States of Jersey Enlists Bottomline Technologies Europe for Added Finance Functionality.Business/Technology Editors READING, England--(BUSINESS WIRE)--Feb. 22, 2002 Bottomline Technologies(R) (Nasdaq: 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 (TM)) software has announced that they will be working with strategic partners, J.D. Edwards (J.D. Edwards & Company, Denver, CO, www.jdedwards.com) A developer of multinational, integrated enterprise software for distribution, finance, human resources, manufacturing and supply chain management. , to provide the States of Jersey The States of Jersey (French: États de Jersey) is the parliament of Jersey. Until December 2005 it also directly exercised executive powers, which have now been removed to the new Chief Minister of Jersey and his cabinet, elected by the States. with an overhaul of their financial systems. Jersey, the largest of the Channel Islands is located just 14 miles from the coast of France and 100 miles south of mainland Britain. The States of Jersey, the Island's government, has an annual revenue expenditure of approximately (pound)400 million with around 1,800 supplier payments per week, it is made up of 37 departments and 7,500 employees. As part of the Island's overall e-Government strategy, the States of Jersey treasury enlisted J.D. Edwards for their One World Xe system. In addition, their commitment to the ongoing development of their financial systems led them to Bottomline's i-Point solution to deliver value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. functionality. Paul Every, head of corporate systems for The States of Jersey said, "It was necessary to find a payment management system that could produce our weekly cheque run and also meet our security requirements. We also sought a product that would provide the opportunity to streamline other areas of our payments management in the future, including supplier 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 payments, electronic posting of remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. advices and employee salary advice via email. Following our investigations, we decided that i-Pay, part of the i-Point platform, fulfilled our immediate requirements and provided opportunities for expansion and integration with other e-Government initiatives." "In the short-term, i-Pay will produce a high volume of laser printed cheques from our own customised paper with security features in place. Eventually, we envisage en·vis·age tr.v. en·vis·aged, en·vis·ag·ing, en·vis·ag·es 1. To conceive an image or a picture of, especially as a future possibility: envisaged a world at peace. 2. working even closer with Bottomline to manage the majority of all our payments electronically, improving the overall efficiency and effectiveness of the process," Mr. Every said. Peter Fortune, president of Bottomline Technologies Europe, commented, "Bottomline's i-Point platform met the States of Jersey's initial requirements for payment functionality and will allow them to improve the whole payment and document process going forward." He continued, "I am delighted that the strategic partnership between Bottomline Technologies and J.D. Edwards announced in December is already being highly valued by our joint customers." About Bottomline Technologies Europe Ltd Bottomline Technologies Europe Ltd, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bottomline Technologies, Inc., a Nasdaq quoted company (ref. EPAY). Bottomline Technologies(R) 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. 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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