Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice, and digital banking solutions, today announced independent certification for the Prompt Payment Code.
“At Bottomline we are delighted to be certified independently for the Prompt Payment Code as a further commitment to best practices. We lead the UK market in Bacs and Faster Payments solutions and our customers turn to us as trusted advisors on how best to pay and get paid”, said Ed Adshead-Grant, General Manager, Payments. “As a result, our solutions enable businesses to distribute outbound invoices and approve inbound invoices more efficiently than typically expected. Customers can earn early payment discounts or generate approved invoice files to participate in bank-led supplier finance programmes, providing suppliers with vital cash-flow benefits.”
The Prompt Payment Code is a UK government endorsed code of conduct that sets the recognised standard for best practices in payments. Administered by the Chartered Institute of Credit Management, the organisation consists of a range of senior private and public sector representatives who oversee the Code certification process on behalf of the UK Government’s Department for Business Innovation and Skills.
“The major fabric of the UK economy is built up from small businesses feeding the supply chain,” said Lord Digby Jones, the former Director General of the Confederation of British Industry (CBI). “It’s key that larger organisations support their suppliers’ cash-flow fairly to encourage successful long-term trading. Initiatives that support this in this area of business to business payments are always welcomed.” Lord Digby Jones will be a featured keynote speaker at the upcoming Bottomline Technologies Conference on September 22nd in Birmingham.
“Bottomline’s solutions are differentiated by spanning not only payments but also invoice automation,” comments Nigel Savory, Managing Director Bottomline Technologies Global Business Solutions. “This powerful combination enables organisations to accelerate invoice approval and make payment to their suppliers in an efficient and timely manner, supporting their supply chain’s cashflow.”