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Bottomline to Share Results of Cash Forecasting Survey

^{Published on 2010-09-20 14:06:13 - Market Wire}
 

PORTSMOUTH, N.H.--([ BUSINESS WIRE ])--Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced they will share results of a recent cash forecasting study of U.S. corporate treasurers at an upcoming webinar.

"Significant opportunities for improvement in core treasury information processes remain for most firms"

The study, co-sponsored by Strategic Treasurer, examines common challenges faced by corporate treasurers in their attempts to get a timely, [ accurate view of cash position ] and the dangers of decentralized systems creating fragmented views of corporate liquidity.

Key results of the study include:

• 94 percent of respondents with decentralized treasury organizations receive weekly (or less frequent) data updates from regional offices, but would prefer to receive them daily.
• More than 75 percent of corporations surveyed have upwards of 10 bank accounts, with about a third having between 101 and 500 accounts.
• More than half of respondents have multiple banking relationships outside of the U.S.

"Significant opportunities for improvement in core treasury information processes remain for most firms,a said Craig Jeffery, managing partner of Strategic Treasurer. aLess than 10 percent of respondents were able to consolidate information in a fully automated or real-time manner. Given the level of affordable [ automation ] available today and the requirements for visibility to liquidity, many organizations will need to implement new technology over the next six to 18 months to address these challenges."

Bottomline treasury experts and Strategic Treasurer will host aCreating Centralized Cash Visibility with Technology,a a webinar to review survey findings and provide tools and best practices for achieving a centralized view of cash ensuring working capital optimization. This 60-minute complimentary webinar will be held at 2 p.m. EDT on Wednesday, Sept. 22. It has been approved for up to 1.2 CTP/CCM recertification credits by the Association for Financial Professionals.Webinar participants will also receive a complimentary copy of the survey. Click [ here ] to register for the webinar.

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, 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.