Bottomline Buys TreasuryXpress, Debuts Expanded Treasury Tools

FinTech Bottomline Technologies, which works to help simplify business transactions, has rolled out new, expanded corporate treasury tools, according to a press release.

As part of the expanded capabilities, Bottomline is also acquiring TreasuryXpress, which provides cloud-based treasury management services for corporations and banks, the release stated.

The plan is part of Bottomline’s integrated Payments and Cash Lifecycle program and will give managers the ability to optimize cash, liquidity and working capital, with a unified solution putting together accounts payable (AP), accounts receivable (AR) and treasury management. It will give a better level of visibility and control end to end, according to the release.

With the new solution, users will have access to seamless management of corporate banking, payments and cash management, which will do away with the complexities and friction of multiple systems, including separate systems and fragmented data, the release stated.

The Payments and Cash Lifecycle program comes with tools to initiate and manage payments, automate payments and receivables, conduct cashflow forecasting and scenario planning, optimize liquidity and investment returns, and manage borrowing and banking relationships.

“Businesses need simpler and more integrated solutions that offer better control and management of cash,” Bottomline CEO Rob Eberle said in the release. “At the core of our innovation agenda, we are transforming payments and cash management processes to streamline and simplify the end-to-end cash lifecycle for businesses of all sizes, from SMBs to enterprises. An integrated payables, receivables and treasury management solution is an important innovation, for both corporates and the banks that serve them. Our combination with TreasuryXpress enables us to extend from our leading business payments capabilities to offer a uniquely comprehensive solution across the entire cash management lifecycle.”

Bottomline Technologies collaborated with PYMNTS on a Next-Gen AP Automation Tracker in which it spoke of the way AP automation removes friction. As such, more companies are adopting it all the time.