY) a leading provider of collaborative payment, invoice and document automation solutions, today at Sibos 2009 announced the global launch of Bottomline C-Series, a new set of solutions providing corporate treasury and other finance executives with cost effective and feature-rich capabilities for liquidity and cash management.
Bottomline C-Series enables the exchange of real-time information between corporations and banking partners internationally, integrating with SWIFT Alliance Lite, for direct, secure and low-cost access to the SWIFT network, as well as with industry-leading enterprise resource planning systems. Easier to install and considerably lower in cost than traditional treasury management systems, the Bottomline C-Series solution set is ideally suited for organisations seeking a more cost effective approach to domestic and international bank transactions and greater independence from over-committed IT resources.
“When an organization’s financial supply chain is dispersed across multiple banks and geographies, strategic tasks such as cash forecasting become increasingly difficult,” said Rob Eberle, President and CEO of Bottomline Technologies. “Our exciting new C-Series solution draws upon our unique domain expertise as SWIFT’s technology partner in the creation of SWIFT Alliance Lite and provides additional reach across the enterprise for extended control and visibility of current and future cash flows. With Bottomline C-Series, we’ve leveraged our strategic relationship with SWIFT to bring to market a highly flexible solution set that addresses key corporate treasury needs for optimizing working capital, so that a wider range of corporations can benefit from these tools in a multi-bank environment.”
“We are delighted to see Bottomline launch a new product which will allow corporates to capture the value of SWIFT,” said Elie Lasker, Head of the Corporate Market at SWIFT. “We believe this approach will help to accelerate adoption of SWIFT for corporates, bringing them the value of streamlined multi-bank connectivity and improved straight through processing.”
The first two C-Series solutions, C-Series Wires and C-Series Cash Reporting are now available. With C-Series Cash Reporting, organisations can:
- Leverage industry standards such as Microsoft Excel and SWIFT Alliance Lite to provide global access to intra-day and end-of-day balance and transaction information in a familiar and easy to use manner;
- View near real-time and forecasted cash positions by quickly combining receivables and payables data with balance and transaction reporting;
- Easily identify short-term overdraft risk in under-funded accounts and cash sitting idly on non-interest earning accounts and move funds accordingly to prevent these scenarios; and
- Reduce the risk of errors and fraud, by enforcing secure and controlled access to cash forecasting activities, mitigating the operational risk of insecure spreadsheet usage.
Through the use of C-Series Wires, organisations can:
- Eliminate the need to maintain multiple bank workstations and formats for domestic and international real-time settlement transactions;
- Enable secure payment approval requirements at multiple levels based on individual user business requirements, with flexible limits and entitlements; and
- Create a single repository of payment and confirmation information to facilitate faster queries and tighter integration with back-office systems.
“Bottomline has a rich heritage of providing solutions for optimizing payment and cash management processes,” said Chip Martin, Vice President of Enterprise Payments for Bottomline Technologies. “Our C-Series solution is focused on business applications that will benefit from SWIFT connectivity and offers a compelling alternative to traditional treasury workstations. This solution adds further value for corporates using the SWIFT Alliance Lite platform, which we are proud to have developed for SWIFT, and enables corporates to streamline their payments and cash management globally, achieving significant processing savings and improved security.”
Editorial Note: Bottomline will be exhibiting in booth 3D18 at Sibos 2009, September 14-18, 2009 in Hong Kong. To arrange an on-site meeting, please contact Heather Bridges at +1 603-501-5267 or Billy Balfour at +1 603-501-5219.
Calculate the Environmental Savings
To help raise awareness of the environmental benefits achieved by transitioning from paper to electronic processing, Bottomline has posted a green savings calculator on its Web site at: www.bottomline.com/cash_management_goes_green/
Contact
Billy Balfour
Bottomline Technologies
bbalfour@bottomline.com
603-501-5219
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