Bottomline's Legal eXchange(TM) Selected by Commerce Insurance; Industry-Proven Solution Allows Insurer to Create Best Practices Approach for Managing Legal Spend.PORTSMOUTH, N.H. -- Bottomline Technologies (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EPAY), a leading provider of payments and invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. automation software and services, today announced that the Commerce Insurance Company has selected Legal eXchange to automate To turn a set of manual steps into an operation that goes by itself. See automation. its legal invoice management processes and increase visibility into all areas of legal spend. Legal eXchange seamlessly integrates with the most widely deployed claims management and time and billing systems to provide instant access to the critical financial information central to managing insurance claims. The powerful combination of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. invoice routing and a sophisticated rules engine allows insurance claims and corporate legal departments to establish more efficient invoice management processes and gain new levels of insight into key legal spend factors such as budgeting, expense monitoring and outside counsel performance. "As an organization, we are constantly looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways in which we can improve the efficiency of core processes. With Bottomline as a strategic partner for our litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. management initiative, we will be able to draw upon their vast expertise, particularly as it relates to property and casualty insurers, to help shape a best practices approach for managing legal spend that is best suited for our business," said Emile Riendeau, Assistant Vice President of Litigation, Commerce Insurance Company. Massachusetts-based Commerce Insurance Company, the state's largest writer of automobile, home and commercial automobile insurance, is among a growing number of property and casualty insurers to have selected Bottomline's Legal eXchange solution. Six of the nation's Top 20 property and casualty insurers rely on Legal eXchange to provide instant access to the critical financial information surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. the allocation of outside counsel spend. In deploying Legal eXchange, these insurers are able to leverage the cost savings gained through more efficient legal spend management to help maintain profitability. "As operational and competitive pressures mount, property and casualty insurers have been among the earliest adopters of legal spend management solutions such as Legal eXchange," said Tom Gaillard, Vice President and General Manager, Bottomline Technologies. "Both the process efficiency gains and new approaches formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. for proactively managing matters have played an important role in helping these organizations to strengthen their positions in the marketplace. We look forward to working closely with Commerce Insurance to achieve equally successful results." About Bottomline Technologies Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organizations seeking more secure and efficient financial processes. The company remains at the forefront of delivering innovative solutions that complement and extend the value of existing financial processes, business relationships and back-office systems. These solutions have enabled industry-leading corporations, banks and financial institutions to automate, manage and control processes involving payments and collections, invoice approval, cash flow, risk mitigation MITIGATION. To make less rigorous or penal. 2. Crimes are frequently committed under circumstances which are not justifiable nor excusable, yet they show that the offender has been greatly tempted; as, for example, when a starving man steals bread to satisfy , reporting and document archive. For more information, please visit www.bottomline.com. Bottomline Technologies, Legal eXchange and the BT logo are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders. Cautionary Language This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2005, Form 10Q filed May 2006 and any recently filed Form 8K's. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion