September 22, 2011 10:30 AM Eastern Daylight Time
Banks and Corporates Benefit from Improved Efficiencies and Working Capital Optimization
Sibos 2011
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Bottomline Technologies (NASDAQ: EPAY) today announced it has gone live with a secure, real-time solution for sending and receiving invoices electronically via the global SWIFT network. E-invoicing presents a significant opportunity for banks and their corporate customers to streamline paper-laden processes and reduce costs while increasing visibility into the financial supply chain.
“This implementation demonstrates how collaboration between banks, their customers and industry providers can create true cross-border invoicing solutions utilizing standards supported by SWIFT, creating a win for all contributing parties. Banks who participate can create and sustain a competitive advantage and drive new revenue streams.”
UK-based Bottomline customer Spirax Sarco is leveraging Bottomline’s SWIFT Access Service to exchange e-invoices via SWIFT with a Finnish customer. This is the first time that the SWIFT network has been used for the automated exchange of invoices between buyer and supplier through their service providers. Unlike using SWIFT for payments, with the right service provider and banking partnerships, corporates who are not SWIFT members can leverage SWIFT’s new e-invoicing standards and network.
“Bottomline is uniquely positioned to facilitate e-invoicing,” said Eric Campbell, CTO. “This implementation demonstrates how collaboration between banks, their customers and industry providers can create true cross-border invoicing solutions utilizing standards supported by SWIFT, creating a win for all contributing parties. Banks who participate can create and sustain a competitive advantage and drive new revenue streams.”
Editorial Note: Bottomline will be exhibiting in booth #L117 at Sibos, Sept. 19-23, 2011 in Toronto. For more information or to arrange an on-site meeting, please contact Heather Bridges athbridges@bottomline.com or visit www.bottomline.com/sibos. Join Bottomline’s Marcus Hughes at 11:00 am today in Community Room 3 for “E-Invoicing – Banks and Non-Banks Pushing for Interoperability”.
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 payments, invoicing, global cash management, supply chain finance and transactional documents. 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.
