28.03.2007 13:56:00
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Bottomline Technologies Forms Strategic Partnership with Infosys BPO
Bottomline Technologies (NASDAQ: EPAY), a leading provider of
collaborative payment and invoice automation solutions, today announced
that Infosys BPO, the business process outsourcing (BPO) subsidiary of
Infosys Technologies, will integrate Bottomline’s
capabilities for invoice automation into its outsourced services
offering for global corporate clients.
In many financial process outsourcing initiatives, technology has
quickly emerged as a key differentiator, particularly as the global BPO
market becomes more competitive. With industry estimates indicating that
more than 90 percent of finance-oriented outsourcing contracts seek to
include the accounts payable function, the ability to expand
capabilities in this area is critical for outsourcing providers.
Choosing to deploy Bottomline’s invoice
management software capabilities through this partnership will enable
Infosys BPO to bring to market an easy to deploy, cost-effective
alternative to manual, in-house invoice processing for its clients.
"The selection of Bottomline by one of the
world’s largest BPO providers further confirms
our strategy of extending our payment capabilities into a full accounts
payable automation suite,” said Rob Eberle,
President and CEO of Bottomline Technologies. "This
partnership allows us to address outsourcing demand and establish a new
channel for the delivery of our solutions. We’re
excited by the opportunity to work with Infosys BPO, supplying
technologies which can help solve the invoice processing challenges of
their clients.”
Bottomline’s approach to invoice automation,
which combines software for electronic workflow and payment with fully
outsourced services for invoice data capture, enables organizations to
immediately realize the benefits of electronic invoicing by accepting
both electronic and paper invoices. With all invoices represented as
electronic data files, users are not only able to accelerate invoice
approval but gain new levels of insight into departmental spend and the
overall efficiency of working capital.
"In order to drive maximum benefit for our
clients, we partner to provide best-of-breed technology solutions from
companies such as Bottomline,” said Amitabh
Chaudhry, CEO & MD, Infosys BPO. "Accounts
payable represents a non-core, labor-intensive process prime for
outsourcing. Through our partnership with Bottomline, we believe we have
found the right mix of expertise and product capabilities to deliver a
best-in-class approach to transforming this business function.” About Infosys BPO Ltd.
Infosys BPO Ltd (www.infosys.com/bpo),
the business process outsourcing subsidiary of Infosys Technologies, was
set up in 2002. Today, it is ranked among the leading BPO companies in
India by NASSCOM, Dataquest, the International Association of
Outsourcing Professionals, Red Herring, and others. Infosys BPO focuses
on integrated end-to-end outsourcing and delivers transformational
benefits to its clients through reduced costs, ongoing productivity
improvements, and process reengineering. Infosys BPO operates in India,
the Czech Republic, China, and Philippines (through a partner), and
employs about 10,000 people. It closed FY 2005-06 with revenues of $85.5
million.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment
and invoice automation solutions to corporations, financial institutions
and banks around the world. The company’s
solutions are used to streamline, automate and manage processes and
transactions involving global payments, invoice approval,
purchase-to-pay, collections, cash management and document process
automation. Organizations trust these solutions 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 and the BT logo are trademarks of Bottomline
Technologies, Inc. which may be registered in certain jurisdictions. All
other brand/product names are trademarks of their respective holders.
Cautionary Language This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors. Among
the important factors that could cause actual results to differ
materially from those indicated by such 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 10-K filed September 2006, Form 10-Q filed February 2007
and any recently filed Form 8K's. Any forward-looking statements
represent our views only as of today and should not be relied upon as
representing our views as of any subsequent date. We do not assume any
obligation to update any forward-looking statements.
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