| FOR IMMEDIATE RELEASE |
23 March 2007 |
Bottomline Technologies Forms Strategic Partnership with Infosys BPO
PORTSMOUTH, NH – March 23, 2007 - Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today announced that Infosys BPO, the business process outsourcing (BPO) subsidiary of Infosys Technologies, will integrate Bottomline’s capabilities for invoice automation into its outsourced services offering for global corporate clients.
In many financial process outsourcing initiatives, technology has quickly emerged as a key differentiator, particularly as the global BPO market becomes more competitive. With industry estimates indicating that more than 90 percent of finance-oriented outsourcing contracts seek to include the accounts payable function, the ability to expand capabilities in this area is critical for outsourcing providers. Choosing to deploy Bottomline’s invoice management software capabilities through this partnership will enable Infosys BPO to bring to market an easy to deploy, cost-effective alternative to manual, in-house invoice processing for its clients.
“The selection of Bottomline by one of the world’s largest BPO providers further confirms our strategy of extending our payment capabilities into a full accounts payable automation suite,” said Rob Eberle, President and CEO of Bottomline Technologies. “This partnership allows us to address outsourcing demand and establish a new channel for the delivery of our solutions. We’re excited by the opportunity to work closely with Infosys BPO to help solve the invoice processing challenges of their clients.”
Bottomline’s approach to invoice automation, which combines software for electronic workflow and payment with fully outsourced services for invoice data capture, enables organizations to immediately realize the benefits of electronic invoicing by accepting both electronic and paper invoices. With all invoices represented as electronic data files, users are not only able to accelerate invoice approval but gain new levels of insight into department spend and the overall efficiency of working capital.
“In order to drive maximum benefit for our clients, we partner to provide best-of-breed technology solutions from companies such as Bottomline,” said Amitabh Chaudhry, CEO & MD, Infosys BPO. “Accounts payable represents a non-core, labor-intensive process prime for outsourcing. Through our partnership with Bottomline, we believe we have found the right mix of expertise and product capabilities to deliver a best-in-class approach to transforming this business function.”
About Infosys BPO Ltd.
Infosys BPO Ltd (www.infosys.com/bpo), the business process outsourcing subsidiary of Infosys Technologies, was set up in 2002. Today, it is ranked among the leading BPO companies in India by NASSCOM, Dataquest, the International Association of Outsourcing Professionals, Red Herring, and others. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process reengineering. Infosys BPO operates in India, the Czech Republic, China, and Philippines (through a partner), and employs about 10,000 people. It closed FY 2005-06 with revenues of $85.5 million.
Media Contact
Billy Balfour
Bottomline Technologies
bbalfour@bottomline.com
603-501-5219
