| FOR IMMEDIATE RELEASE |
8th May 2006 |
Bottomline Technologies Announces Integrated Solution for End-to-End Purchase-to-Pay Automation
Sprinter® Enables Enterprises to Streamline Handling of Paper and Electronic Invoices
PORTSMOUTH, NH – May 08, 2006 – Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today announced the global launch of Sprinter®, a modular solution that streamlines Purchase-to-Pay processes through a combination of integrated invoice data capture services and innovative software for purchasing and requisition management, invoice workflow and supplier collaboration.
Designed to integrate seamlessly with existing Enterprise Resource Planning (ERP) systems and Bottomline’s market-leading payments platforms, Bottomline’s Sprinter solution is a flexible and cost-effective alternative to inefficient paper-based invoice management processes. The unique inclusion of services for invoice receipt and line-item data capture, provided by Bottomline Transaction Centers, enables businesses to transform paper invoices into clean electronic data files that can be fed directly into Sprinter Invoice Manager® within 24 hours, along with invoices received in electronic format.
This integrated approach to Purchase-to-Pay automation allows accounts payable departments to quickly bypass complex supplier onboarding methods and take immediate advantage of more efficient workflow processes, such as automated purchase order matching and invoice approval, while reducing errors and the need to manually enter data. The use of Bottomline Transaction Centers simplifies the process of getting started with AP automation initiatives and eliminates up-front hardware or software costs. A pay-as-you-go transaction pricing model enables organizations to quickly scale as their business needs require.
“Despite rising expectations for AP departments to help drive profitability, control risk and ensure compliance, many departments remain dependent on paper-based processes,” said Henry Ijams, Managing Director of PayStream Advisors. “Improving the efficiency of the AP function requires not only a transition to electronic invoicing but also the ability to effectively handle the paper invoices, which will always be a part of the AP equation. We counsel our clients to leverage offerings, such as Sprinter from Bottomline Technologies, which combine software and services to form solutions capable of accommodating both paper and electronic invoices.”
Bottomline’s Sprinter Invoice Manager module acts as the hub for accelerating invoice approvals and ensuring compliance with business practices through a rules-based workflow engine. The combined software and services solution enhances corporate compliance initiatives by creating an electronic audit trial of every invoice that moves through an accounts payable department.
With Sprinter, mid- to large-sized enterprises can:
- Reduce costs associated with maintaining paper-based processes
- Leverage electronic data to enhance compliance with regulatory guidelines
- Accelerate invoice processing and settlement to capture early payment discounts
- Create unprecedented levels of visibility into AP processes for better cash management
- Significantly increase the productivity of full-time employees
- Improve data accuracy by decreasing the dependency on manual data entry
“Devoting a significant amount of time and resources to processing paper invoices has left many finance departments saddled with inadequate visibility into AP processes and limited control of cash flow,” said Joe Mullen, CEO of Bottomline Technologies. “Bottomline’s combination of software and services in the Sprinter solution offers a unique value proposition for treasury executives seeking rapid business process improvement, and the ability to optimize working capital.”
As extensions to Invoice Manager, Sprinter Purchasing Manager® and Sprinter Supplier Portal® modules enable further process efficiencies across the Purchase-to-Pay cycle, streamlining procurement and requisitioning and providing suppliers with a collaborative, self-service access point for submitting and tracking invoices online.
Additional Resources
Product data sheets for Invoice Manager, Supplier Portal and Purchasing Manager as well as information regarding Bottomline Transaction Centers can be found on the company’s Web site at www.bottomline.com.
Pricing and Availability
Sprinter from Bottomline Technologies is available today under a subscription-based pricing model as a fully hosted or on-site installed solution. Price varies based on configuration. Bottomline Transaction Center services are charged on a per-transaction pricing model based on invoice volume. For additional information, please contact Bottomline for details.
Company Contact:
Billy Balfour
Bottomline Technologies
603-501-5219
bbalfour@bottomline.com
