PORTSMOUTH, N.H.--()--Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that Bottomline’s WebSeries® was named a ‘best-in-class’ in all three categories of the CEB TowerGroup 2012 Payables Automation Technology Analysis. WebSeries received a Best in Class ranking in Workflow Automation, Payables Functionality and Enterprise Support.
“The recognition in the CEB TowerGroup report is testimony to our strong execution against this goal. We are delighted to be selected as a ‘Best in Class’ vendor across all of the report’s categories.”
WebSeries, Bottomline’s industry-leading cash management solution for advanced payment and reporting, enables banks to offer an intuitive and innovative user experience for customers of all sizes. Banks using WebSeries can leverage the solution to grow customer relationships and expand into new markets. WebSeries was recognized by TowerGroup for its strong payables automation functionality combined with the flexibility required by growing financial institutions.
“As electronic transaction volumes and regulatory burdens grow, financial institutions are investing in payments automation solutions to improve cost and compliance management. Corporations are expected to demand greater functionality from payables automation systems over the next few years. Process efficiency is gaining the attention of commercial clients, causing the scope of the role of the Cash Manager/Treasurer to evolve into other core functions of the institution including risk management, international and trade,” according to CEB TowerGroup research director Steve Murphy.
Bottomline has seen demand for its WebSeries solution increase significantly in recent years, particularly from leading banks seeking to establish a competitive edge in the market.
“Bottomline’s goal is to be the leading provider of world-class transaction banking, cash management and commercial payments solutions for the financial industry,” said Norm DeLuca, Managing Director of Global Banking and Financial Services at Bottomline. “The recognition in the CEB TowerGroup report is testimony to our strong execution against this goal. We are delighted to be selected as a ‘Best in Class’ vendor across all of the report’s categories.”
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Bottomline Technologies, WebSeries and the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders.
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CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated “best in class.” CEB TowerGroup research publications consist of the opinions of CEB TowerGroup’s analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words “will”, “believes,” “plans,” “anticipates,” “expects,” “look forward”, “estimates” and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of these and other factors that could impact Bottomline Technologies' financial results, refer to the company's Form 10-K for the fiscal year ended June 30, 2012 and any subsequently filed Form 10-Q’s and Form 8-K’s or amendments thereto. Any forward-looking statements represent Bottomline’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Bottomline does not assume any obligation to update any forward-looking statements.