PORTSMOUTH, N.H.--(BUSINESS WIRE)--Bottomline Technologies (NASDAQ: EPAY) today announced that Paymode-X™, its business-to-business payments and invoicing network, has added its 140,000th supplier. The network size helps Paymode-X customers realize immediate benefits with the majority of their strategic suppliers typically already enrolled and able to invoice and receive payments electronically through Bottomline’s order-to-pay solution.
For Paymode-X customers, the solution automates invoice workflows including receipt, review and approval processes while enabling electronic payments to the 140,000 suppliers on the network. Removing paper from accounts payables processes allows customers to optimize their working capital by gaining better visibility into their supply chain and cash flows, reducing costs and increasing efficiencies.
When enrolled in the Paymode-X network, suppliers gain access to electronic invoicing and approval processes, plus the ability to receive electronic payments and rich remittance information. This functionality streamlines the reconciliation process, increases predictability of cash flow and enables access to remittance data.
“Paymode-X enables organizations of all sizes to revolutionize their payments and invoicing processes,” said Rob Eberle, Bottomline’s President and CEO. “The scale of the Paymode-X network, combined with our proven on-boarding process, helps customers see an immediate benefit from the service. We continue to invest in the platform and the network as we bring forth new and innovative programs to market.”
Eliminating paper payable processes presents significant opportunities for cost savings as well as allowing organizations to reduce their environmental impact. For more information on Paymode-X, visit www.paymode-x.com.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Bottomline Technologies, Paymode-X and the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.
Cautionary Language
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10-K for the fiscal year ended June 30, 2010 and any subsequently filed Form 10-Qs, Form 8-Ks or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.