Company to Receive Best in Class in All Categories of CEB TowerGroup Report
Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, have announced that Bottomline’s WebSeries® was named a ‘best-in-class’ in all three categories of the CEB TowerGroup 2012 Payables Automation Technology Analysis. WebSeries received a Best in Class ranking in Workflow Automation, Payables Functionality and Enterprise Support.
WebSeries, Bottomline’s industry-leading cash management solution for advanced payment and reporting, enables banks to offer an intuitive and innovative user experience for customers of all sizes. Banks using WebSeries can leverage the solution to grow customer relationships and expand into new markets. WebSeries was recognized by TowerGroup for its strong payables automation functionality combined with the flexibility required by growing financial institutions.
“As electronic transaction volumes and regulatory burdens grow, financial institutions are investing in payments automation solutions to improve cost and compliance management. Corporations are expected to demand greater functionality from payables automation systems over the next few years. Process efficiency is gaining the attention of commercial clients, causing the scope of the role of the Cash Manager/Treasurer to evolve into other core functions of the institution including risk management, international and trade,” according to CEB TowerGroup research director Steve Murphy.
Bottomline has seen demand for its WebSeries solution increase significantly in recent years, particularly from leading banks seeking to establish a competitive edge in the market.
“Bottomline’s goal is to be the leading provider of world-class transaction banking, cash management and commercial payments solutions for the financial industry,” said Norm DeLuca, Managing Director of Global Banking and Financial Services at Bottomline. “The recognition in the CEB TowerGroup report is testimony to our strong execution against this goal. We are delighted to be selected as a ‘Best in Class’ vendor across all of the report’s categories.”