Albany Software, the pioneering developer of electronic payment software solutions, has launched the latest version of Albany ePAY bureau, the intelligent payments application that is specifically designed and truly caters to the unique needs of bureau service providers.
Albany ePAY bureau offers bureaux the ability to process a true bureau file containing multiple customer files. The latest release delivers new functionality that will enhance their ability to offer scalable and compatible payments offerings to clients, as well as more flexible reporting capabilities and even tighter internal security settings. In doing so, the bureau solution helps bureaux to increase efficiency and deliver improved services in line with individual customers' unique needs.
Albany ePAY bureau is Bacs approved and includes the latest Faster Payments input reports and additional 24/7 functionality. In addition, the solution includes enhanced report download capabilities that provide bureaux with the ability to configure their report download profiles, as well as enabling the configuration of multiple download schedules for each download profile, so that reports can be retrieved on non-regular intervals by both the bureau and the customer if required. The list of Bacs non-processing days and bank account verification updates are now automatically applied using a schedule.
Albany ePAY bureau includes improved exclusivity and user segregation features, with changes in permissions settings allowing for a more secure two-person process when submitting a payment file. User A or B can, for example, validate, confirm, authorise or sign payments, but neither can do all. The solution also includes an interim arrangement that meets HMRC's PAYE payroll change requirements until full implementation of the Real Time Information (RTI) initiative.
Adrian Stafford-Jones, Managing Director of Albany Software, explains, "With both Bacs and Faster Payments transaction levels steadily increasing, bureau service providers need to have access to an application that will deliver multiple payments options and facilitate the most logical, streamlined payment process possible. Furthermore, errors caused by incorrect data must remain at a minimum, transaction costs as low as possible and data easily reconcilable in the back office."
The intelligent processing engine at the core of Albany ePAY bureau actively works with the contents of the data flow to recommend optimum payment methods, notifies of any account changes, reconciles updated data back to the core application and warns or stops any payment outside of pre-set limits. This functionality ultimately aids the bureau in making best practice decisions when it comes to handling their clients' payments.
The comprehensive reporting functions, multi-user access and hierarchical permissions structure of the Albany ePAY bureau solution delivers remarkable levels of control and visibility for the bureau service provider, which can be adapted to suit the business model of different clients, enabling the bureau to provide an enhanced level of customer service over its competitors.
Stafford-Jones concludes, "This latest functionality within our ePAY bureau solution is designed to address all these points, keeping bureau service providers at the technical forefront of their service provision, reducing their costs. This, combined with its ability to easily and securely facilitate multiple payments methods and its flexibility of reporting makes Albany ePAY bureau an excellent choice for any financial services organisation which wants to provide its clients with the complete outsourced payments solution, whilst also differentiating itself on excellent customer service."