Bottomline Platform Helps Banks Deliver 'Greener' Approach to Global Cash Management
Bottomline Technologies has announced that, through the use of its global cash management platform, banks and financial institutions can deliver significant environmental savings to corporate clients through green products and services.
By choosing a banking partner offering cash management products and services through a web-based solution, corporate treasurers can quickly adopt electronic processes for domestic and international payments, and balance and transaction reporting. Eliminating the paper traditionally associated with these processes can have a significant impact on the environment through the conservation of natural resources.
For example, converting just 25% of the average number of business payments issued each month could conserve more than 900 lbs. of paper and prevent the consumption of nearly 11,500 gallons of gasoline.
In addition to electronic processes for domestic and international payments, banks and financial institutions can further promote green practices among corporate clients through a variety of capabilities within Bottomline’s platform. The ability to export cash reporting and payment data into a back-office system, for example, enables clients to conduct the requisite auditing and reconciliation needed without having to consume paper by printing the information. Reducing the amount of paper consumed can also be attained by leveraging the platform to deliver payments remittance information directly to their billing partner.
Bottomline has also expanded functionality for its WebSeries Global Cash Management platform, introducing new, dynamic capabilities for payment transactions and cash reporting.
With this new functionality, the company says that global banks and financial institutions can offer corporate clients advanced capabilities for constructing user-defined reports that support Web 2.0 best practices. Reports can now be tailored to support the informational requirements of individual job functions by ‘dragging and dropping’ columns, performing arithmetic functions, linking directly to transaction detail from within the reporting tool as well as provide cross-payment trending information. By providing corporate clients with greater control over how reports are compiled, formatted and shared with other users, banks can enable their clients to take a more active role in ‘mining’ the information required to make better decisions concerning their cash management.