Paymode-X: Your Best Option for Order-to-Pay Automation

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1 Paymode-X: The Largest Business-to-Business Payments and Invoicing Network

2 Paymode-X: Your Best Option for Order-to-Pay Automation Why Automate Your Order-to-Pay Process? Order-to-Pay automation frees up cash lost in inefficient, paper-based processes so it can be applied to strategic initiatives within your business. It empowers Treasury, Procurement and other finance professionals to access and act on financial supply chain information in real-time so they can: Capitalize on opportunities to capture early payment discounts Make strategic payment timing decisions Control spend Manage supplier relationships Gain visibility to cash flows for accurate forecasting Optimize working capital Maximize profits Reduce carbon footprint Why Automate with Paymode-X? Paymode-X is the largest and fastest-growing electronic order-to-pay network and makes the paper-to-electronic migration fast, easy and affordable. Companies can present PO s, receive and approve invoices and make payments with unlimited digital remittance through the secure, Web-based Paymode-X portal. The modular solution lets companies tackle automation in a way that fits their needs. Robust functionality, a large existing network and included support services ensure rapid adoption and return on investment. Paper-to-Electronic Conversion Starts Instantly with 140,000+ Member Network With more than 140,000 companies enrolled in the Paymode-X network and more joining every day, your company can convert a portion of your paper-based invoices and payments to electronic immediately. Most new buyer companies find that one in three of their suppliers are already enrolled in the Paymode-X network, providing instant cost savings and carbon footprint reduction. Included Services Make Conversion Easy & Accelerate ROI Paymode-X takes the paper-to-electronic migration effort off of your company so your employees can remain focused on their real jobs. Included supplier on-boarding support tailored to the unique needs of your business means accelerated adoption and maximum cost-savings. Our on-boarding experts take a consultative approach and analyze your vendor master file to recommend which suppliers should be targeted for electronic payments and/or invoices, and high-touch enrollment campaigns are executed on your company s behalf. Paymode-X clients typically convert 50-70% of their payments to electronic within the first weeks of implementation, and support continues over the life of your Paymode-X relationship. Paymode-X also handles NoCs and payment returns and fields supplier inquiries for you. Purchase Orders Invoices More Than 140,000 Members Payments e-remittance Integration With Existing Systems & Banks Means No Business Process Re-Engineering Delivered via Software-as-a-Service, Paymode-X eliminates the expense and hassle of hardware installation and upgrade fees. Our robust file-mapping capabilities ensure integration with your existing ERP and financial systems, dramatically reducing the implementation and support burden on IT. Paymode-X is also a completely bank-neutral solution debiting or crediting accounts at any bank so both you and your suppliers can maintain your existing relationships. Matching, Workflow & Approval Early Payment Discounts Companies can present PO s, receive and approve invoices and make payments with unlimited digital remittance through one secure, Web-based portal.

3 Industry-Leading e-payments for Flexibility, Security and Savings Industry experts know that electronic payment processes save companies an average of $3 per payment over mailing paper checks, but obstacles like supplier adoption, security concerns, implementation and integration issues or handling of NoCs and payment returns have prevented many companies from converting. Making electronic payments with rich digital remittance detail is easy when you use Paymode-X. Buyers simply log-on to the portal and submit any payment file type to initiate a payment. Payments can be approved or stopped in Paymode-X per business requirements. Once a payment is approved, Paymode-X initiates the debiting and crediting of the proper bank accounts and sends e-remittance detail to your suppliers. Users can also use the portal to update account information, review payment status, configure notifications and access custom reports. Multiple Payment Types, Unlimited Remittance Detail Supporting batch and single payments plus an array of payment types, an advantage of Paymode-X is that you need only send a single payment file for payments to be made in your suppliers preferred formats. And, Paymode-X payments are accompanied by unlimited digital remittance, available for delivery in a variety of file types including Excel, CSV, XML, BAI.v2 or 835. Industry-Leading Security for Regulatory Compliance & Fraud Protection Paymode-X is the most fraud-proof electronic payment solution on the market with multiple steps of supplier authentication taken during initial supplier enrollment and unique file-mapping processes. All Paymode-X enrollments, as well as ongoing account changes, are fully authenticated. When account information changes, the Paymode-X team notifies the supplier s Paymode-X account administrator, in case the change was fraudulent. Only authenticated suppliers can be paid with Paymode-X. Further, in order for payments to be processed, payment files initiated by Paymode-X clients must be sent in their own unique format and translated by customized parsers at Bottomline. Additional security features include digital signatures with 2048-bit encryption, client access controls and user-specified transaction limits. Your Suppliers Win, Too Quick, easy enrollment Streamlined invoice submission processes On-demand visibility to invoice and payment status Increased predictability of cash flows Automated payment posting to bank accounts and digital remittance for fast, accurate reconciliation Reduced lockbox, postage and printing costs Strengthened relationships with key customers

