Bottomline Advances Paymode-X AP Automation Solution
AI and user-centric innovations enable next-generation invoice automation and greater AP productivity
PORTSMOUTH, NH (October 1, 2019) – Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, smart and secure, today announced advancements to its invoice automation capabilities within the Paymode-X AP Automation solution. New innovations include invoice data capture powered by artificial intelligence (AI), improved visibility across the invoice-to-pay lifecycle, and an overall enhanced user experience.
Paymode-X Invoice Automation enables organizations to overcome the cost, time, risk, and errors associated with paper invoices and manual processes. It gives accounts payable (AP) professionals the ability to easily digitize all invoices whether they are received on paper or electronically, and automate the invoice lifecycle starting from the time of receipt through approvals.
“Organizations have realized the benefit of taking a holistic, end-to-end, approach when it comes to accounts payable automation,” said Bob Cohen, Research Director at Ardent Partners. “Bottomline’s addition of enhanced invoice automation capabilities to its Paymode-X solution addresses this requirement and is a natural enabler of accounts payable productivity, end-to-end efficiency, and enhanced visibility across all AP operations.”
Bottomline is adding AI-powered data and image capture and validation which will help AP teams reduce manual data entry and correction. Auto-extraction of key invoice information enables the solution to match and validate invoices against POs and other documents in a touchless manner, ultimately boosting productivity. At-a-glance visibility across all AP activity will help customers improve cash management, governance, and audit capabilities. Customers will benefit from an enhanced overall user experience with personalized dashboards that provide contextual help, recommendations based on habitual past actions, and valuable insights into their trading partner network.
“Our innovative invoice automation enhancements combined with our proven payments capabilities provides our customers with an unmatched AP automation solution,” said Bill Wardwell, Vice President of Strategy & Product, Bottomline Technologies. “With seamless ERP connectivity, next generation invoice data capture, intelligent dashboards and full visibility across the invoice-to-pay lifecycle, AP departments will maximize process automation, freeing employees to focus on driving the business forward and increasing organizational value.”
Bottomline is also further streamlining connectivity between the Paymode-X AP Automation solution and customers’ back-office systems by offering plug-and-play connectivity to NetSuite, Sage Intacct, and Microsoft D365 for Finance and Operations. This builds on the established library of APIs and capability to integrate with hundreds of ERPs.
Paymode-X Invoice Automation is part of the Paymode-X AP Automation solution suite, which also includes Paymode-X Integrated Payables that customers use to speed the conversion of costly paper checks to streamlined and secure virtual card and ACH payments. Paymode-X helps AP departments maximize efficiency, visibility, and security by automating the entire invoice-to-pay process. More than 400,000 member businesses use Paymode-X to exchange billions in B2B spend electronically each week.
About Bottomline Technologies:
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.
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