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

Leading Global Engineering Firm Deploys Kofax Solution

A leading global engineering firm based in Europe has selected Kofax solutions to automate its accounts payable. [ Read More ]
07/30/2014

Krones AG Selects Invoiceware International to Implement Electronic Invoicing Compliance in Brazil

Brazilian regulatory compliance laws are changing, with the hard-copy nota fiscal (invoice) that companies have traditionally used being replaced by its electronic counterpart-the Nota Fiscal Eletronica (NF-e). [ Read More ]
07/28/2014

Accenture Recognized as Leader in the Field

Accenture, global management consulting, technology services and outsourcing company, has recently been positioned as a Leader according to Gartner's Magic Quadrant for Finance and Accounting BPO. [ Read More ]
07/28/2014

LocateSmarter Reveals Features of New Online Skip Tracing Application

LocateSmarter, LLC, a new online batch skip tracing application has recently announced its patent-pending features. LocateSmarter is a subsidiary of CBE Companies, founded in 2012 as a Business-Process-as-a-Service (BPaaS) company. It works to improve efficiency of batch skip tracing by sending your records to several data providers at once-with LocateSmarter you can send your files to one centralized location and receive information from multiple sources. [ Read More ]
07/23/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!