Bottomline Technologies Strengths, Domain Expertise, and Key Differentiators
Bottomline Technologies provides corporations and financial institutions with cloud-based solutions for payments, invoices, and banking. The company's offerings aim to enhance efficiency by automating and managing various processes and transactions such as global payments, invoice handling, approval workflows, collections, treasury and cash management, risk mitigation, document management, reporting, and document archiving.
A significant portion of Bottomline Technologies' products is now delivered as Software as a Service (SaaS), with a subscription and transaction-based payment model. Corporate clients leverage these solutions to automate payment and accounts payable processes, as well as to optimize the creation and storage of electronic documents.
In addition to these services, the company specializes in legal spend management solutions, automating the receipt and review of legal invoices for insurance companies and other large corporate consumers of external legal services. Furthermore, Bottomline Technologies provides solutions for banks, enabling them to offer cash management and treasury capabilities to their business customers. Lastly, the company's document automation solutions assist organizations in automating paper-intensive processes related to the generation of transactional and supply chain documents.
Bottomline Technologies Recent Developments
May 2023 saw Bottomline unveiling a strategic alliance with Knowit, a digital services provider catering to banks and businesses in the Nordic region. This collaboration amalgamates Knowit's robust local presence and expertise in systems integration within the Nordic market with Bottomline's extensive capabilities and international experience in payments, messaging, and connectivity.
In April 2022, Bottomline Technologies revealed a strategic collaboration with FISCAL Technologies to provide NXG Forensics supplier risk intelligence solutions. Supplier Risk Intelligence (SRI) encompasses ongoing analysis and surveillance of each supplier and transaction, facilitated by cutting-edge software crafted to detect and safeguard businesses from Procure-to-Pay risks. The platform has recently been enhanced to include continuous sanction monitoring, catering to the requirements of organizations seeking protection against various risk types, both internal and external.
Bottomline introduced Pay Direct, a novel Open Banking payment initiation service that provides companies with a more streamlined and cost-effective method for receiving online payments from customers.
Bottomline Technologies Mergers and Acquisitions (M&A) Activities
In September 2022, Bottomline successfully acquired Nexus Systems, a provider of accounts payable (AP) and payments automation software tailored for the real estate and property management sectors.
In May 2022, Bottomline Technologies declared the finalization of its acquisition by Thoma Bravo, a software investment firm, through an all-cash transaction valued at around $2.6 billion. The agreement, which was initially disclosed on December 17, 2021, received approval from Bottomline stockholders.
Bottomline Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Bottomline Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Bottomline Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Bottomline PT-X, customers.
Bottomline Technologies Overview
100 International Drive, Suite 200
Portsmouth, NH, 3801, United States
1 603-436 0700
https://www.bottomline.com/
Ownership: - Thoma Bravo
Number of Employees: 2500
Functional Markets: Collaboration, Content Management, ERP Financial, ERP Services and Operations, Procurement, TRM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Bottomline Technologies Key Enterprise and Cloud Applications
Bottomline PT-X,
Bottomline Technologies Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Bottomline Technologies Revenue Breakdown By Type, $M:
Bottomline Technologies Enterprise Applications Revenues By Functional Markets, $M:
Bottomline Technologies Enterprise Applications Revenues By Verticals, $M:
Bottomline Technologies Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Bottomline Technologies Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Bottomline Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Bottomline Technologies Customers
No. of Bottomline Technologies Customers: 800000
No. of Bottomline Technologies Enterprise Applications Customers: x
No. of Bottomline Technologies Cloud Customers: x
No. of Bottomline Technologies Cloud Subscribers: x
Bottomline serves a vast customer base exceeding 800,000, with 3,000 utilizing the vendor's payment and invoice automation services on a subscription basis. Among its clientele are 1,200 banks, 13 of the top 25 insurance companies, 400 commercial and business banks, and over 1,500 healthcare organizations.
