Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced that that the Society for Worldwide Interbank Financial Telecommunication (Swift), the 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 realize dramatic savings by eliminating manual, paper-based processes and to significantly improve cash visibility. By connecting Paymode-XTM , Bottomline's business to business 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."
"We are extremely pleased that our SWIFT connectivity solutions have achieved this recognition," said Eric Campbell , Chief Technology Officer at Bottomline Technologies. "More than ever, our corporate and banking clients look to Bottomline for the most innovative solutions to help provide access to all the benefits SWIFT has to offer. By connecting our solutions and services with the SWIFT network, we hope to drive additional value for our customers and their trading partners around the world."