Bottomline Technologies (NASDAQ:EPAY), a leading provider of cloud-based payment, invoice and digital banking solutions today announced that Greystone Healthcare Management has selected Bottomline’s Paymode-X payment network to automate their vendor payments.
Before selecting Paymode-X, Greystone processed thousands of checks per week that required manual review and postal preparation to more than 3,000 vendors. The nature of their healthcare management business further complicated the AP process, with payments made on behalf of more than 45 locations across nearly 100 bank accounts. While Greystone considered multiple options for payment automation including in-house ACH and accounts payable (AP) cards, their key solution selection criteria was ensuring that payment processing would become more secure and efficient for their vendors.
“We looked at a variety of options but chose the Paymode-X payment network because it integrated easily with our bank accounts and had a large, established network of vendors,” said Tom Paget, Controller, Greystone Healthcare Management. “The efficiency of Paymode-X also benefits our vendors, as payments and remittance details are delivered electronically.”
Paymode-X facilitates the online exchange of electronic payments and remittance advices between payers and vendors – all in a user-friendly and intuitive format. Paymode-X is one of the world’s largest business-to-business payment networks with more than 300,000 members. A growing number of companies, including many healthcare organizations, use Paymode-X to migrate from paper to electronic payments and gain efficiencies.
“We are delighted to work with Greystone and their vendors,” said Jessica Moran, General Manager of Cloud Payment Solutions at Bottomline Technologies. “Paymode-X benefits both payers and vendors and we appreciate Greystone recognizing this in their decision.”
About Greystone Healthcare Management Corp.
Greystone Healthcare Management Corp., headquartered in Tampa, FL, manages award winning skilled nursing and assisted living communities, outpatient rehabilitation and home health services, private duty services and hospice care. The Greystone Health Network encompasses more than 45 locations throughout Florida and Ohio. Greystone provides quality health care when and where their patients need it. www.greystonehealth.com
About Bottomline Technologies
Bottomline Technologies (NASDAQ:EPAY) powers mission-critical business transactions. We help our customers optimize financially-oriented operations and build deeper customer and partner relationships by providing a trusted and easy-to-use set of cloud-based digital banking, fraud prevention, payment, financial document, insurance, and healthcare solutions. Over 10,000 corporations, financial institutions, and banks benefit from Bottomline solutions. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Bottomline Technologies and the Bottomline Technologies logo are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements reflecting our expectations about our ability to execute on our growth plans. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “look forward”, “confident”, “estimates” and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors including, among others, competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies’ operational and financial results, refer to our Form 10-K for the fiscal year ended June 30, 2014 and any subsequently filed Form 10-Q’s and Form 8-K’s or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
Contact for Media:
Christine Nurnberger
Bottomline Technologies
603.812.3742
cnurnberger@bottomline.com
