Bottomline Announces Expanded Capabilities for Accounts Payable Automation
Bottomline Technologies has launched Business eXchange, an interactive online portal to help buyer organizations work more collaboratively with suppliers to reduce transaction costs and accelerate the transition from paper to electronic invoices. The accounts payable automation solution combines invoice data capture services with modular software components for electronic invoice workflow and payments to increase the efficiency of the accounts payable function. Bottomline claims that its solution helps organizations to approve invoices more quickly, reduce spend and more efficiently initiate and control payments. By providing suppliers with the capability to upload invoices directly to the portal or submit them as paper to Bottomline’s Invoice Data Capture Service, buyer organizations can achieve higher electronic invoicing adoption rates, and reduce processing costs associated with handling supplier inquiries and discrepancies. Through faster approval processes, buyers can proactively pursue early settlement discounts with suppliers and supply chain finance opportunities with third-party financiers.