CVS Corporation, Largest U.S. Drugstore Chain, Selects Bottomline Technologies.Business/Technology Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 21, 2001 Bottomline Technologies(R) (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), the premier provider of Web-enabled billing, payment and electronic banking solutions, today announced that CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corporation has chosen Bottomline's PayBase(R) Universal Payment Engine. PayBase is a multi-payment platform that enables organizations to address all payment needs, from paper checks to electronic transactions. Its scalable architecture is ideal for companies that can benefit from the transition from paper-based to electronic payment processes. In addition, the software incorporates advanced security functions to protect organizations from fraud. PayBase provides a secure, automated financial infrastructure from which to manage enterprise-wide disbursements. Integrated within accounts payable and payroll departments Noun 1. payroll department - the department that determines the amounts of wage or salary due to each employee payroll department, section - a specialized division of a large organization; "you'll find it in the hardware department"; "she got a job in the , PayBase supports multiple concurrent users In computer science, the number of concurrent users for a resource in a location, with the location being a computing network or a single computer, refers to the total number of people using the resource at the same time. and allows for future growth and system expansion as an organization's eCommerce needs evolve. "Our software provides value to customers by centralizing 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. their payment operations and reducing their processing time and costs," remarked 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. . "We are delighted that the nation's leading drugstore chain, CVS Corporation, is utilizing our technology, and we look forward to working with their finance teams to further simplify and improve their money movement processes." Bottomline also enables organizations to move to a fully web-based platform through PayBase WebSeries. WebSeries enables remote payment initiation, reporting and approval without sacrificing 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 and fraud protection. PayBase is a key product in Bottomline's suite of software products for Internet-based invoicing, payments and electronic banking. About Bottomline Technologies Bottomline Technologies(R) (NASDAQ: EPAY) is the leading provider of Web-enabled billing, payment and electronic banking solutions for the business-to-business market. Bottomline's three integrated e-business offerings enable corporations and financial institutions worldwide to integrate, automate, and streamline the entire financial supply chain. PayBase(R) provides a pathway from traditional paper checks to electronic payments, as well as sophisticated messaging, remittance, and anti-fraud tools. NetTransact(TM), the Company's business-to-business bill presentment and payment See EBPP. suite, enables enterprise billers and their trading partners to electronically present, adjudicate adjudicate (  jōō´dikāt´),v , and pay bills on-line. Bottomline's BankQuest(TM) is a corporate and institutional browser-based electronic banking platform that provides information reporting and transactional services for cash management, trade finance, and securities processing. Today, Bottomline's offerings are utilized by over 5,500 organizations representing every major industry sector. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. Bottomline also has satellite offices located in most major cities. For more information, dial (800) 243-2528 or visit Bottomline on the web at www.bottomline.com. 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 2000 and Form 10Q filed February 2001. |
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