Email Press Release   Printer Friendly Version

Bottomline Technologies Expands Strategic Relationship with HSBC

Company's Accounts Payable Automation Capabilities to Power New HSBC-Branded Invoice Management Service

PORTSMOUTH, NH – May 23, 2006 – Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today announced that HSBC Bank will integrate Bottomline's invoice automation services into a new HSBC-branded solution to streamline the accounts payable functions of its corporate customers.

HSBC is one of the world's largest banking and financial services organizations. Designed for its more than 1,100 Corporate Investment Banking & Markets (CIBM) customers, HSBC's new outsourced Accounts Payable Integration invoice management service is the latest in a series of engagements between HSBC and Bottomline focused on enhancing the financial process efficiency of HSBC's corporate customers. By leveraging Bottomline's secure, state-of-the-art Transaction Centers, the service offers HSBC customers a cost-effective alternative to traditional in-house invoice imaging, data capture and archiving.

"The relationship that Bottomline shares with HSBC continues to present us with new opportunities to deliver our product capabilities on a recurring revenue basis," said Peter Fortune, President of Bottomline Technologies Europe. "In choosing Bottomline to power this initiative, HSBC is able to deliver greater value to their CIBM customers through unlocking working capital in the supply chain, and ultimately strengthening their position as a market leader."

The first offering in a new suite of accounts payable solutions by HSBC, the Accounts Payable Integration invoice management service employs a flexible, transaction-based pricing model which enables firms of all sizes and complexity to eliminate labor-intensive invoice data capture processes without incurring additional infrastructure costs. Providing the ability to quickly and accurately extract line-item data from all types of invoices, the solution converts essential information into a standardized electronic format that can be fed directly into an ERP system, invoice management solution or electronic archive. With this service, HSBC's CIBM customers will be able to reduce the amount of time required to process invoices from five-to-10 days to less than 24 hours.

Back to top