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Bottomline Technologies Awarded U.S. Patent for Invoice Data Capture Capabilities

^{Published on 2010-08-24 13:55:31 - Market Wire}
 

PORTSMOUTH, N.H.--([ BUSINESS WIRE ])--Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced the issuance of a United States Patent for advanced image data capture technology facilitating the manner in which customers digitize paper invoices, reduce costs and streamline Accounts Payable (AP) processing.

"Bottomlinea™s commitment to developing new technology allows our customers to increase efficiencies, improve business processes and cut costs"

aBottomlinea™s commitment to developing new technology allows our customers to increase efficiencies, improve business processes and cut costs,a said Marcus Hughes, chief marketing officer at Bottomline Technologies. aOur patented image data capture technology is just one way Bottomline is helping organizations to optimize working capital by streamlining their invoicing and payments processes."

For many organizations, the AP department is challenged by manual processes and paper invoices that limit the speed, accuracy and controls critical to the successful management of payables. [ Automating paper-based AP processes ] allows companies to realize significant benefits including cost-savings, increased visibility, improved control and enhanced cash management. Bottomline offers technology which enables quick digitization of corporate documents and minimizes manual processes improving payables systems. The patented image data capture technology deployed in Bottomline AP automation solutions integrates seamlessly with customersa™ existing systems to achieve best-in-class results.

Importantly, reducing the circulation of paper invoices and the need for numerous photocopies has a positive effect on businessa™ carbon footprint, by minimizing the use of paper. Bottomline honors its customers and partners by recognizing the positive environmental impacts of the move from paper to electronic processes with Bottomlinea™s [ Think Green Awards ]. In addition, Bottomline has multiple green savings calculators demonstrating the quantitative and qualitative environmental and financial returns on investment by using Bottomlinea™s products and services on its website at [ www.bottomline.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 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 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 year ended June 30, 2009 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.