Cheshire County Council Chooses Bottomline Technologies for Its New BACSTEL-IP Software; PayBase Platform Delivers Security and Process Efficiency Gains.READING, England -- 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 Cheshire County Cheshire County is the name of two counties:
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 electronic payments standard, BACSTEL-IP. A public sector entity, Cheshire County Council's finance office is responsible for ensuring that the financial affairs of the County Council and Cheshire Pension Fund are properly administered through a variety of functions including collections, borrowing, lending and paying creditors. With UK-based organisations facing a 31 December 2005 deadline for migrating to BACSTEL-IP, officials at Cheshire County Council selected PayBase for its security, ease of use, ability to seamlessly integrate with Oracle Financials and overall payments processing efficiency. "Migrating to the new BACSTEL-IP standard in good time was important for Cheshire County Council," said Mike Jones, Technical and Business Support Manager within County Finance Office. "We also had to consider costs and functionality very carefully. As the recognised market leader for BACSTEL-IP solutions and services, Bottomline offered the expertise, competitive pricing and service capabilities necessary to quickly make this project a success." Each year, the Council processes more than 130,000 creditor-related transactions and more than 640,000 transactions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc salary payments. Since implementing PayBase, Cheshire County Council is now able to send multiple BACS payments files in one transmission, rather than on an individual basis, saving them time and bank file charges. Additionally, the Council is able to leverage Bottomline's Bureau Service as a contingency contingency n. an event that might not occur. service to transmit To send data over a communications line. See transfer. payment files to BACS on its behalf if necessary. "Cheshire County Council is a great example of the broader business benefits associated with migrating to the new BACS payments standard," said Peter Fortune, President of Bottomline Technologies Europe. "In selecting Bottomline, Cheshire County Council is able to enjoy new levels of process efficiency and security throughout their finance office. We look forward to continuing to work with the Council in the future to create further cost savings via the process efficiencies our software and services can provide." About Bottomline Technologies Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organisations 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 the world's leading corporations, banks and financial institutions to automate To turn a set of manual steps into an operation that goes by itself. See automation. , 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.co.uk. Bottomline Technologies, PayBase and the BT logo are registered 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 2004, Form 10Q filed May 2005 and any recently filed Form 8K's. |
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