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Four Bacs-Approved Software Solutions for Your Business

 

For fifty years, Bacs (Bankers' Automated Clearing Services) has provided British bank account-holders with an intermediary solution for payment processing. With more than 100 billion payments processed via the clearinghouse, Bacs possesses a credibility and authority in the world of banking that’s unsurpassed in the UK.

In addition to its primary service, Bacs also provides a variety of managed services to both consumers and businesses alike. Among these is a plethora of software solutions approved by Bacs that can assist with payment processing, account management, and faster payments.

Today, we'll examine four Bacs-approved software solutions that can be very beneficial to businesses managing direct debits and credits.

AccessPay

Businesses need a flexible, comprehensive solution for payments. Whether it is meticulous records, automated processes to minimise wasted time or segregated expenditures, these functions are valuable – and even more so when available in a one-size-fits-all software solution. Ultimately, reducing the amount of time spent juggling financial documents and transactions is a huge gain for any business.

Investing in Bacs software suppliers such as AccessPay will allow you to process an unlimited number of transactions through their systems, as well as an unlimited number of files. Capable of integrating with any and all accounting, payroll, and CRM systems, this solution makes for a perfect business partner when juggling detailed and complicated accounting/payment solutions. Businesses will also enjoy faster payments through AccessPay – not something that's guaranteed with all Bacs software suppliers.

Bottomline Technologies

Providing “simple, smart and secure business payments” according to its website, Bottomline Technologies' Bacs approved software handles a variety of unique business payment needs.

With nine different products approved by Bacs, businesses can handle anything from bureau payments to full-hosted services via Bottomline's offerings. With cyber risk and fraud management as standard, businesses can finally relax and not worry about whether the payment software solution they rely on is structurally sound and impervious to hackers.

Whether your business values the incorporation of multiple Bacs related services under one roof or the sophisticated analytics available with this suite of software, Bottomline's offerings can provide real value to a business.

Corvid PayGate

Accepting payments globally – while guaranteeing fast processing and total compliance domestically – is a prime concern for most online businesses. After all, businesses that fail to compete on a global scale via the web are self-sabotaging in a major way and reducing their potential. With Corvid PayGate, one of many Bacs software suppliers, a variety of options are available to support these needs.

A full range of Bacs-related corporate needs is supplied through its three approved options: PayGate Desktop, PayGate Online, and PayGate Enterprise. Regardless of your business' size or scope, one of these three primary options is suited for your enterprise. Billed as the UK's largest Bacs provider, businesses will enjoy features such as industry-leading security, different forms of hosting (cloud-based, on-premise or hosted) and a maximised automation process to simplify daily affairs.

Elseware

For more than 20 years, Elseware has provided flexible Bacs software services to many of the biggest bureaux and clients in the UK. One of the biggest appeals in Elseware's offerings is the price: for £250 per year, a direct submitter can obtain a site licence (likewise, for bureaux, a comparable license is priced at £500). Said licence allows submitters an unlimited number of software copies, users, clients, and transactions. The company also operates on a sliding scale of sorts; the price of each licence for everybody continues to decline as more licences are purchased from the company.

For those desiring Faster Payments, Elseware is a great solution, with payments arriving same day and costing less than payments via CHAPS. Ultimately, the affordability that Elseware provides has made it one of the most popular Bacs software suppliers, but it offers much more in terms of what businesses expect.

With dozens of software solutions available, picking the right one(s) for any business can be daunting. However, these four solutions represent a great assortment of what is available – and they provide multiple Bacs services in individual packages. This makes them attractive for businesses in need of a variety of software solutions to handle payments, so please consider how each one of these can provide real value for your business.

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