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

Panasonic Offers New Bundles with SMB Expense-Management Company 'Neat'

Panasonic System Communications Company of North America has announced the availability for its new data management software and workgroup scanner bundles that include SMB expense management company Neat's capabilities. [ Read More ]
05/28/2015

CollaborateMD Helps Medical Practices with Growing Patient Receivables

Anyone who has visited a doctor's office, or has spoken to a healthcare practitioner, knows that a top-of-mind concern of medical practitioners is getting paid in a timely manner. It is clear when visiting an office that whether it is the routine of first handing over insurance info or providing a credit card if insurance does not cover a visit or procedure that obtaining assurance of timely payment for services rendered is not just a challenge but a growing one based on the way things used to b… [ Read More ]
05/21/2015

Epicor and e2b teknologies Announce Hosted Accounts Receivable Software

The cloud and hosted applications are no strangers, it seems, to any market. One of the most recent additions to the global collection of hosted applications comes from Epicor with its Cash Collect accounts receivable software. [ Read More ]
05/20/2015

Accounting Technology the Source of Most CFO Concerns

According to a recent survey conducted by Robert Half International (RHI), a majority of chief financial officers (CFO) cited technology related issues as the single greatest pressure facing their accounting function. While all industries are more or less subject to advances in technology, accounting is even more deeply affected. [ Read More ]
05/12/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!