Group drives sustainability with switch from paper to electronic payments PORTSMOUTH, N.H., May 08, 2018 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, ...
Group drives sustainability with switch from paper to electronic payments
PORTSMOUTH, N.H., May 08, 2018 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, smart and secure, today announced that it has awarded Washington Prime Group the 2018 Bottomline Technologies Think Green Award. The Award recognizes organizations that use technology to drive environmentally friendly and sustainable business practices.
Washington Prime Group uses Bottomline's Paymode-X payment network to pay vendors electronically. As a result, tens of thousands of payments previously sent as paper checks are now sent electronically - they are no longer printed, mailed, transported and discarded, saving both environmental impact and hard dollar costs.
"To date, the adoption of Paymode-X enables us to pay 65% of our target Vendors electronically, and we're working closely with Bottomline's Vendor Enrollment Team to increase that percentage," said Jim O'Harra, Director of Accounts Payable, Washington Prime Group. "It's had a huge impact on our efficiency and sustainability initiatives."
The use of paper checks can be expensive, labor intensive and prone to fraud. In contrast, electronic payments are efficient, secure and reduce environmental impact.
"We're always pleased to help organizations like Washington Prime Group make their business payments simple, smart and secure," said Rob Eberle, CEO of Bottomline Technologies. "Advancing their sustainability goals makes our engagement even more rewarding. We're proud to be a payments solution partner associated with Washington Prime Group, and we look forward to working with them in the future."
Paymode-X is the largest and fastest-growing B2B electronic payment network, processing over $200 billion per year to more than 385,000 member organizations. Payers and Vendors harness the power of this innovative, cloud-based solution to simplify the migration to electronic payments.
"We're proud to receive this award from Bottomline and look forward to continuing the partnership to achieve our business goals," said O'Harra.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.
About Bottomline Technologies
Bottomline Technologies (NASDAQ:EPAY) helps businesses make complex business payments simple, smart and secure. Businesses and banks rely on Bottomline for domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review and state of the art fraud detection, behavioral analytics and regulatory compliance. Headquartered in Portsmouth, New Hampshire, we delight our customers through offices across the United States, Europe, and Asia-Pacific. Businesses around the world depend on Bottomline solutions to help them pay and get paid, including some of the world's largest systemic banks, private and publicly traded companies and Insurers. For more information, visit www.bottomline.com.
Director, Marketing Communications
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Source: Bottomline Technologies, Inc. via Globenewswire
Source(s) : Bottomline Technologies, Inc.
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