Bottomline and Wipro Technologies Form Strategic Partnership to Deliver Best-of-Breed Corporate Payments and Global Cash Management Solutions
Partnership Leverages Joint Market Opportunities Across the Globe
PORTSMOUTH, NH – September 19, 2007 –
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today announced a strategic partnership agreement with Wipro Technologies, the global IT services arm of Wipro Limited (NYSE: WIT), to provide best-of-breed corporate payments and global cash management solutions to banks, financial institutions and corporations based on Bottomline’s WebSeries® platform.
Through this strategic agreement, Bottomline and Wipro Technologies, one of the world’s largest providers of integrated business and process solutions, will work jointly to identify opportunities in which the capabilities of both organizations can be used to help customers and prospects address the complexities of enterprise payments and transaction reporting. Wipro has established customer relationships across multiple vertical industries with leading organizations.
“We believe that delivering outstanding service to our customers begins with the right balance of software and services to address their most urgent business needs in a timely and cost-effective fashion,” said Sriram Srinivasan, Vice President - Banking & Financial Services at Wipro Technologies. “With Bottomline Technologies as our preferred provider for global cash management software, we will be able to increase the value we deliver to client engagements by helping customers to deploy innovative payment and cash management products and services faster.”
WebSeries forms the nucleus of Bottomline’s corporate payments and global cash management solutions and is deployed across the globe by leading organizations including Fifth Third Bancorp, Paramount Pictures, UMB and Raymond James. Based on patented technology, this modular platform enables users to significantly improve straight-through processing for all payment types, while enhancing payment-related security controls and reporting, and increasing visibility into the entire payments cycle.
“The combination of our WebSeries software and payment expertise with the capabilities of one of the world’s largest providers of IT services creates a compelling value proposition,” said Mike McGurl, Vice President of Business Development for Bottomline Technologies. “This partnership will allow Bottomline to expand its global service capabilities and number of prospective customers, while providing Wipro with proven technology to address the growing demand among its large bank and corporate clients for complex payment and transaction reporting functionality.”
About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services organization globally. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS’ are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com , www.wiprocorporate.com.
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 and transactions involving global payments, invoice approval, purchase-to-pay, collections, cash management and document process automation. 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
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