Rent-A-Center Goes Live with BottomlineTechnologies Payment Suite
December 6, 1999 09:04 AM
PORTSMOUTH, N.H. and PLANO, Texas--(BUSINESS WIRE)--Dec. 6, 1999--
Top "Rent to Own" Merchandiser Deploys Bottomline's Offering for Efficient, Streamlined Disbursement Operations
Bottomline Technologies(R) EPAY , a premier provider of Web-enabled billing, payment, and treasury management solutions, today announced that Rent-A-Center, Inc. RCII has gone live with Bottomline's PayBase software. Bottomline's solution effectively streamlines and automates the payment processes for Rent-A-Center's employees, vendors and trading partners.
"Bottomline's eCommerce software delivers substantial value to employees and vendors in any business environment," remarked Dan McGurl, president and CEO of Bottomline Technologies. "Recently, we've brought intense R&D focus on the consumer retail industry to ensure our product suite maximizes productivity and efficiency for their crucial backoffice functions. Rent-A-Center, the established leader in the rent-to-own industry, has already begun to realize the benefits of our powerful industry-specific solution."
Bottomline was selected based on the products' best-of-breed functionality and proven ability to streamline the total payment management process. "We needed a product that could be deployed in a short amount of time, and would provide the flexibility to manage our wide-ranging disbursement needs," explained Tonya Moreno, Manager of Accounts Payable for Rent-A-Center. "Bottomline's solution was the best fit for our needs."
Rent-A-Center utilizes Bottomline's payment technology to process more than 75,000 disbursements per month, ranging from vendor payables to employee expense reimbursements and payroll. Bottomline's software ports to the company's Lawson financials package, and creates an enterprise-wide payables system that is seamless and virtually free of errors or manual data entry.
"Bottomline's biggest advantage is expediency. We cut our pre-and post-processing time to one-eight of the time needed before Bottomline. I would think that type of measurable, tangible return is what every company dreams of attaining with implementation of new technology. We achieved it immediately with Bottomline's software."
About Rent-A-Center
Beginning with eight stores in 1986 and rapidly expanding over the last 12 years, Rent-A-Center, Inc. RCII now owns and operates 2,076 stores in 49 states, Washington, D.C. and Puerto Rico. Headquartered in Plano, Texas, the Company offers high-quality, durable goods such as consumer electronics, appliances, computers, furniture and accessories to consumers under flexible rental purchase arrangements that allow the customer to obtain ownership of the merchandise at the conclusion of an agreed-upon rental period. ColorTyme, Inc., a wholly-owned subsidiary of the Company, is a national franchisor of 349 rent-to-own stores, 323 of which operate under the trade name of "ColorTyme," and the remaining 26 of which operate under the "Rent-A-Center" name.
About Bottomline Technologies
Bottomline Technologies(R) EPAY is a leading provider of Web-enabled billing, payment, and treasury management solutions for the business-to-business market. Bottomline's three integrated eBusiness offerings enable corporations and financial institutions worldwide to automate, control and integrate all money movement. PayBase(R) provides a pathway from traditional paper checks to electronic payments. NetTransact, the Company's business-to-business bill presentment and payment suite, enables enterprise billers and their trading partners to electronically present, adjudicate, and pay bills on-line. Bottomline's ICM division is a leading developer of web-enabled electronic banking and treasury management solutions. Today, Bottomline's offerings are utilized by over 2,500 organizations representing every major industry sector. Founded in 1989, Bottomline maintains its headquarters in Portsmouth, NH and has satellite offices located in most major cities. For more information, dial (800) 243-2528 or visit Bottomline on the web at www.bottomline.com.
Cautionary Language
This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the 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 the Company's financial results, refer to the Company's Form 10-K filed February 1999.
CONTACT: Bottomline Technologies Ellen Backus 978-740-0780 pr@bottomline.com
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