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CommSecure snags MLC with receivables management addition (6...

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    CommSecure snags MLC with receivables management addition

    (6 June 2006 – Australia) ASX listed technology outfit CommSecure has extended its electronic billing and payment offering to include receivables management, attracting National Australia Bank wealth management arm MLC in the process.

    Called BillSecure Plus, the offering streamlines the process of matching invoices to payments, reduces administration costs, and improves reporting, cash flow and accountability.

    CommSecure chief executive officer Peter Townsley said the product had “been snapped up” by MLC while other large players had shown interest.

    “MLC is now in production and we’re currently involved in a second similar implementation with another customer,” he said.

    “Combined contract values for both customers are over half a million dollars and we are quite confident that this is just the beginning of a substantial new revenue stream, having identified significant potential in the financial, utilities and government sectors,” Townsley said.

    MLC will integrate the new receivables module into the online billing and payment platform it provides its 1300 advisers.

    Townsley said CommSecure provided many of the top 100 billers in Australia with billing and payment solutions but that many companies had been seeking a quicker and automated way of matching invoices to payments.

    “By extending our existing offerings with receivables capabilities, we can now automate this process, which will have a substantial impact on the efficiency and effectiveness of their accounting function,” he said.


    www.bpay.com.au/files/brochures/ BillerBPAY_View_Brochure.pdf -
 
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