Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced it is making its Paymode-Xâ¢ functionality available in the WebSeriesÂ® Cash Management Platform. Paymode-X is the fastest growing online business to business electronic payment network helping companies convert from paper to electronic payments easily and securely.
The integration of Paymode-X functionality into WebSeries will allow banks to enhance their payment applications and capture additional business by offering electronic remittance delivery to suppliers already on the worldâs largest and fastest growing business to business payment network. Access to the Paymode-X network allows banks the ability to offer their clients accelerated conversion from paper to electronic payments. Integrating more closely with clientsâ back office processes provides banks the opportunity to increase customer retention and grow revenue.
With Paymode-X, bank customers and their suppliers realize dramatic savings in processing costs by converting to electronic payments and remittance information. The migration away from manual paper processes to electronic allows bank customer to better control and predict their cash, improve performance metrics and strengthen their supplier relationships. More predicable cash flow means better cash forecasting and optimized working capital for all parties involved. For banks, Paymode-X offers the opportunity to provide new cash management capabilities to its prospects and customers that extend into servicing the clientâs supply chain, providing substantial market differentiation.
âBottomline is continually finding new, innovative ways to more deeply connect leading banks to their most important clients,â said Eric Campbell, Bottomlineâs chief technology officer. âThe integration of Paymode-X functionality into WebSeries will help banks grow and increase profitability by helping their customers cut costs and increase efficiencies.â
Reducing the circulation of paper payments has a positive effect on businessâ 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 Bottomlineâs âThink Greenâ Awards.
Bottomline will be exhibiting in booth #C106 at Sibos, Oct. 25-29, 2010 in Amsterdam.