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The Company markets and provides electronic payment and invoice solutions to corporations, financial institutions and banks.
Bottomline Technologies Inc. (BTI) is a leading provider of electronic payment and invoice solutions to corporations, financial institutions and banks worldwide. It offers software designed to run on-site at the customer's location, as well as hosted solutions. The company's solutions are used to streamline, automate and manage processes and transactions involving global payments, invoice approval, purchase-to-pay, collections, cash management and document process automation.BTI has successfully maintained its reputation of best treasury and cash management provider for third consecutive year. At the end of second quarter for fiscal 2007, its half way through its year of transition, as they launched major new strategic direction and product offering and at the same time transitioned its revenue model for this new product set to recurring subscription and transaction-based model. Revenue for second quarter have increased by 14% to 29.7 million reflecting higher banking solutions segment sales and increase in annual recurring revenues. Moreover, cash position increased to 65 millions and it will continue with its buyback program.The company’s new accounts payable automation software has received a great reception in market and is also witnessing strong demand from bank and financial institutions. During fiscal 2007, many big clients like Bank of America and Franklin Templeton were added to kitty. Over 90% of invoices sent by businesses are still paper. Electronic payment seems to be next big thing with companies as it makes process speedier at low cost. BTI is uniquely positioned to lead the transition from paper-to-electronic and capitalize on this multi-billion-dollar market opportunity. Thus, with good performance of existing products and with few products in pipeline combined with market potential makes this stock to watch out for.
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