05.10.2005 07:00:00
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Bottomline Technologies Introduces Pan-European Payments and Reporting Capabilities for WebSeries(R) Platform
With widespread changes to global payment standards and thepending introduction of multiple Pan-European Automated ClearingHouses (PEACH), complex and proprietary corporate payment solutionswill quickly lack the flexibility to provide organisations with anefficient and cost-effective payments platform. Based on patentedtechnology, WebSeries allows Bottomline customers to comply withemerging payment standards such as SEPA, improve straight throughprocessing capabilities and provide secure distribution of bankinginformation across multiple banks and payment networks.
"Across Europe, organisations are faced with the costly andtime-consuming task of trying to maintain outdated links to theirbanks and trading partners, which prevents the real-time exchange ofinformation and prohibits centralised visibility into payments-relatedactivities," said Peter Fortune, President of Bottomline TechnologiesEurope. "These connectivity challenges are further exacerbated by theneed for corporate treasurers to manage the cash management functionacross multiple business units, divisions and locations."
By providing enterprise-wide visibility of organizational paymentand balance information, WebSeries enables corporate users toeliminate multiple bank workstations and the labour-intensive manualdata entry processes between payment systems. Through centralisedcontrol and standardisation of global payment processes, corporatetreasurers are able to increase process efficiency, reduce costs andlimit exposure to risk.
"The new Pan-European payments and reporting capabilities ofWebSeries provide Bottomline customers with an innovative paymentsplatform capable of processing payments and information regardless ofbank, payment type or destination country," added Fortune. "At thesame time, WebSeries' scalability ensures that customers will beprepared to accommodate future standards-based payment systems such asEuro Step 2."
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides payments andinvoice automation software and services to organizations seeking moresecure and efficient financial processes. The company remains at theforefront of delivering innovative solutions that complement andextend the value of existing financial processes, businessrelationships and back-office systems. These solutions have enabledthe world's leading corporations, banks and financial institutions toautomate, manage and control processes involving payments andcollections, invoice approval, cash flow, risk mitigation, reportingand document archive. For more information, please visitwww.bottomline.co.uk.
Editors Note: Bottomline will be discussing WebSeries at stand S8during the EuroFinance 2005 Conference and Exhibition, October 5-7,Estrel Convention Center, Berlin. To arrange an onsite meeting,contact Louise Symons at +44 118-982-2403 or visit stand S8.
Bottomline Technologies, WebSeries and the BT logo are registeredtrademarks of Bottomline Technologies, Inc. which may be registered incertain jurisdictions. All other brand/product names are trademarks oftheir respective holders.
Cautionary Language
This press release may contain forward-looking statements thatinvolve risks and uncertainties, including statements regardingexpected benefits of use of the Company's products and future growthor results. Among the important factors which could cause actualresults to differ materially from those in the forward-lookingstatements are competition, market demand, technological change,strategic relationships, recent acquisitions, international operationsand general economic conditions. For additional discussion of factorsthat could impact Bottomline Technologies' financial results, refer tothe Company's Form 10K filed September 2005, Form 10Q filed May 2005and any recently filed Form 8K's.
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