For Bottomline Technologies, AI And ML May Not Be Enough

According to a McKinsey report, the global payments market is estimated to grow from $1.9 trillion in 2017 at 9% CAGR to $2.9 trillion by 2022. Portsmouth-based Bottomline Technologies (Nasdaq: EPAY) is a leading player in the B2B world of digital payments.

Bottomline’s Offerings

Bottomline Technologies was set up in 1999 to provide enterprise-wide payment solutions to address the need to migrate enterprises away from pre-printed, paper checks as a payment solution. Since then, the company has come a long way. Its product suite is aimed at providing organizations with access to a single platform that can control, manage, and issue all payments across an enterprise.

Today, Bottomline Technologies helps companies manage and define a business payments strategy that helps simplify the process of business payments. Its solutions help businesses migrate to an electronic secure payments process. Its Paymode-X Payment service helps convert fraud-prone checks to secure electronic payments, allowing organizations to transform their accounts payables segment into a profit center.

It also offers a cyber fraud and risk management solution; a digital banking suite that offers a customer engagement platform coupled with cash management services and analytical tools; an automated invoice processing solution; and a secure financial messaging platform. Overall, its tools help improve payments and cash management processes globally. It also offers solutions focused on the healthcare and legal industry to help manage invoicing, payments, and documentation, all in a secure environment.

Bottomline does not seem to have a lot of competitors. There are several other smaller competitors that offer a limited range of services. For instance, Nvoicepay, an Oregon-based player focuses on the invoice payment process. San Francisco-based Fundbox is focused on the B2B sector but offers a revolving line of credit to help SMBs manage their payments process.

Bottomline’s Financials

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