We are looking to replace 3 payment software systems with one group wide system. The various systems are currently used for sending BACS/Direct Debits and printing cheques. We would look to replace with a new system that can print cheques as well as send BACS and collect direct debits, ideally we would like this solution to also be able to send overseas payments via the SWIFT network. We send on average 200,000 BACS payments a month so needs to be able to cope with high volumes.
Does such a piece of software even exist? Does anyone have any recommendations from experience?
I have tried searching but not found a suitably similar query, thanks.
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Replies (9)
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Isn't this more about how you generate your payments in the first place? If the system is capable of handling the volumes you mention, I'm sure a report can be written to generate output files in the right format to upload as BACS (or surely FP) and SWIFT transactions. Cheques likewise - they're just a document format requiring special stationery.
That said, it may also be worth asking your bank what solutions other customers use.
Our ERP systems currently output our BACS and cheques files. We then use existing payment software to either import directly into BACS or print the cheques. It is these payment softwares that we want to consolidate into one solution.
It's not clear if your ERP system is doing the rest of your accounting (Inc bank reconciliation). Id suggest that (a) it should and (b) it should print your cheques. Otherwise you have three systems (ERP, payments, accounting) which seems one too many to me
Yes ERP does the accounting as well. We currently use a system provided by Bottomline which sends BACS, collects direct debits and prints cheques but we want to understand what else is available in the market
I concur with paulbenny........speak to your bank.
or your auditors........given the volume of transactions I am making an assumption that you engage external advisers. I am sure that they are well placed to advise.
Thank you for your replies. I was hoping for recommendations based on experience. Our bank aren’t great at helping with services we pay them for, so not sure how good they would be at recommending a piece of software whose main benefit is avoiding their banking charges.
Can you clarify - you want a system to manage BACS and cheques payments from you but the collection of DD ie customer payments to you?
I'm not aware of any system that will handle what is effectively 3 different money handling processes, even though 2 will pass through BACS for clearing ultimately.
For DD look nowhere else but GoCardless
For BACS/FP processing you could consider: Telleroo or AccessPay
You could consider Bottomline which combines BACS, FP and DD together although I haven't seen it in operation.
As for cheques surely they've had their day - haven't they?
Hi,
I just came across this discussion albeit 6 months late!
Yes a solution like that does exist with Accesspay.
I work for AccessPay and we can replace all your three Bacs,Direct Debits and printing cheques requirements. We can also help you with Host to Host connections to connect to your bank or even direct connectivity to SWIFT.
Is this a project still on the table?
Could I contact you to discuss this?
[email protected]
0161 989 0371
Hi Craig
Thank you for your response. We are already engaged with Accesspay around a possible solution