Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today at the Association for Financial Professionals’ Annual Conference announced the availability of WebSeries 5.0, the next-generation of the company’s comprehensive platform for automating enterprise payments origination, processing and reporting.
The adoption of electronic payments continues to accelerate as the use of checks decreases. According to research compiled by NACHA, a leading electronic payments association, the number of business initiated electronic payments has now surpassed 7 billion. Bottomline’s WebSeries platform enables corporate finance departments and shared service centers to adopt electronic payment processes through support for paper and electronic disbursements, providing the flexibility, functionality and control required to manage payment processes and reporting from a single Web-based platform.
Based on patented technology, WebSeries integrates with industry-leading ERP financial applications, enabling users to consolidate and manage processing of all payment types and transaction information enterprise-wide, including sophisticated multi-bank reporting for a single view of global cash balances. Through the advanced capabilities inherent in WebSeries, corporations and shared service centers can quickly reduce costs per transaction, ensure a high rate of straight-through processing for domestic and international payments, and mitigate exposure to risk.
With WebSeries 5.0, corporate finance departments and shared service centers can introduce greater levels of efficiency into enterprise payment processes by:
- Automatically identifying and reconciling payment exceptions with advanced ACH notification of change and returns capabilities to increase straight-through processing rates;
- Establishing a central group of users with the ability to take action on behalf of other geographically dispersed users or groups to ensure transactions are uninterrupted and occur as scheduled; and
- Extending the capabilities of industry-leading ERP and other payment systems to consolidate processing and transaction information for all payment types through a single user interface.
“As the need for real-time visibility into cash positions and regulatory pressures accelerate the transition away from paper-based payments, improving straight-through processing rates and creating a global view of cash is a top priority for corporate finance departments and shared service centers,” said Chip Martin, Vice President of Bottomline Technologies. “Bottomline possesses a rich heritage of helping corporations achieve their payments goals and WebSeries 5.0 is an ideal platform for organizations seeking more timely access to transaction data and a higher level of security, oversight and control of enterprise payment processes.”
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