Science & Technology
Science and Technology
Science and Technology
Tue, May 11, 2010 
PORTSMOUTH, N.H.--([ BUSINESS WIRE ])--Bottomline Technologies ([ NASDAQ: EPAY ]) today announced the launch of Paymode-Xa", its electronic order-to-pay network for business. The new Paymode-X represents the combination of Bottomlinea™s electronic settlement network (formerly PayMode®) and electronic invoicing solution (formerly Bottomline Business eXchangea").
"Wea™ve completed this ahead of schedule and look forward to offering the new Paymode-X platform with its next generation capabilities to our current and future customers and channel partners."
Combining payments and invoicing into a single platform means organizations can now turn to Paymode-X for financial supply chain automation. Purchase order distribution, invoice presentment, matching, general ledger coding, approval, purchase order aflip,a prompt pay or dynamic discounting, payment processing, and remittance data delivery capabilities can all be accessed from one platform using a single sign-on. Paymode-X network members have already seen an improved user experience and the ability to access a host of other modules.
The Paymode-X network encompasses more than 100,000 companies and is the largest and fastest-growing network of its kind. The size of the network provides companies with an immediate solution to the traditional obstacles to adopting electronic payment and invoicing processes. The size of the Paymode-X network means that more than a third of each new customera™s most important suppliers are likely already enrolled and able to receive electronic payments. Paymode-Xa™s Software as a Service (SaaS) model also eases implementation and service burdens and brings a rapid investment return.
aWhen we acquired PayMode, our vision was to take the customer set, channel partners and supplier network and combine those with our Business eXchange technology,a said Rob Eberle, Bottomlinea™s president and CEO. aWea™ve completed this ahead of schedule and look forward to offering the new Paymode-X platform with its next generation capabilities to our current and future customers and channel partners.a
Transitioning from paper to electronic processes with Paymode-X reduces costs, increases efficiencies and optimizes working capital. Additionally, corporations, banks and other financial institutions are increasingly turning to electronic payments and invoicing as a way to reduce paper usage and environmental impact.
To spread awareness and provide more information about the order-to-pay features of Paymode-X, Bottomline has launched a related Web site, created a Paymode-X user group on Linkedin and is tweeting about product developments (@paymodex). For more information, visit [ www.paymode-x.com ].
Calculate the Environmental Savings
To help raise awareness of the environmental benefits achieved by transitioning from paper to electronic processing, Bottomline has created a green savings calculator, available at [ www.paymode-x.com/About-Us/Think-Green ].
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 companya™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 , PayMode, Bottomline Business eXchangeand 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.
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 filed May, 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.
