Bottomline Technologies' PayBase Pays Off for UK Enterprises and Financial Institutions Five Months After Its Launch.Business/Technology Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--April 1, 2002 Bottomline Europe sells to 42 customers, records more than $1 million in revenue as customers embrace UK's first secure distributed payment management system Large U.K. corporations and financial institutions have quickly adopted Bottomline Technologies'(R) (Nasdaq: EPAY) PayBase(R) laser check printing system, purchasing more than $1.8 million of the product since its introduction in the region last October, Bottomline announced today. The PayBase Universal Payment Engine is the first payment automation system in the UK that combines distributed payment capabilities (among satellite or remote offices) and the ability to manage all of those distributed payments in one centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. view. PayBase addresses a growing need in the UK to replace traditionally separate check printing systems for each satellite office with one system, to achieve centralized control 1. In air defense, the control mode whereby a higher echelon makes direct target assignments to fire units. 2. In joint air operations, placing within one commander the responsibility and authority for planning, directing, and coordinating a military operation or group/category of while enabling distributed payment output. Doing so saves the time and cost of managing disparate systems and consolidates enterprise-wide payment processing. In five months, financial managers at 42 organizations have taken advantage of Bottomline's technology to have one, real-time view of all of their check payments so they have a clear picture of their organization's cash position. Bottomline Europe is selling PayBase as an add-on module to its i-Point Financial Resource Management (FRM FRM From FRM Form FRM Fixed-Rate Mortgage FRM Financial Risk Manager (GARP) FRM Fondation pour la Recherche Médicale FRM Financial Resource Management FRM Final Rulemaking FRM Fiber-Reinforced Metal FRM Federal Reference Methods ) platform in the UK. i-Point automates payment and collection management and ties into a company's enterprise resource management (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) or accounting system. It provides a secure, streamlined flow of financial management data to authorized users authorized user Radiation physics A person who, having satisfied the applicable training and experience requirements, is granted authority to order radioactive material and accepts responsibility for its safe receipt, storage, use, transfer and disposal throughout the organization. By integrating PayBase into the i-Point platform, organizations can now better safeguard against overextending the company's assets because their financial managers can see up-to-the-minute reports on what checks have been paid across the enterprise. The addition of PayBase expands the payment breadth of the i-Point platform, which already includes the Bankers Automated Clearing Services (BACS BACS Bankers Automated Clearing System BACS Banks Automated Clearing System BACS British Association for Canadian Studies BACS British Association for Chemical Specialities BACS Bachelor of Arts Community Studies BACS Bachelor of Administrative and Commercial Studies ) standard for electronic payments. The i-Point platform also provides electronic remittance messaging tools, in lieu of a printed remittance advice, resulting in totally paper-less electronic payments. "Our UK customers have demanded a payment engine that provides secure payments initiation at distributed business locations, while allowing for centralized system In telecommunications, a centralized system is one in which most communications are routed through one or more major central hubs. Such a system allows certain functions to be concentrated in the system's hubs, freeing up resources in the peripheral units. maintenance and control," said Dan McGurl, Bottomline's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Integrating PayBase with i-Point lets us offer new enterprise-wide payment automation capabilities that satisfy this need. PayBase's advanced security features dramatically reduce the risk of fraud while streamlining payment generation and processing." About Bottomline Technologies Bottomline Technologies (Nasdaq: EPAY) is a leading global technology provider of Financial Resource Management (FRM) software and services. Bottomline's comprehensive Suite of FRM offerings enable businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the Web. FRM Applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP EIPP Electronic Invoice Payment and Presentment EIPP Electronic Invoice Presentment and Payment ), Electronic Banking and Information Reporting. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. For more information, visit Bottomline on the Web at www.bottomline.com, or dial (800) 243-2528 or (603) 436-0700. 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 2001 and Form 10Q filed February 2002. |
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