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Bottomline Technologies launches WebSeries 3.0

24 February 2004  |  652 views  |  0

Bottomline Technologies (NASDAQ: EPAY), a leading global provider of software and services that enable organizations to better manage their financial transactions, today announced the availability of WebSeries® 3.0, the latest version of its payment lifecycle management software. WebSeries is a comprehensive, Web-enabled online payment and financial information management tool that uses client-defined business rules to ensure security and automate control of all payments. By utilizing one consolidated payment gateway, WebSeries alleviates the need for remote check issuing systems to enhance fraud protection and provide timely financial reporting.

Vito Nigro, assistant treasurer, PMA Insurance Group, said, "Bottomline's WebSeries 3.0 provides enterprise access to near real-time payment status information, which helps to streamline customer service and financial reporting functions. Its rules-based workflow reduces tedious and costly manual steps, and the transaction audit trail increases security and helps ensure accountability for all voided checks."

Chip Martin, vice president of product management for Bottomline Technologies, said, "With annual check fraud approaching $14 billion and regulatory issues requiring more stringent risk assessments, organizations are looking for ways to enhance protection. This latest release, WebSeries 3.0, provides automation and consistency across the payment management cycle to improve security, process efficiency and transaction accuracy."

Bottomline's WebSeries application includes a comprehensive set of global payment instruction types that support enterprise payment needs with central control and audit, from paper checks to electronic methods such as ACH, WIRE, BACS and SWIFT message types. WebSeries 3.0 supports shared services environments while accommodating the unique operating needs of remote locations. Electronic workflow and exception management using client-defined business rules enables organizations to ensure the security and control of all payments, including accounts payable, payroll, travel and entertainment, insurance claims payments, dividends, refunds and the associated compliance documents.

WebSeries 3.0 includes a new check management module featuring browser-requested stops, voids, re-issues, payment status and escheatment of paper payments. By consolidating all payment data in one system, WebSeries 3.0 alleviates the need for remote check issuing systems, to enhance fraud protection and provide timely financial reporting. WebSeries provides organizations with up-to-the-minute protection against inadvertent honoring of unsponsored checks by automating the delivery of stop and re-issue data to banks.

Pricing and Availability

WebSeries 3.0 is available immediately. Pricing for WebSeries 3.0 begins at $36,000 USD, and is also available as a hosted, ASP-based licensing model. For more information on Bottomline Technologies products, contact the company at: (800) 472-1321, or via e-mail at: info@bottomline.com or on the Web at: www.bottomline.com.

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