Mercury Private Equity Invests £4.5 m in Burns eCommerce Solutions
Burns develops, licenses and hosts corporate solutions for invoice presentment, e-payment, and supply chain automation. Burns, a family business based in Cheshire, was established in 1989 to provide electronic banking and healthcare systems to large corporations. Over the last five years the company has evolved significantly, offering Internet based, multi currency, B2B e-payment and billing products. The e-payment and e-billing market is growing rapidly and is expected to exceed $1 billion by 2003. Burns has two principal ASP products, Global Payment Portal and Business Exchange. The former allows corporate users to make cross border multi currency e-payments with their customers and suppliers over the web. The latter processes orders from customers and sends back order acknowledgements and invoices. The company’s customer base includes companies such as Royal Bank of Canada, Intel, Heinz, Citibank, Bank of America and Viking Office Stationery.