Bottomline Technologies Inc 's Comment on Competition and Industry Peers
The markets in which we participate are highly competitive. We believe our ability
to compete depends on factors within and beyond our control, including:
• our ability to develop new, innovative technology solutions that meet
the evolving needs of our customers and the shifting dynamics of the markets
we participate in;
• our ability to attract and retain employees with the requisite domain
knowledge and technical skill set necessary to develop and support our products;
• the performance, reliability, features, ease-of-use and price of our
offerings as compared to competitor alternatives;
• our industry knowledge and expertise;
• the execution of our sales and services organizations; and
• the timing and market acceptance of new products as well as enhancements
to existing products, by us and by our current and future competitors.
For our settlement network solutions, our principal competitors include AvidXchange,
US Bank Payments Plus and combined card and ACH Solutions from JPMorgan Chase,
Wells Fargo, D+H Corporation, Eastnets, SunGard and SWIFT.
For our digital banking payments and cash management solutions, we primarily
compete with companies such as ACI Worldwide, Fiserv, FIS, Q2, Jack Henry, Backbase,
NCR, MeridianLink and Polaris, that offer a wide range of financial services,
including electronic banking applications. We also encounter competition in
our digital banking customer acquisition offerings from MeridianLink and D+H
Corporation.
For our legal spend management solutions, we compete with a number of companies,
including Wolters Kluwer ELM Solutions, LexisNexis, Mitratech and Computer Sciences
Corporation (CSC).
For our cyber fraud and risk management products, we primarily compete with
NICE Actimize, Norkom-Deitca, SAS, Guardian Analytics and FairWarning.
For our healthcare solutions, our primary competitors are Access, FairWarning,
FormFast, Iatric Systems and Standard Register.
Our payment and document automation products compete primarily with products
from companies that provide solutions to create, publish, manage and archive
electronic documents and companies that offer payments software and services.
Our products also compete with companies that provide a diverse array of accounts
payable automation and workflow capabilities. We also compete with providers
of enterprise resource planning (ERP) solutions and providers of traditional
payment products, including check stock and check printing software and services.
In addition, some financial institutions compete with us as outsourced check
printing and electronic payment service providers.
