Accounts Receivable Management Featured Article

Bottomline Gets Clearance to Acquire Albany Software

September 05, 2012

Bottomline Technologies (News - Alert), a provider of cloud-based payment, invoice and banking solutions, has gained regulatory clearance to acquire Albany Software Ltd. for approximately $32 million – a purchase for which it applied back in March.

U.K. payments are processed and distributed by a central body called Bacs, a not-for-profit organization owned by 16 leading banks and building societies.

Formed in 1989, Albany Software is a Bacs-Approved software supplier, and has been developing financial solutions for over 20 years. Aimed at streamlining back office processes, the company’s solutions integrate with all accounting and payroll applications.

As a Bacs-Approved software supplier and bureau, Albany Software works closely with relevant industry bodies, partners and resellers to develop high-quality solutions that meet the needs of U.K. businesses.

Albany’s solutions are used by more than 5,000 businesses to streamline, automate and manage processes involving the collection of direct debits and electronic payments.

“We are delighted that we have been cleared to proceed with this acquisition,” said Nigel Savory, managing director of Bottomline.

“The combination of our businesses represents an opportunity to realize operating synergies and accelerate our cloud innovations for businesses of all sizes,” Savory added. “We are excited to welcome Albany clients to Bottomline and are fully committed to their success.”

The projected financial impact of the acquisition was included in Bottomline’s recently issued fiscal 2013 guidance.

Headquartered in the U.S., Bottomline Technologies’ solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital.

Bottomline Technologies recently announced its partnership deal with Australia and New Zealand Banking Group (ANZ) to launch ANZ Transactive - Mobile, a corporate banking solution that allows ANZ corporate clients of all sizes, in any industry to gain greater visibility and control of their Australian and New Zealand cash management activities on the go.


Want to learn more about the latest in communications and technology? Then be sure to attend
ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Braden Becker

Article comments powered by Disqus

Related Accounts Receivable Management Articles

Invoiceware International Expands SAP Hybrid Cloud Service to Support Peru SUNAT

An important aspect of accounts receivable management (ARM) and the automation of all financial trnasactions of account management is e-invoicing. This is not just a challenge in developed countries but is global and touches a host of vertical markets. An illustration is the announcement by Invoiceware International, a leading provider in Latin America of electronic invoicing and fiscal reporting solutions, that it is expanding to support companies required by Peru's tax authority to rollout ele… [ Read More ]
02/25/2015

New York State Senate Bill to make it Illegal for Debt Collectors and Creditors to Use Social Media for Collections

I you are like me and saw a version of the headline above, you wanted to learn more. And, while the introduction in the New York State Senate of Bill 3803 has only its sponsor Senator Kevin Parker (D-Brooklyn) on it thus far and has gone to the Senate's Consumer Protection Committee where it faces an uncertain future to say the least, the consequences of this should it gain traction are enormous. [ Read More ]
02/24/2015

Top Image Solutions and Hanse Orge Partner to Extend Accounts Receivable Automation

Top Image Solutions and Hanse Orge have joined forces to create ARM solutions for ERP environments including SAP. [ Read More ]
02/18/2015

Noble Systems to Provide Contact Center Software for Gulf Coast Collection Bureau

Noble Systems is working with the Gulf Coast Collection Bureau on an accounts receivable management solution for healthcare providers. [ Read More ]
02/18/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!