4 Electronic Invoicing Customized for the Way You Work Paymode-X for Invoicing is seamlessly integrated with Paymode-X payments solution. Paymode-X for Invoicing, facilitates a faster, easier exchange of electronic PO s and invoices between your organization and its suppliers and creates greater visibility for all. Your company can reduce processing costs and environmental impact, shorten approval cycles for early-payment discount capture, make informed payment timing decisions and strengthen supplier relationships. Flexible Invoice Submission Methods To make the conversion to electronic invoices as pain-free as possible for you and your suppliers, Paymode-X offers a variety of invoice submission methods: flipping purchase orders, file upload, invoice creation via Web entry form or outsourced scanning of paper invoices. The invoice data capture (scanning) service accepts all types of incoming invoices and provides a cost-effective alternative to in-house document scanning and archiving. Electronic invoices or scanned line-item level data are fed directly into the workflow module or an existing ERP for automated matching and approval. Automated Matching and Workflow Paymode-X document matching and workflow offers complete invoice review and approval functionality for buyers. Following data upload and validation, each invoice is matched against existing purchase order data for accuracy and systematic posting of associated General Ledger data. If General Ledger information is included with the purchase order data, or in a separate file that can be matched to inbound invoices, the coding can automatically be completed when the PO-matching is performed. Any mismatches or other non-po supported invoices are routed for coding against the General Ledger structure, according to your company s unique business rules. The workflow engine automatically analyzes and routes data at the line-item level, making it easy to split costs across multiple cost centers or General Ledger codes. Invoice workflow queues also have their own security controls for role-based visibility of data. All workflow actions are tracked within the Paymode-X audit record for maximum compliance. Once validated and approved, invoice data and status is displayed in the portal for suppliers to view, reducing inbound inquiries to Accounts Payable. Dynamic Discounting Industry analysts estimate that companies miss more than one third of pre-negotiated discounts, and that AP automation could improve on-time payments by as much as 59%. When discount terms have not been pre-negotiated, buyers and suppliers can use Paymode-X to initiate discount offers. Buyers can request an early-payment discount on approved invoices, supporting working capital optimization efforts. Suppliers can offer earlypayment discounts beyond negotiated contract allowing for receivables flexibility when needed. A simple, intuitive Web interface provides visibility to all parties and gives privileged users the ability to modify discount rates and terms. Discount offers can be managed at group or individual invoice levels. Key Features PO presentment for online viewing and download Flip of PO s to invoices Supplier invoice creation or submission via Web entry form, file upload or transmission, or paper scan 2- and 3-way matching Electronic review and approval Early-payment discount functionality Collaborative portal for supplier visibility to invoice status PO Presentment Invoice Submission Matching,Workflow & Approval Dynamic Discounting Payment & Remittance Upload purchase orders to present to suppliers electronically Flip PO s Web entry form Scanning & OCR File upload Automated document matching GL-coding Custom workflow & approval routing Tracking for audit records Buyer and supplier initiated discounts Modify & accept terms within the portal Integrated electronic payments Unlimited digital remittance data

5 Benefits Across Your Organization Paymode-X is the largest and fastest-growing electronic order-to-pay network for business with more than 140,000 members enrolled, and more than $300 billion in spend processed. Paymode-X provides customized on-boarding support. A team of implementation specialists will analyze your supplier base and recommend those to target for electronic invoices and/or payments, to accelerate your savings and carbon footprint reduction. Paymode-X users simply log-on to a secure portal to set up or change account information, present PO s, negotiate discounts, approve invoice and initiate and review payments. Paymode-X authenticates and maintains supplier bank account information, eliminating supplier worries that any member of a paying organization can access this sensitive data. Paymode-X provides industry-leading security including: multi-step user authentication; digital signatures with 2048-bit encryption; client access controls; user-specified transaction limits and multi-party security controls. Paymode-X works with your existing ERP and financial systems and can debit or credit accounts at any bank. Paymode-X handles all notices of change and payment returns and is the first line of support for incoming supplier phone calls, eliminating your operational headaches. Paymode-X supports multiple electronic payment types and unlimited remittance detail, and enables batch and single/exception payments. Treasurer Procurement AP Audit IT Optimize working capital Create cash with early-payment discount capture and automation cost-savings Achieve greater control and predictability of cash flows Control spend Seize early-payment discount opportunities Manage and improve supplier relationships Ensure contract and regulatory compliance Improve AP metrics (time to payment, early pay discounts captured, etc.) Reduce inbound supplier inquiries Issue secure, automated payments for reduced risk of errors and fraud Institute checks and balances Track positive pay Avoid escheatment Minimize resources required to support AP automation Ensure secure connectivity and payment transmission Supplier/payment networks were designed as a set-it-and-forget-it solution; a web-based connection between the enterprise and its supplier base encourages a seamless transfer of sensitive payment information and quickens the settlement process. - Aberdeen Group

6 Additional Paymode-X Capabilities Reimburse Employees Faster and Easier Than Ever Reimbursing employees for travel, customer and other company-related expenses can be time-consuming, costly and frustrating for Accounts Payable. Often, different procedures and additional pay runs are required for supplier payments and employee reimbursements. Paymode-X enables employee reimbursements during your regular pay runs. Paymode-X for Reimbursements is designed to work with your existing T&E and accounts payable systems and features the same market-leading security and bank neutrality as our business-to-business solution. Paymode-X for Checks Paymode-X offers outsourced check printing for those payments your company does not convert to electronic, so managing check runs are a thing of the past. Customer Support Live phone support and web support are available. To Learn More Call: Paymode-X@bottomline.com Visit: Corporate Headquarters Portsmouth, NH 03801, USA tel , fax info@bottomline.com Europe, Middle East, Africa Reading, Berkshire RG17JX UK tel fax info@bottomline.co.uk Asia Pacific Hawthorn East, VIC, 3123 Australia tel fax ap_info@bottomlinetechnologies.com.au Copyright 2011 Bottomline Technologies, Inc. All rights reserved. Bottomline Technologies, the BT logo and Paymode-X are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions.