UTC, parent company of Carrier Corp., and Bottomline announced a business relationship earlier this year in which UTC purchased the NetTransact B2B electronic bill presentment and payment (EBPP) solution to streamline the billing and payment process for UTC divisions and their customers. Currently, four of UTC’s largest divisions (Pratt & Whitney, Carrier, Hamilton Sundstrand, and Sikorsky) are using NetTransact to convert their paper invoices to an electronic format and give their customers access to the system at no charge.
Customers are said to be able to reduce administrative costs incurred by processing paper bills and checks. The streamlined payment processing is available when UTC’s customers access and process their invoices online.
NetTransact is described as “a secure, interactive system that allows companies to present billing information and receive payments electronically. Payers can review, modify, and approve for payment invoices online, and then schedule the date of funds transfer.”
For more information, contact Bottomline at 800-243-2528; www.bottomline.com (website).
Publication date: 10/23/2000