Bottomline Technologies Receives Patent on Payables Automation Functionality
Patented Portal Technology Streamlines Invoice Management Processes
PORTSMOUTH, NH – January 31, 2006 –
Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today announced it has been granted a patent by the United States Patent and Trademark Office for its payables automation technology.
Bottomline's innovative solution for payables automation enables customers to increase the efficiency of their complete purchase-to-pay cycle with end-to-end capabilities for requisitions, invoice receipt, workflow and approval. The company's patent addresses the inevitable compatibility issues between accounting systems and invoice data formats of vendors and payers by translating and reconciling data to be exchanged between parties. By significantly streamlining AP processes in this way, users create more efficient operations, enabling them to optimize working capital, capture vendor discounts and enhance ongoing compliance with regulatory mandates and emerging payments standards.
"With Bottomline's approach to payables automation, organizations can quickly and easily transform accounts payable operations to increase the availability of working capital and significantly reduce risk," said Eric Campbell, Chief Technology Officer, Bottomline Technologies. "By ensuring the intellectual property ownership rights through a patent, we have once again demonstrated our leading and innovative capabilities for payables automation and secured the opportunity to maximize our economic return for many years to come."
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving global payments, transactional documents, invoice approval, purchase-to-pay, collections and cash management. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Company Contact:
Billy Balfour
Bottomline Technologies
603-501-5219
bbalfour@bottomline.com
Back to top