Bottomline Appointed as SWIFT Service Provider for E-invoices
SWIFT, a global provider of secure financial messaging services, has approved Bottomline to send and receive electronic invoices as a service provider over the SWIFT network. This recognition enables new capabilities for Bottomline’s SWIFT Access Service by permitting the transfer of electronic invoicing (e-invoicing) messages across the world’s largest financial messaging network.
E-invoicing allows corporations and their suppliers to realise dramatic savings by eliminating manual, paper-based processes and to significantly improve cash visibility. By connecting Paymode-X, Bottomline’s business-to-business (B2B) payments and invoicing network, to SWIFT, banks can send and receive e-invoices on behalf of any non-SWIFT members that are part of the Paymode-X network, opening up new opportunities for supply chain financing.
“We are delighted to see Bottomline, a valued SWIFT partner, demonstrate its commitment to playing a key role in SWIFT’s e-invoicing initiative,” said André Casterman, head of trade and supply chain at SWIFT. “We believe this collaboration will help us drive market adoption of this international project.”