Albany Software, a pioneering developer of electronic payment software solutions for Bacs payments, has today announced the launch of Albany ePAYMENTS for Software as a Service (SaaS) accounting solution - FinancialForce.com.
Through this dynamic partnership FinancialForce.com customers can embrace Albany's advanced software technology to access online Bacs payment functionality from within FinancialForce.com's on-demand, cloud-based accounting solution.
The FinancialForce.com solution is unique in the market as it is the only accounting solution built on salesforce's force.com platform. Albany ePAYMENTS is now also available as a composite application on force.com and works in conjunction with FinancialForce.com's SaaS solution to facilitate Bacs payments. Albany ePAYMENTS isolates the financial payment-related data stored in FinancialForce.com and transmits it to Bacs for onward payment processing. Albany ePAYMENTS is an essential connection between FinancialForce's accounting solution and the financial clearing house, enabling automated electronic payments.
Debbie Ashton, Vice President, Product for FinancialForce.com, comments, "In working with Albany, we benefit from their expertise in electronic fund transfers and their close relationship with the UK banking community. In adding Albany ePAYMENTS to our FinancialForce.com solution we can now offer our customers a fully automated on demand, end-to-end payment system which streamlines the process and adds even greater operational efficiency."
FinancialForce.com is a functionally rich accounting solution that is scalable, cost-effective, quick to implement and requires none of the initial capital outlay, infrastructure work or installation processes and costs associated with more traditional on-premise applications.
Providing payments as a SaaS solution is a complex and challenging task due to the security ramifications, however through the fully-integrated system, FinancialForce.com customers are given the opportunity to manage payments through a service environment without any risk to their business.
Adrian Stafford-Jones, Managing Director of Albany Software, comments, "By transmitting the data held within the accounting solution through Albany ePAYMENTS, financial transactions are possible at the touch of a button. There is no longer any need to re-key data or write cheques, and payments are confirmed online. In this way, Albany ePAYMENTS connects the cloud-based accounting system to Bacs and streamlines all financial processes."
Stafford-Jones continues, "This latest opportunity to use Albany's electronic payment function through an online service approach means organisations can access this information whilst on the move and do so securely, providing greater flexibility attaining both significant time and cost savings for businesses."
Stafford-Jones concludes, "In today's business it is essential for any accounting solution to have an effective and efficient payment option on offer to enable its customers' greater control over all electronic funds transactions, consequently improving their cash flow and providing accurate budgeting. With Albany's extensive experience in providing solutions that effortlessly integrate with other third party systems, end-users receive a seamless, user-friendly and cost effective component within their existing accounting solution."