Notable organizations, including Bank of America Merrill Lynch, Berkley Risk Administrators, British Telecommunications plc., Capital One, Cedars-Sinai, CIBC, Cigna Corporation, Citizens Bank, Cleveland Clinic, Deutsche Bank, Franklin Templeton Investments, Fidelity Investments, HCA Healthcare, HSBC, Johnson Controls, Inc., JPMorgan Chase, Lloyds Bank, Metro Bank, Regions Financial Corporation, Santander Bank, Starling Bank, State Farm Insurance, Tesco Stores Ltd., The Hartford, Vodafone, and Zurich American Insurance Company, rely on Bottomline Technologies for their services.
Bottomline Technologies Market Opportunities, M&A and Geo Expansions
In February 2024, Bottomline introduced upgrades to its technology, aimed at assisting both banks and non-banking financial institutions in effectively monitoring, detecting, and preventing fraud within their operations. This improved solution empowers organizations to optimize the utilization of data visualizations, threat profiles, and advanced case management strategies to combat insider fraud more effectively.
In April 2023, Bottomline revealed a fresh collaboration with Datadog, the platform known for monitoring and securing cloud applications. Datadog brings together metrics, traces, logs, and other crucial elements, aiding organizations in scaling their cloud environments, identifying potential issues, and ensuring outstanding digital experiences for their customers. Through the Datadog Marketplace, Datadog customers gain access to distinctive technology integrations, fostering increased customization and flexibility.
In January 2023, Bottomline introduced a fresh suite of fraud defense tools tailored for companies. Accessible directly to businesses, Bottomline’s Confirmation of Payee (CoP) for Business aims to enhance security by validating the identity of the recipient's bank account owner, offering improved protection against potential fraud.
Bottomline Technologies Risks and Challenges
Like many other providers of banking software, Bottomline continues to face challenges in maintaining its position within a rapidly consolidating banking industry, marked by a decline in the number of US banks over the past 15 years. Furthermore, the ongoing process of transitioning existing customers from on-premise, perpetual licenses to Bottomline's Cloud-based systems is still underway.
Bottomline Technologies Ecosystem, Partners, Resellers and SI
In March, Knowit, a digital services provider catering to banks and businesses in the Nordic region, entered into a partnership with Bottomline. This collaboration brings together Knowit's robust local presence and expertise in systems integration within the Nordic market, complemented by Bottomline's extensive capabilities and international experience in payments, messaging, and connectivity.
Bottomline employs a dual approach to market and sell its products – directly through its sales force and indirectly through a diverse array of channel partners and reseller relationships.
Among its resellers are key players such as All Star Software Systems, Agility Business Solutions, Atlantic Technologies, AX Consultants, Azur Group, Basys, Blue Horseshoe, Caribbean Technical Services, CenterField Software, Cole Systems, Consysta, ePartners, Evergreen Data Systems, Full Speed Systems Group, Green Beacon Solutions, Host Access Solutions, Information and Computing Services, IRISCO du Québec, Jigsaw Services, Junction Solutions, Litco Systems, Khety Software, Konica Business Technologies, M2, mcaConnect, Minerva, PCF Print Management Limited, Pyxis Consulting Group, Rosetta Technologies Corporation, S&I Business Applications, Sikich, Solugenix Corporation, SYSteam Applications AB, TeamCain, Tectura, Twofold, United ERP, Xerox Connection, AMX International, Dynamic Systems Solutions, Greenlight BTS, Ideaca, Intelligent Output Solutions, Maximum Computer Systems, Network Integration Services, Soltre Technology, VoluForms, WhiteLight Group, and others.
In addition, Bottomline has forged strategic partnerships with industry leaders like Wipro Technologies, Oracle, IBM, Microsoft, SAP, Cognizant, Bank of America, Business Objects, McKesson, Infor Extensity, InsureWorx, Fujitsu's Glovia, Access, Activant Eclipse, Automatic Data Processing, Epicor Software, Infor, Reynolds and Reynolds, SunGard Public Sector, and others.
Bottomline Technologies Cloud Infrastructure Insights
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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