More than 10,000 companies have just over two months left to move their electronic payment systems from EDI-based links to the new internet-based BACSTEL-IP payment infrastructure.
In December, the old BACSTEL system will be taken out of service. At the recent Softworld Accounting & Finance event, Georgia Leybourne of Albany software warned of migration bottlenecks as more than a third of BACS users had not yet made the transition.
"It's over two years since BACS announced the migration to the new technology, BACSTEL-IP, and only 60% of businesses are ready. The remaining 10,000 companies risk failing to secure the help they need from the software community."
Albany, a specialist in online payment and ecommerce systems, has moved more than 5,000 companies onto BACSTEL-IP. It is one of 25 deve...