Bottomline Technologies’ Paymode-X™ Network Surpasses 140,000 Suppliers

Expanding Network Demonstrates Customer Demand for Order-to-Pay Capabilities

Bottomline Technologies (NASDAQ: EPAY) today announced that Paymode-X™, its business-to-business payments and invoicing network, has added its 140,000th supplier. The network size helps Paymode-X customers realize immediate benefits with the majority of their strategic suppliers typically already enrolled and able to invoice and receive payments electronically through Bottomline’s order-to-pay solution.

For Paymode-X customers , the solution automates invoice workflows including receipt, review and approval processes while enabling electronic payments to the 140,000 suppliers on the network. Removing paper from accounts payables processes allows customers to optimize their working capital by gaining better visibility into their supply chain and cash flows, reducing costs and increasing efficiencies.

When enrolled in the Paymode-X network, suppliers gain access to electronic invoicing and approval processes, plus the ability to receive electronic payments and rich remittance information. This functionality streamlines the reconciliation process, increases predictability of cash flow and enables access to remittance data.

“Paymode-X enables organizations of all sizes to revolutionize their payments and invoicing processes,” said Rob Eberle, Bottomline’s President and CEO. “The scale of the Paymode-X network, combined with our proven on-boarding process, helps customers see an immediate benefit from the service. We continue to invest in the platform and the network as we bring forth new and innovative programs to market.”

Eliminating paper payable processes presents significant opportunities for cost savings as well as allowing organizations to reduce their environmental impact.

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