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Bottomline Technologies (NASDAQ: EPAY) announces a partnership with MRI Software, integrating Paymode-X, its accounts payable automation solution, with MRI's real estate technology platform. This scalable API integration aims to streamline payment processes for real estate companies, enhancing efficiency, reducing costs, and minimizing fraud risks. The partnership is set to improve cash flow by enabling early-pay discounts and maximizing cashback rebates. Paymode-X serves over 450,000 businesses, processing over $250 billion annually, reaffirming its position as a market leader in the ePayables sector.
Bottomline (NASDAQ:EPAY) announces a partnership with SWIFT to integrate an API-based cross-border payment tracking service. This service enhances transparency and provides real-time status updates for cross-border transactions, simplifying the payments workflow for banks and corporate clients. The collaboration allows Bottomline to join SWIFT's Platform Partnership Programme, delivering innovative solutions to the banking sector. Pilot customers are already reporting benefits, which marks a significant milestone for Bottomline in modernizing payment operations.
Bottomline Technologies (NASDAQ: EPAY) has enhanced its Paymode-X payments network, introducing expanded global payment functionality to assist businesses in processing international payments securely and efficiently. This update supports over 450,000 member businesses and facilitates payments exceeding $250 billion annually. The initiative aims to streamline accounts payable processes, improve cash management, and reduce fraud risks, benefiting clients like Carnival Cruise Line. The upgrade aligns with industry trends towards automation and efficiency in finance departments.
Bottomline Technologies (Nasdaq: EPAY) announced a $50 million stock repurchase program, effective for 12 months, aimed at enhancing shareholder value. CEO Rob Eberle emphasized the company's strategic position in the business payments market, highlighting a current run rate of over $400 million in subscription revenue. The buyback will commence immediately and is expected to be completed by year-end, reflecting a disciplined approach to capital deployment.
Bottomline (NASDAQ: EPAY) has launched Bottomline Watchlist Screening (WLS) to enhance transaction screening against international sanctions. This solution, available via a lightweight API, aims to minimize false positives and streamline compliance with AML and KYC regulations. WLS supports real-time screening for financial institutions and corporations, facilitating adherence to global financial regulations. First implementers include leading North American financial institutions and multinational corporations.
Bottomline Technologies (EPAY) reported its fourth quarter and fiscal year results for 2021, revealing subscription revenue of $101 million, a 15% increase year-over-year. Total revenue reached $122.1 million, up 10%. Despite a GAAP net loss of $7.3 million, adjusted EBITDA was $24.2 million, constituting 20% of total revenue. For the fiscal year, total revenue was $471.4 million, a 7% increase. Bottomline aims for sustainable subscription revenue growth of 15-20% in the upcoming year, bolstered by demand in digital banking and payments markets.
Bottomline (NASDAQ:EPAY) will release its fourth quarter and fiscal year 2021 financial results on August 10, 2021, after the market closes. The company, known for simplifying business payments, will host a conference call at 5:00 p.m. EDT to discuss the results. Investors can access the call using the U.S. line at (877) 407-3980 or the international line at (201) 689-8475. A replay will be available from 8:00 p.m. on the same day until midnight on August 17, 2021.
Bottomline (NASDAQ: EPAY) announces that Parcelforce Worldwide received the 2021 Think Green award for its commitment to sustainability through automation. The introduction of PT-X Direct Debit Management has enabled Parcelforce to transition from a manual to an automated payment permission process, enhancing customer onboarding efficiency and minimizing errors. This shift has accelerated revenue collection from 13 days to just 5 days. Bottomline aims to simplify business payments while promoting environmentally friendly practices.
Bottomline (NASDAQ: EPAY) has successfully concluded its Legal Spend Management (LSM) Customer Insights Exchange, attracting over 125 attendees from 80 leading insurance carriers. The two-day virtual event featured guest speaker Daniel Susskind and focused on optimizing legal costs through innovative solutions. LSM solutions support claims litigation, legal eBilling, and bill review processes. The event facilitated discussions on industry developments, best practices, and future product innovations, highlighting Bottomline’s commitment to enhancing customer collaboration in legal spend management.
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