Enhanced Data Collection and Global Currency Conversion Address Growing Need for Sophisticated Legal Spend Management
PORTSMOUTH, NH and Chicago - October 29, 2007 - Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today at the Association of Corporate Counsel's 2007 Annual Meeting announced expanded functionality for Legal eXchange. This new release introduces advanced capabilities for conducting more sophisticated analysis of legal spend and support for global currency conversion.
Legal eXchange helps corporate legal and insurance claims departments manage legal spend more efficiently through electronic invoice management. With the ability to access and analyze data electronically, users can collaboratively align and manage budgets and case handling strategies with outside counsel, while also establishing benchmarks from which future performance can be measured. Offering a network of more than 4,000 law firms, Legal eXchange is deployed at many of the nation's top property & casualty insurers and Fortune 500 companies.
For in-house legal departments, the ability to accurately project litigation costs is quickly becoming a point of emphasis, requiring a broader cross-section of matter-related data. Through the use of Legal eXchange's expanded data collection capabilities, users can conduct more comprehensive analysis, comparing legal fees and expenses based on important factors such as venue and plaintiff's counsel. The addition of new capabilities for converting more than 150 foreign currencies allows users to electronically receive invoices from law firms outside of the United States, strengthening their ability to proactively manage legal spend on a global basis.
With the new capabilities announced today, Legal eXchange users can:
o Leverage detailed historical information regarding changes to case budgets to determine how effectively matters are being managed against the budget;
o Work more collaboratively and efficiently with law firms based outside of the U.S. by providing them with the opportunity to submit invoices electronically in their native currency; and
o Further reduce the time required to review and approve invoices through an enhanced user interface.
"We believe that choosing a legal spend management solution is more than just a technology decision. Legal eXchange users appreciate the level of expertise and partnership Bottomline brings to its customer engagements," said Tom Gaillard, Vice President and General Manager of Bottomline Technologies. "These enhancements are representative of our ongoing commitment to working collaboratively with our customers to ensure that they achieve their strategic goals for managing legal spend more efficiently."
Bottomline will be exhibiting in booth 811 at the ACC 2007 Annual Meeting, October 29-31, 2007, at the Hyatt Regency in Chicago. To arrange an on-site meeting, please contact Lisa Clark at 603-501-5112.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment and invoice automation solutions to corporations, financial institutions and banks around the world. The company's solutions are used to streamline, automate and manage processes and transactions involving global payments, invoice approval, purchase-to-pay, collections, cash management and document process automation. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.