Bottomline Technologies’ Order-to-Pay Network Grows to 100,000 SuppliersNetwork Size Accelerates Migration from Paper to Electronic Payments and Invoicing PORTSMOUTH, N.H. – April 19, 2010 –
Bottomline Technologies (NASDAQ: EPAY) today announced that PayMode®, its electronic order-to-pay network for business, has exceeded 100,000 enrolled suppliers. Once enrolled in the network, suppliers can receive electronic payments from their customers using the network, streamline the accounts receivable process and gain visibility to cash flow. The PayMode network allows for electronic payments and invoicing on a Software as a Service (SaaS) platform. Supplier adoption is typically one of the biggest obstacles for a business considering a transition from paper checks to electronic payments. The scale of Bottomline’s 100,000-plus supplier network means that one in three potential customer’s most important suppliers are already enrolled and instantly able to receive electronic payments. Bottomline’s custom supplier enrollment program helps customers convert more than half of their payments from paper checks to electronic within the first 12 weeks. “We are committed to making our customers’ paper-to-electronic transition seamless,” said Rob Eberle, Bottomline’s president and CEO. “Bottomline is invested in driving the growth of our network and enhancing the order-to-pay solution to bring the benefits of electronic payments to more organizations.” Bottomline acquired PayMode from Bank of America last year. At that time, the two organizations entered a multi-year agreement to deliver next-generation solutions for integrated payables automation. About Bottomline TechnologiesBottomline 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 and the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders. 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 filed February 2010 and any recently filed Form 8-Ks. 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. Company Contact: |