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Sage unveils new payments service

28th Oct 2015
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Sage has launched a new service called Sage Payments that enables small and medium sized businesses to make domestic and international payments directly from their accounts or payroll software.

According to Sage the end-to-end payments solution will allow customers to make payments straight from their Sage 50 Accounts and Sage 50 Payroll software.

The software giant said the “strategically significant” service aims to transform the future of business payments by eliminating the need to extract information and put it into a separate payment channel or bank.

Lee Perkins, EVP and managing director of Sage UK, said: “Money management has throttled growth for too many businesses who struggle to handle flow of cash in and out of their organisation.

“With Sage Payments, we are empowering businesses by breaking down age-old financial processes revolutionising the way they make payments and enabling them to take greater control of their cash flow,” he said. 

Sage Payments also:

  • Automates reconciliation, funding and exchange rate calculation processes to save time and improve accuracy
  • Sets future dated payments to help monitor cash flow and create a full digital audit trail to provide control over authorization
  • Offers competitive and transparent domestic and FX pricing through a choice of tiered plans
  • Allows customers to make payments to the UK and 23 other countries worldwide with support for 11 different currencies through Sage’s Foreign Trader module
  • Is mobile and tablet friendly

Sage told AccountingWEB that cash flow was the life blood for small businesses, yet money management has throttled growth for too many businesses:

“Businesses, like consumers, are seeking more secure, transparent, automated payments processes to gain greater accuracy, efficiency and control of their money. This has been reaffirmed through extensive research across our customer base and the small & medium business market more widely; Sage Payments is a direct response to these needs.

“By reliably automating key stages of the payments processes, Sage Payments saves businesses considerable time. Information a customer already has in their accounts or payroll software can be extracted to facilitate making a payment and the customer is put in control of when that payment can be made. Automated capabilities such as reconciliation, funding and calculation of exchange rate gains or losses reduces the need for re-keying to save time and improve accuracy,” Sage said.

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