Once enrolled in the network, suppliers can receive electronic payments from their customers using the network, achieve enhanced accounts receivable processes and visibility to cash flow.
The PayMode network allows for electronic payments and invoicing on a Software as a Service (SaaS) platform.Transitioning from paper to electronic processes with PayMode aims to assist companies in lowering costs optimizing working capital. Additionally, corporations, banks and financial institutions are increasingly turning to electronic payments and invoicing as a way to reduce paper usage and lessen their environmental impact.
Bottomline acquired PayMode from Bank of America in 2009. At that time, the two organizations entered a multi-year agreement to deliver solutions for integrated payables automation.
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