Press Release - 21st October 2010
Bottomline Technologies' Order-to-Pay Network Now Over 125,000 Suppliers Strong
Growing Network Automates Invoicing and Payments Processes
PORTSMOUTH, N.H. – Oct. 21, 2010 – Bottomline Technologies (NASDAQ: EPAY) today announced that Paymode-X®, its electronic order-to-pay network for business, has added its 125,000th supplier. The scale of the network allows Paymode-X customers to realize an immediate return on their investment with more than a third of their strategic suppliers already enrolled and able to invoice and receive payments electronically through Bottomline’s order-to-pay solution.
For Paymode-X customers, the solution automates accounts payable workflows including invoice receipt, review and approval processes and enables electronic payments to the more than 125,000 suppliers on the network. Removing paper from the payments process allows customers to optimize their working capital by gaining better visibility into their supply chain and cash flows, reducing costs and increasing efficiencies.
For suppliers, enrollment in the Paymode-X network means access to electronic invoicing and approval processes, plus the ability to receive electronic payments and rich remittance information. This functionality streamlines the receivables process, increases predictability of cash flow and enables access to remittance data.
“The scale of the Paymode-X network allows organisations to revolutionize their payments and receivables process,” said Rob Eberle, Bottomline’s president and CEO. “Bottomline is continuing to invest in this platform as we bring new and advanced capabilities to market. We look forward to helping more customers optimize their working capital and take advantage of the cost-savings and environmental benefits associated with making and receiving electronic payments.”
Doing away with paper processes not only presents opportunities for business benefits, but allows organisations to reduce their environmental impact. Paper, and the processes around it − manufacturing, storage, pick-up and disposal along with the file cabinets, ink and toner that make paper work − cause tons of carbon emissions. For more information on Paymode-X, visit www.paymode-x.com.
Media Contacts:
US: Alana Burns
603-501-6601
aburns@bottomline.com
UK: Nadine Ter Meulen
0118-982-2342
ntermeulen@bottomline.com
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