Source: Bottomline
Bottomline Technologies (NASDAQ: EPAY), a leading global technology provider of financial Business Process Management (fBPM) software and managed services, today announced that it has entered into an agreement with Intuit Limited to provide UK QuickBooks users with an integrated, Bottomline-powered payment service for BACSTEL-IP.
Under the terms of this agreement, QuickBooks 2005 users will now be able to transfer funds via BACS, taking advantage of the significant cost and process efficiencies over other payment methods. QuickBooks 2005 users will be able to make payroll, supplier and expense payments through BACS using Bottomline's market-leading subscription service. Since introducing its BACSTEL-IP payment subscription service in early 2004, Bottomline has signed up more than 1,900 organizations.
"We are delighted to be partnered with the recognised leader in business payments solutions," said Susan Lazareff, Country Manager, Intuit UK. "Our QuickBooks 2005 customers gain many advantages from this partnership with Bottomline, including the business efficiency and reduced cost of processing payments via BACS. Additionally, QuickBooks users are able to file payroll information directly with the Inland Revenue service, achieving savings through the electronic settlement of outstanding taxes."
"The integration of Bottomline's BACSTEL-IP subscription service into this popular accounting package for small- and medium-sized businesses is a first in the UK," said Paul Fannon, Managing Director of Bottomline's UK Transactional Services Division. "This new service for QuickBooks extends the benefits of BACS to a broader segment of business users, seeking to replace traditional cheque or fax pay services with electronic payments."