CardWeb.com’s CardData database of Company Profiles today features Bottomline Technologies.
Bank of America Merrill Lynch has introduced its “Paymode-X” iPad application for its clients utilizing the all-digital online payment and invoicing system. This offers real-time access to critical corporate payments information and allows users to stay connected and informed, make decisions, and take the actions needed to ensure that their payment and settlement cycles continue to flow smoothly. The iPad release is the most recent innovation for Paymode-X, and is the first phase of a comprehensive set of mobile capabilities that BofA Merrill, in collaboration with Bottomline Technologies, plans to bring to market. The “Paymode-X” solution combines electronic purchase order submission, invoicing and payment settlement on a single platform.
Bottomline Technologies cloud-based payment, invoice and banking solutions, announced its “Paymode-X” business-to-business settlement network now serves over 185,000 vendors. The “Paymode-X” solution now allows payers to conduct e-payments to the more than 185,000 vendors on the network and take advantage of comprehensive accounts payable automation. It streamlines the reconciliation process, increases predictability of cash flow and enables access to critical business data. Eliminating paper payable processes also presents significant opportunities for cost savings and allows organizations to reduce their environmental impact.
Bottomline Technologies collaborative payment, invoice and document automation solutions, announced that Financial-i magazine has recognized the company’s electronic invoicing solution in its annual Leaders in Innovation Awards as 2011’s most innovative e-invoicing product. Bottomline was selected by the publication’s award advisory panel, which includes industry consultants, practitioners and analysts from Tower Group, Celent and other firms. Electronic invoicing provides an opportunity for banks, their customers and technology providers to collaborate, automate paper-intensive processes and reduce costs. By leveraging industry standards such as SWIFT, organizations can create cross-border e-invoicing solutions that facilitate global business, improve working capital optimization and increase visibility into the financial supply chain.
Bottomline Technologies collaborative payment solutions has acquired UK-based Direct Debit Limited (DDL) payments automation software for direct debits for corporations, banks, financial institutions and government organizations. This improves inbound cash flow and reduces days sales outstanding. This also expands Bottomline’s transaction banking portfolio and allows banks to offer white-labeled receivables management solutions to their corporate customers. Bottomline helps banks differentiate their portfolio by offering transaction banking solutions to their customers, thereby enhancing relationships, driving transaction revenues and increasing profitability.
PVD sputter system provider Oerlikon Systems, has received a multiple tool
purchase order from the world’s largest semiconductor foundry for its
CLUSTERLINE 300II systems. These contracts augment recent orders
received from key semiconductor manufacturers in South Korea and Taiwan
for the same CLUSTERLINE 300mm systems aimed at the packaging market.
The growing success of the CLUSTERLINE 300II, a cluster tool
specifically designed for advanced packaging and backside metallization
(for wafer sizes up to 300mm), is due to key competitive advantages. The
quick qualification processes and better ‘cost of ownership’ parameters
back-up the ‘best in class’ technology claims made by Oerlikon support
teams. Partnership with DKSH Taiwan as additional success factor
Another important factor in the success of the CLUSTERLINE concerns the
local support teams. Since May 2009, DKSH Taiwan has managed all
marketing, sales and service activities for Oerlikon Systems in the
vital Taiwan market. The DKSH Taiwan team works closely together with
the Oerlikon product managers and development teams in order to provide
complete production solutions to existing and potential Oerlikon clients
Payment solution provider Bottomline Technologies will acquire
the travel commission payments service of Bank of America.
Bottomline will serve these travel clients through the “PayMode” electronic network for payment and invoice automation.
Bank of America will continue to provide
commission service to clients until their transition to PayMode. Clients
will receive the same levels of customer service and functionality
theyâre accustomed to, as well as gaining robust remittance reporting,
enhanced delivery capabilities, and the ability to pay other suppliers
within PayModeâs network of more than 90,000 members.
The BofA clients will upgrade to PayMode, the worldâs
fastest-growing business-to-business payment network, later this year.
This acquisition builds on the strategic work Bank of America and
Bottomline have forged to leverage the strengths and technologies of
Payment technology provider Bottomline Technologies has acquired
Bank of America’s “Paymode” and will reposition it as an SaaS to enhance the payment network.
Bottomline Technologies will acquire the “PayMode” product,
operations and vendor network. In addition to continuing to market “PayMode”
to new clients, Bank of America will retain existing “PayMode” client
relationships and join Bottomlineâs Strategic Advisory Council. The bank
will also have an equity interest in the company via warrants for one
million Bottomline shares. Bank of America and Bottomline will deliver next
generation solutions for integrated payables automation, enabling
businesses to capitalize on the two organizationsâ shared vision for
automated business-to-business electronic invoice and payment processing
and remittance data delivery. With 80,000 vendors, “PayMode” is one of the
largest and fastest-growing business-to-business payments networks
operating today. The relationship will leverage Bottomlineâs experience
with SaaS solutions including its advanced invoice management workflow,
global payment platforms and innovative cash management offerings used
by leading corporations around the globe.