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Greystone Healthcare Management Selects Paymode-X to Pay Vendors Electronically

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and digital banking solutions today announced that Greystone Healthcare Management has selected Bottomline’s Paymode-X payment network to automate their vendor payments.

Before selecting Paymode-X, Greystone processed thousands of checks per week that required manual review and postal preparation to more than 3,000 vendors. The nature of their healthcare management business further complicated the AP process, with payments made on behalf of more than 45 locations across nearly 100 bank accounts. While Greystone considered multiple options for payment automation including in-house ACH and accounts payable (AP) cards, their key solution selection criteria was ensuring that payment processing would become more secure and efficient for their vendors.

“We looked at a variety of options but chose the Paymode-X payment network because it integrated easily with our bank accounts and had a large, established network of vendors,” said Tom Paget, Controller, Greystone Healthcare Management. “The efficiency of Paymode-X also benefits our vendors, as payments and remittance details are delivered electronically.”

Paymode-X facilitates the online exchange of electronic payments and remittance advices between payers and vendors – all in a user-friendly and intuitive format. Paymode-X is one of the world’s largest business-to-business payment networks with more than 300,000 members. A growing number of companies, including many healthcare organizations, use Paymode-X to migrate from paper to electronic payments and gain efficiencies.

“We are delighted to work with Greystone and their vendors,” said Jessica Moran, General Manager of Cloud Payment Solutions at Bottomline Technologies. “Paymode-X benefits both payers and vendors and we appreciate Greystone recognizing this in their decision.”