The new Paymode-X combines Bottomline’s electronic settlement network (formerly PayMode) and electronic invoicing solution (formerly Bottomline Business eXchange).
Combining payments and invoicing into a single platform means organizations can employ Paymode-X for financial supply chain automation. Purchase order distribution, invoice presentment, matching, general ledger coding, approval, purchase order “flip,” prompt pay or dynamic discounting, payment processing and remittance data delivery capabilities can all be accessed from one platform using a single sign-on.
The Paymode-X network encompasses more than 100,000 companies.
Transitioning from paper to electronic processes with Paymode-X aims to reduce costs and optimize working capital. Additionally, corporations, banks and other financial institutions are increasingly turning to electronic payments and invoicing as a way to reduce paper usage and environmental impact.
To provide more information about the order-to-pay features of Paymode-X, Bottomline has launched a related website.
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