Medius Embeds Paymode, New Buyers Access to Bottomline's Business Payments Network
Medius, a leading provider of autonomous AP solutions, and Bottomline, a global leader in business payments, announced a strategic partnership that adds Bottomline’s business payments network, Paymode, to the Medius solution.
The Medius platform is a suite of spend management applications that help modernize and accelerate invoicing and payments. It relies on artificial intelligence (AI) for digital transformation of spend management, helping to modernize over 4,000 customers globally.
Paymode is a leading business payments network that allows businesses to make and receive payments using secure digital methods. This network is a highly complementary addition to Medius’ virtual card functionality, enabling its customers to transact with other members on the network and take advantage of Bottomline's fast and secure payment processing capabilities. Fully embedded to create a seamless solution, Paymode requires no new integration for Medius customers.
With 550,000+ vendors accepting digital payments on the network, Medius customers can meet their automation goals. Paymode also offers multiple payment types with rebates, resulting in customers improving their cashflow.
Paymode benefits suppliers as they receive enhanced data and reconciliation information, as well as rich reporting, and can lower their cost of payment acceptance and reduce days sales outstanding. Providing this important data and reconciliation feature helps strengthen relationships between buyers and their suppliers.
"Having a well-recognized AP solution like Medius join the Paymode network not only validates our strategy and expands our ecosystem, but it also brings tremendous value to Medius, its customers, and our existing vendor base," said Gunita Bindra, VP of Partner Strategy and Sales for Paymode at Bottomline. "This partnership is a genuine win-win-win."
“By providing access to such a sizeable number of businesses on Paymode’s network, we enhance the overall value proposition of Medius,” said Craig Keller VP, Payment Strategy, Medius. “Medius Pay will now be able to take more responsibility for our customer’s supplier community, automate and digitize more of their spend file and deliver an improved cash flow across more of their supplier spend”.
For more information, please contact:
Dan Bird, Fight or Flight for Medius
Dan.Bird@fightflight.co.uk +44 7885 670798 / Medius@fightflight.co.uk
About Medius
Medius links invoice capture, processing, and payment to replace the worry and wondering of managing AP with calm and confidence. Medius goes far beyond basic automation by using artificial intelligence to do most of the work – so invoices get confirmed, coded, paid, and businesses can trust their budgets and forecasts. Medius, on a mission to transform the spend management category using the power of automation and AI, has more than 4,000 customers across 116 countries and processes $200 billion in annual spend through its system.
Learn more at www.medius.com.
About Bottomline
Bottomline helps businesses transform the way they pay and get paid. A global leader in business payments and cash management, Bottomline’s secure, comprehensive solutions modernize payments for businesses and financial institutions globally. With over 35 years of experience, moving more than $10 trillion in payments annually, Bottomline is committed to driving impactful results for customers by reimagining business payments and delivering solutions that add to the bottom line. Bottomline is a portfolio company of Thoma Bravo, one of the largest software private equity firms in the world, with more than $160 billion in assets under management. For more information visit www.bottomline.com.
Bottomline, Paymode, and the Bottomline logo are trademarks or registered trademarks of Bottomline Technologies, Inc.