Bottomline Technologies Introduces Legal eXchange(TM) Explorer at Annual Customer Forum on Legal Spend Management
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced Legal eXchange Explorer, a sophisticated new tool enabling users to build upon the strengths of the Legal eXchange platform to enhance bill review, and law firm and matter trend analysis based on specific criteria or business cases. The announcement was made in conjunction with Bottomline’s Legal Spend Management Customer Advisory Board Conference, an annual gathering of executives representing some of the nation’s largest property & casualty insurers and Fortune 500 organizations.
Relied on to provide the visibility and control necessary to drive strategic decisions regarding legal expense management, Legal eXchange is one of the most widely deployed legal spend management solutions today. With 60,000 users and a growing network of more than 5,000 law firms, Legal eXchange’s comprehensive functionality enables users to work collaboratively with outside counsel, increase process efficiencies and improve case handling strategies.
Through the use of Legal eXchange Explorer, users can achieve a more informed approach to managing legal expenses with on-demand capabilities for analyzing line-item data and law firm activity throughout the life of a matter. This “life of matter” view also accelerates invoice review processes by enabling users to more readily identify billing that does not comply with established case management guidelines. With Legal eXchange Explorer, staffing patterns, formula billing, duplicate work and reasonableness of time spent on related activities can easily be factored into matter and law firm analysis.
“As litigation costs rise, corporate counsel and insurance claims professionals are seeking sophisticated but easy-to-use tools for actively managing cases and assisting with law firm selection,” said Karen Fettig, Director of Legal eXchange Product Management, Bottomline Technologies. “With Legal eXchange Explorer, we’ve introduced an advanced tool that can be used to support best-practice ‘life of matter’ bill review, and facilitate the detailed trend analysis customers require to address their cost management challenges.”
In addition to Legal eXchange Explorer, this next-generation release of Bottomline’s solution offers greater support for complex matter management, enabling users to:
— Reduce the potential for human error and ensure proper amounts are paid for cost-share arrangements by automatically applying cost-share percentages to every invoice;
— Improve the management of matters across multiple jurisdictions and venues through supporting views; and
— Quickly and easily determine if expenses or fees have been pro-rated accurately by providing a single view into all invoices across related matters.
Bottomline’s annual Legal Spend Management Customer Advisory Board Conference, convening today in Boston, combines compelling product discussion with customer presentations featuring best-practice scenarios for using Legal eXchange. Among those scheduled to present include representatives from The Hartford, The Hanover Insurance Group and ACUITY.
“Through this conference, we create an interactive forum that provides attendees with the opportunity to exchange ideas and insight into how a legal spend management program can help establish more productive, efficient relationships with outside counsel,” added Fettig. “What sets us apart from other solutions in this marketplace is the combination of our technology, services and on-staff expertise, and the value we place on fostering collaborative relationships with our customers to drive innovation.”
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. 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. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Bottomline Technologies, Legal eXchange and the BT logo are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies’ financial results, refer to the Company’s Form 10-K filed September 2008 and any recently filed Form 8-Ks. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.