Bottomline Technologies (EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced general availability of Paymode-X 2.0 - Vendor View, the first in a series of next generation platform features delivering a unique, unified and rich user experience.
Paymode-X, the largest and fastest growing settlement network, enables Payers to migrate from paper to electronic payments and invoicing while providing Vendors with faster payment and rich electronic remittance data. Serving more than 230,000 members and processing more than $130 billion annually in spend, Paymode-X is quickly becoming the means by which businesses prefer to pay and get paid.
Paymode-X 2.0 takes the network to the next level while continuing to provide the unparalleled security and stability businesses have come to rely on. With Paymode-X 2.0, members can monitor upcoming payments, display payments data graphically or in list views, navigate to payment detail through a single click and connect directly with Payers to obtain additional payment information. Offering a complete turnkey solution, Paymode-X onboarding services drive vendor enrollment, validation of bank and account information and ensure that critical payment information is kept accurate and current throughout the lifetime of the relationship.
"Paymode-X is unique in its ability to facilitate the exchange of financial information between payers and vendors, carry out the settlement, and provide critical information related to those transactions all in a user friendly and intuitive format. By providing comprehensive services, automating processing and reducing manual intervention, Paymode-X supports straight-through processing (STP). Our members are able to reduce and even eliminate resource intensive activities, which contributes to cost reduction and processing consistency," said Jessica Pincomb Moran, Vice President Client Services for Bottomline.
Paymode-X is a cloud-based solution that eliminates the expense of hardware installation and hassle of upgrade fees. Its robust file-mapping capabilities ensure integration with existing ERP and financial systems, dramatically reducing the implementation and support burden on IT. Paymode-X is also bank-neutral — debiting or crediting accounts at any bank — so both Payer and Vendor can maintain their existing relationships.
Paymode-X is currently welcoming Xign customers with a special migration program. Bottomline's program plan and migration tools are designed to ensure a fast and seamless transition. Paymode-X takes a collaborative approach to ensure implementation success. Our modular solution helps companies tackle automation in a way that fits their needs, integrating smoothly with existing back-office systems and bank relationships, which makes it easy to transition from other solutions.