Paymode-X®Network Surpasses 200,000 Vendors
PORTSMOUTH, N.H.--(BUSINESS WIRE)-- Bottomline Technologies (NAS: EPAY) , a leading provider of cloud-based payment, invoice and banking solutions, today announced that its business-to-business settlement network, Paymode-X, has surpassed 200,000 members actively exchanging electronic payment and remittance data.
Paymode-X network growth is due to the many benefits it provides to both payers and vendors. Payers accelerate the conversion of paper to electronic payments and optimize working capital. Vendors enjoy predictability of cash flow, unlimited digital remittance information and a streamlined receivables process.
Paymode-X is an established community of enrolled members representing a cross-section of industries: healthcare, manufacturing, insurance, real estate, wholesale and retail trade, consumer and business services, public administration and more. With a continually expanding vendor base and an increasing global reach, Paymode-X is well positioned to be the clear choice for payment and invoice automation.
"The achievement of this important milestone confirms the unique and innovative value of Paymode-X," said Rob Eberle, President and CEO of Bottomline. "We are committed to driving the continued growth of this strategic platform for our clients and partners."
Eliminating paper payable processes presents significant opportunities for cost savings and allows organizations to reduce their environmental impact. For more information on Paymode-X, visit www.paymode-x.com. Already a Paymode-X customer? Download the Paymode-X iPad® app from the iTunes® store.
About Bottomline Technologies
Bottomline Technologies (NAS: EPAY) provides cloud-based payment, invoice and banking 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 Bottomline 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 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, including statements reflecting our expectations about the Paymode-X settlement network. Actual results may differ materially from our expectations as a result of various important factors, including but not limited to competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of these and other factors that could impact our operational and financial results, refer to our filings with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2012 and subsequent filings. Any forward-looking statements represent our views only as of today and we do not assume any obligation to update such statements.
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Lara Mataac, 603-501-6371
KEYWORDS: United Kingdom United States Europe North America New Hampshire
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