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Albany Software ships direct debit management tool for SMEs

27 May 2009  |  2316 views  |  0 Source: Albany Software

Albany Software, the UK's leading e-transactions software author, has today announced the launch of Albany eCOLLECTsmall business edition.

This powerful Direct Debit management tool has been specifically developed for the SME market, supporting 2-5 users generating up to 1,000 collections monthly. It offers a fully auditable and secure Direct Debit (DD) collection facility including verification of bank details to ensure accuracy of data entry and also prepares files to send directly to Bacs.

Albany eCOLLECTsmall business edition enables the automatic creation and submission of new DD Instructions (DDIs). It is fully AUDDIS compliant and setup to support paperless Direct Debits. This solution includes a set of features specifically designed for SMEs and has been positioned to ensure it is affordable to the smaller business.

Georgia Leybourne, Sales and Marketing Director at Albany Software, says, "Albany eCOLLECTsmall business edition manages the entire lifecycle of Direct Debit collections, including creation, submission and amendment. The system allows the user to automate much of the Direct Debit process via a series of easily navigable wizard menus and removes many time-consuming manual tasks associated with Direct Debit management."

Albany eCOLLECTsmall business edition offers enhanced cash flow visibility through advanced Direct Debit management. Enabling customers to pay via Direct Debit means that an organisation will always have an accurate snapshot of how much money is scheduled to come into the business, resulting in improved cash flow. Albany eCOLLECTsmall business edition manages the entire amendment and cancellation process, importing Bacs notifications and presenting a recommended course of action. This process can be automated to eliminate the need for manual intervention.

Leybourne comments, "Albany eCOLLECTsmall business edition has been designed to cope with the demands of a small to medium size enterprise wishing to process repeat collections on a flexible timescale. By implementing the system, clarity over working capital and cash flow can easily be achieved." Leybourne concludes, "Consistent cash flow is absolutely vital to organisations during a recession and nobody wants to be spending unnecessarily. As failed Direct Debits can cost as much as £50 each to rectify, it is vital to maintain control of amendments and returns. Through automatically managing the day-to-day changes that may affect your collections, Albany eCOLLECTsmall business edition reduces failures and simplifies the collections management process."

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