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Business Benefits of BACSTEL-IP
- Existing infrastructures can be utilised, keeping costs of implementation to a minimum
- Electronic reporting enables automation of paper-based processes, removing paper and saving time and money, leading to an increase in the efficiency of any accounts department
- Faster payment confirmation as input reports are provided electronically within 3-4 hours of a submission on input day
- Heightened levels of security as the use of PKI creates a multi-layered security platform providing businesses with the highest level of security in payment submissions
- Increased control with ability to monitor progress of payments online, maintain contact details in real time and payment history at submission/file level online
- All connections are brought together in a single format, streamlining previous processes and systems. BACSTEL-IP brings together all BACS submission information, electronic reports, messaging services and the collection of unpaid items into a single secure IP connection.
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