Bottomline Advances Paymode-X AP Automation Solution
01 October 2019 - 11:00PM
Bottomline Technologies (NASDAQ:EPAY), a leading provider of
financial technology that helps make business payments simple,
smart and secure, today announced advancements to its invoice
automation capabilities within the Paymode-X AP Automation
solution. New innovations include invoice data capture powered by
artificial intelligence (AI), improved visibility across the
invoice-to-pay lifecycle, and an overall enhanced user experience.
Paymode-X Invoice Automation enables organizations to overcome
the cost, time, risk, and errors associated with paper invoices and
manual processes. It gives accounts payable (AP) professionals the
ability to easily digitize all invoices whether they are received
on paper or electronically, and automate the invoice lifecycle
starting from the time of receipt through approvals.
“Organizations have realized the benefit of taking a holistic,
end-to-end, approach when it comes to accounts payable automation,”
said Bob Cohen, Research Director at Ardent Partners. “Bottomline’s
addition of enhanced invoice automation capabilities to its
Paymode-X solution addresses this requirement and is a natural
enabler of accounts payable productivity, end-to-end efficiency,
and enhanced visibility across all AP operations.”
Bottomline is adding AI-powered data and image capture and
validation which will help AP teams reduce manual data entry and
correction. Auto-extraction of key invoice information enables the
solution to match and validate invoices against POs and other
documents in a touchless manner, ultimately boosting productivity.
At-a-glance visibility across all AP activity will help customers
improve cash management, governance, and audit capabilities.
Customers will benefit from an enhanced overall user experience
with personalized dashboards that provide contextual help,
recommendations based on habitual past actions, and valuable
insights into their trading partner network.
“Our innovative invoice automation enhancements combined with
our proven payments capabilities provides our customers with an
unmatched AP automation solution,” said Bill Wardwell, Vice
President of Strategy & Product, Bottomline Technologies. “With
seamless ERP connectivity, next generation invoice data capture,
intelligent dashboards and full visibility across the
invoice-to-pay lifecycle, AP departments will maximize process
automation, freeing employees to focus on driving the business
forward and increasing organizational value.”
Bottomline is also further streamlining connectivity between the
Paymode-X AP Automation solution and customers’ back-office systems
by offering plug-and-play connectivity to NetSuite, Sage Intacct,
and Microsoft D365 for Finance and Operations. This builds on the
established library of APIs and capability to integrate with
hundreds of ERPs.
Paymode-X Invoice Automation is part of the Paymode-X AP
Automation solution suite, which also includes Paymode-X Integrated
Payables that customers use to speed the conversion of costly paper
checks to streamlined and secure virtual card and ACH payments.
Paymode-X helps AP departments maximize efficiency, visibility, and
security by automating the entire invoice-to-pay process.
More than 400,000 member businesses use Paymode-X to exchange
billions in B2B spend electronically each week.
About Bottomline Technologies: Bottomline Technologies (NASDAQ:
EPAY) helps make complex business payments simple, smart, and
secure. Corporations and banks rely on Bottomline for domestic and
international payments, efficient cash management, automated
workflows for payment processing and bill review, and state of the
art fraud detection, behavioral analytics and regulatory compliance
solutions. Thousands of corporations around the world benefit from
Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline
delights customers through offices across the U.S., Europe, and
Asia-Pacific. For more information visit www.bottomline.com.
Media Contact:Gemma WaiteDirector, Marketing Communications
Bottomline Technologies 603.501.6537 gemma.waite@bottomline.com
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