Bottomline Technologies a leading provider of financial technology that helps make business payments simple, smart and secure, today announced its expanded capabilities with machine learning, enabling Vendors to pay and get paid smarter and faster using its Paymode-X Intelligent Engagement Model.
“Vendor adoption is the most critical success factor when it comes to converting to electronic payments,” said Jessica Moran, General Manager, Cloud Payment Solutions, Bottomline Technologies. “Asking an AP team to sell Vendors on the benefits of electronic payments while gathering and validating bank account information decreases efficiencies and productivity – that’s where Paymode-X’s Intelligent Engagement Model comes in.”
The Paymode-X Intelligent Engagement Model is a proprietary Vendor enablement methodology that accelerates automation and financial returns. As the only predictive Vendor enablement solution, the Paymode-X Intelligent Engagement Model uses advanced data science, predictive forecasting and a proven enablement strategy to segment, enroll, and authenticate Vendors with unrivaled speed and accuracy.
According to the Association for Financial Professionals, 84% of organizations identify high overall payment costs as a driver for automation. The Paymode-X Intelligent Engagement Model combines technology and processes to prioritize and expedite Vendor enrollment, so Accounts Payable departments can focus on what they need to – their business.
“The Paymode-X Intelligent Engagement Model leverages predictive analytics to revolutionize electronic payments adoption, easing supplier onboarding and providing insight to enable cash flow forecasting,” said Moran. “There’s simply no room for convoluted workflows, sluggish business processes, or worse yet, guesswork in today’s competitive environment. That’s where Paymode-X Intelligent Engagement Model proves to be a real advantage.”