Bottomline Technologies' BACSTEL-IP Customers Surpass 4,000.
Breadth of Product Offerings and Strategic Partnerships Enable Bottomline to Provide Fastest, Most Cost-Effective Path to Compliance before 1 January 2006 Changeover
Bottomline Technologies (NASDAQ:EPAY), a leading provider of payments and invoice automation software and services, today announced that more than 4,000 UK-based organisations have selected the company's BACSTEL-IP solutions to support the new BACS electronic payments standard.
"Since the start of this year, we have seen significant acceleration in the number of companies migrating to the new BACS payments standard, and are pleased with the response to our BACSTEL-IP solutions and services," said Peter Fortune, President of Bottomline Technologies Europe Ltd. "Organisations across all industries are realizing the broader potential for long-term payments processing efficiency gains that BACSTEL-IP represents."
A new payments delivery channel for UK-based businesses, BACSTEL-IP allows users to automate traditional paper-based payment processes. Users of the current BACSTEL system are expected to complete migration to the new standard before it goes into effect on 1 January 2006.
Through its breadth of BACSTEL-IP solutions and strategic partnerships with software vendors serving specific UK vertical markets, Bottomline has emerged at the forefront of helping organisations comply with the new standard.
"The success of our BACSTEL-IP program is a testament to our ability to deliver software and services that offer organisations the fastest, most cost-effective route to compliance," said Ian Armstrong, Head of BACSTEL-IP Migration, Bottomline Technologies Europe. "With the migration window approaching its final five months, we are well positioned to assist those businesses that have yet to migrate to complete the process before the deadline."
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organizations 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, manage and control processes involving payments and collections, invoice approval, cash flow, risk mitigation, reporting and document archive.
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Bottomline Technologies 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.
This press release may contain forward-looking statements 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 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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|Date:||Aug 18, 2005|
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