Bank of America Merrill Lynch Offering New Capabilities for Payment and Invoice Processing

Bank of America Merrill Lynch has announced that the expanded capabilities for Paymode-X, the all-digital online payment and invoicing system powered by Bottomline Technologies, are now part of the bank’s supply chain and treasury solutions offering.

Combining electronic purchase order submission, invoicing and payment settlement on a single platform, Paymode-X enables companies to better control and predict their cash flow, reduce processing costs and strengthen relationships with suppliers. New features include enhanced purchase order presentment and matching, more efficient invoice workflow and approval capabilities, along with the ability for buyers and their suppliers to negotiate discounts for prompt payment.