Bottomline Technologies (NASDAQ: EPAY) announced today that Paymode-X®, its business-to-business settlement network, has reached 150,000 vendors. Paymode-X customers are able to immediately realize the benefits of payment and invoice automation because many of their strategic vendors are already enrolled in the network.
Payers using Paymode-X can take advantage of invoice process automation, including receipt, review and approval, while enabling electronic payments to the 150,000 vendors on the network. By removing paper from accounts payables processes, customers can optimize their working capital through better visibility into their supply chain and cash flows, thereby reducing costs and increasing efficiencies.
When enrolled in the Paymode-X network, vendors gain access to electronic invoicing and purchase order receipt, plus the ability to receive electronic payments and rich remittance information. This functionality streamlines the reconciliation process and increases cash flow predictability.
“Reaching 150,000 vendors is an important milestone for Paymode-X,” said Rob Eberle, Bottomline’s President and CEO. “In successfully doubling the vendor community, we’ve further extended our market leadership. As a result, both the Paymode-X network and our company are well-positioned for continued strong growth.”
Automating payables processes presents significant opportunities for better cash management while allowing organizations to reduce their environmental impact. For more information on Paymode-X, visit www.Paymode-X.com.
Editorial Note: Bottomline will be exhibiting in booth #L117 at Sibos, Sept. 19-23, 2011 in Toronto. For more information or to arrange an on-site meeting, please contact Heather Bridges at firstname.lastname@example.org or visit www.bottomline.com/sibos.
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
Heather Dignan Bridges
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