Company advances sustainability efforts with adoption of electronic payment network
PORTSMOUTH, N.H., May 08, 2019 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, smart and secure, today announced the 2019 Bottomline Technologies Think Green Award is awarded to Taubman Centers, Inc. (NYSE:TCO). The award recognizes businesses that use technology to drive environmentally friendly and sustainable business practices.
"We turned to Bottomline to automate and streamline our entire accounts payables process—all the way from invoice receipt through capture, to matching, to coding and routing for approvals and payment," said Kim Hughes, vice president and controller, Taubman. "Since joining Bottomline's Paymode-X we have converted manually processed paper checks to electronic transactions, totaling millions of dollars in AP spend."
Taubman uses Bottomline's Paymode-X electronic payment network to pay vendors electronically. As a result, payments previously sent as paper checks are no longer printed, mailed, transported and discarded, reducing both environmental impact and hard dollar costs.
"We're always delighted to help organizations like Taubman make their business payments simple, smart and secure," said Rob Eberle, President & CEO of Bottomline Technologies. "Advancing our customers' sustainability goals makes our engagement even more rewarding."
Paymode-X is the largest and fastest-growing B2B electronic payment network, processing over $200 billion per year to more than 400,000 member organizations. Payers and vendors harness the power of this innovative, cloud-based solution to simplify the migration to electronic payments.
"Sustainability is embedded in all we do, from our human resources policies and corporate governance to the planning, construction and operations of our properties," said Robert Taubman, Chairman, President & CEO, Taubman. "In large and small ways, Taubman associates are working to minimize the impacts we have on the environment, while increasing the positive role we play in markets throughout the United States."
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com
About Bottomline Technologies
Bottomline Technologies (NASDAQ:EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.
Director, Marketing Communications
Source: Bottomline Technologies, Inc.