Citibank Licenses e-Billing Software to BP.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 15, 2002 Citibank e-Business, a unit of Citigroup (NYSE NYSE See: New York Stock Exchange :C), the premier global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, announced today that it has licensed its Citibank e-Billing B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business software to the global energy company BP p.l.c. The U.S. division of Air BP began using Citibank e-Billing B2B in August to invoice customers. Air BP supplies aviation fuels and lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. to the aviation industry as well as technical services and engineering consulting. BP plans to make Citibank e-Billing B2B software available to its other commercial businesses in the coming months. Citibank e-Billing B2B is powered by 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), a leading global technology provider of 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 ) software. Citibank e-Billing B2B provides BP a comprehensive end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. including online presentment and payment, automated workflow and online billing correction. With Citibank e-Billing, companies can present invoices to their customers, who can then make adjustments, obtain approvals and process the bill for payment--all online. Immediate access to invoice information online allows customers to reduce their costs as well as the time associated with paper-based billing and payment. "Through this interactive, secured protected system, BP continues to deliver on its objectives of standardizing and simplifying practices by migrating to Web-based solutions, where appropriate and increasing operating efficiencies," stated Laura Peterson, Assistant Treasurer BP Corporation North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Inc. "BP understands that Internet products will offer significant improvements upon traditional paper-based systems. We also recognize that by streamlining the entire invoicing process we extend these benefits to our customers." "E-Billing Web-enables legacy billing and receivable systems, simplifies complexities in the billing process and maximizes efficiencies for companies and their customers," said Jose-Luis Brown, Director of Citibank e-Billing B2B. "BP's customers will now be able to have a single, secured transaction point for the entire electronic invoice presentment and payment process." About BP BP is a global energy company with businesses in over 100 countries worldwide. Their businesses include, Oil and Gas Exploration and Production, Gas and Power Marketing, Refining and Marketing of Oil and Gas, Chemicals and Solar Energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. . BP has been a leader and an early adopter of e-business solutions producing quality improvements and providing lower costs to their customers. Additional information may be found at www.bp.com . About Citigroup Citigroup (NYSE: C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services company with some 190 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers. Additional information may be found at: www.citigroup.com . About Citibank e-Business Citibank e-Business provides solutions that empower corporations and financial institutions globally to connect to the Web, transform their business using Internet-related technologies and extend their reach to new markets. Our solutions support our customers as they integrate their Internet-based exchanges, software solutions, logistics, and financial services with existing, end-to-end, liquidity management, investment, cash management and trade finance processes. Additional information may be found at: www.e-business.citibank.com . About Bottomline Technologies Bottomline Technologies(R) (NASDAQ: EPAY) is a leading global technology provider of Financial Resource Management (FRM) software. 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. |
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