BCE Emergis Signs Agreement with Bank of America to deliver B2B invoice presentment Montreal, Quebec, Thursday, October 25, 2001, 12:00 EDT --
* Deal confirms Emergis market leadership with e-invoicing
solution
* Bank of America to offer e-Invoicing to corporations and
commercial businesses for use with their trading partners
BCE Emergis Inc. (TSE: IFM), one of the leading e-commerce service
providers in North America, and Bank of America (NYSE:BAC) today
announced a strategic agreement that will enable Bank of America to
offer Emergis (R) e-Invoicing, BCE Emergis' electronic invoice
presentment & payment solution (EIPP), to its corporations and
commercial businesses around the world.
"This agreement with Bank of America represents another significant
milestone for Emergis," stated Brian Edwards, Vice-Chairman and CEO
of BCE Emergis. "It clearly positions us as the North American
leader in business-to-business electronic invoice presentment and
payment. It speaks to the strength of our technology in addressing
complex business invoicing requirements, to the depth of our
expertise in the financial services sector and to our positioning
at the center of the order to payment cycle."
Edwards also pointed to the fact that through this agreement, his
company now has three of the five largest U.S. financial
institutions as customers and distribution partners for its EIPP
service. He re-iterated that all these agreements follow the
Company's transaction-based recurring revenue model.
For Emergis, this five-year, multimillion-dollar agreement will
increase in value as the number of Bank of America customers and
the frequency with which they use the invoicing solution rise. Bank
of America has offered its customers e-invoicing and payment
capabilities for several years. Through this arrangement with
Emergis, Bank of America will not only be able to give its
corporate, middle market and small business clients the ability to
reap the benefits of EIPP with their trading partners, but will
also be able to do so in multiple languages and multiple
currencies. Bank of America clients ultimately will have access to
electronic invoice presentment & payment in North America, as well
as Europe, Asia and Latin America.
"Our alliance with BCE Emergis is an important part of our strategy
to expand our e-commerce capabilities and provide global solutions
to our clients as quickly as possible. As the industry leader in
global treasury management services, Bank of America looks to
companies like Emergis whose capabilities complement and enrich our
overall offering to help keep us ahead of the competitive curve,"
said Ken Merrill, Director of Global Platform Management at Bank of
America.
Through the Emergis e-Invoicing solution, Bank of America business
clients and their trading customers will be able to replace
labor-intensive and time-consuming activities with more efficient,
real-time tools to manage their invoicing and payment process
including dispute resolution and reconciliation. Users can benefit
from reduced costs, a collaborative invoicing relationship and
better control over cash management.
In addition, the Emergis e-Invoicing system will interface with
Bank of America's global payment systems, which will convert and
channel transactions through the appropriate US or international
payment system.
BCE Emergis is a premier B2B e-commerce infrastructure provider,
strategically focusing on market leadership in the
transaction-intensive eHealth and financial services sectors. By
layering technologically advanced e-commerce services on existing
Internet-based platforms, Emergis offers its customers increasing
value in their e-commerce adoption and ever-increasing levels of
sophisticated services. These scalable solutions electronically
transform business processes, such as buying, selling, invoicing
and payment, and enable companies to succeed in the web-centric,
cost-driven, and highly competitive global Internet economy. BCE
Emergis' customers include leading North American banks and
insurance companies. The Company's shares (TSE: IFM) are included
in the TSE 100 composite index. Please visit BCE Emergis at
www.emergis.com for more information on
the Company.
- ### -
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of BCE Emergis with
respect to its performance, business and future events. Such
statements are subject to a number of risks, uncertainties and
assumptions. Actual results and events may vary significantly.
For more information:
BCE Emergis:
Sylvia Morin
Director, Corporate Communications
(514) 868-2358
Email: sylvia.morin@emergis.com
John Gutpell
Director, Investor Relations
(514) 868-2232
Email: john.gutpell@emergis.com |
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