Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that its business-to-business settlement network, Paymode-X, has surpassed 200,000 members actively exchanging electronic payment and remittance data.
Paymode-X network growth is due to the many benefits it provides to both payers and vendors. Payers accelerate the conversion of paper to electronic payments and optimize working capital. Vendors enjoy predictability of cash flow, unlimited digital remittance information and a streamlined receivables process.
Paymode-X is an established community of enrolled members representing a cross-section of industries: healthcare, manufacturing, insurance, real estate, wholesale and retail trade, consumer and business services, public administration and more. With a continually expanding vendor base and an increasing global reach, Paymode-X is well positioned to be the clear choice for payment and invoice automation.
“The achievement of this important milestone confirms the unique and innovative value of Paymode-X,” said Rob Eberle, President and CEO of Bottomline. “We are committed to driving the continued growth of this strategic platform for our clients and partners.”
Eliminating paper payable processes presents significant opportunities for cost savings and allows organizations to reduce their environmental impact.