Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that Paymode-X®, its business-to-business settlement network, has surpassed 185,000 vendors.
Paymode-X brings a ground-breaking approach to the mission critical task of accounts payable. With Paymode-X, payers can make electronic payments to the more than 185,000 vendors on the network and take advantage of comprehensive accounts payable automation. Vendors enrolled in Paymode-X gain the ability to receive electronic payments and rich remittance information. Paymode-X streamlines the reconciliation process, increases predictability of cash flow and enables access to critical business data. In addition, as a 100% cloud-based solution, Paymode-X does not require any software to be deployed.
“We are in the early stages of executing against a bold vision – to leverage the world’s leading settlement network to change the way businesses pay their vendors,” said Rob Eberle, President and CEO of Bottomline. “The scale and continued growth of the Paymode-X network provides companies with an innovative and highly effective way to transition to electronic payments.”
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.About Bottomline TechnologiesBottomline Technologies (NASDAQ: 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 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. Cautionary Language This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements reflecting our expectations concerning the Paymode-X settlement network. Any statements that are not statements of historical fact (including but not limited to statements containing the words “will”, “believes,” “plans,” “anticipates,” “expects,” “look forward”, “estimates” and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements 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 Bottomline Technologies' financial results, refer to the company's Form 10-K for the fiscal year ended June 30, 2011 and any subsequently filed Form 10-Q’s and Form 8-K’s 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.
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