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Albany Software Introduces New Intelligent Payments Management Solution, Albany EPay

Albany Software, the e-payments market leader, today announces the launch of Albany ePAY: A new, highly-scalable, intelligent multi-payment routing solution that has the capability to integrate, connect and deliver from any existing accounting infrastructure.

At its core is an intelligent processing engine that actively analyses the contents of the data managed to assist the end user in making best practice decisions. Albany ePAY has been developed using the latest technology and specifically designed to manage multiple payment methods.

The intelligent processing core is unique to Albany ePAY. It actively works with the contents of the data flow to recommend optimum payment methods, notify of any account changes, reconcile updated data back to the core application and warn or stop any payment outside of preset limits.

As an innovative payments solution Albany ePAY offers many tangible benefits for businesses. Adrian Stafford-Jones, managing director of Albany Software, comments,
“By placing intelligent processing within the payments mechanism itself, Albany ePAY keeps a tighter rein on limits, addresses minor and major deficiencies within core accounting solutions and brings control into the hands of the Finance Director at the time of processing.” He concludes, “Errors caused by incorrect data are minimised, transaction costs reduced as much as possible and data can be reconciled in the back office.”

Albany ePAY benefits to business include:
• Unsurpassed management, control and visibility of cash flow
• Saves valuable time and resources by reducing manual processes
• Reconciles data back to core applications
• Facilitates least cost and most timely payment method
• Warns of payments outside preset limits and stops if required
• Offers disaster recovery and contingency for back-up
• Delivers notifications, alerts and escalations to appropriate users
• Enables sophisticated user security
• Allows authorised users to add, edit and stop specific payments
• Notifies of account changes and aids application of amended data
• Uses advanced technology to ensure secure connectivity
• Accepts the output from any accounting package
• Centralises a number of disparate functions into one seamless solution

As Albany ePAY has multiple inputs and outputs it allows the management of all payment methods within one solution including; Bacs, Faster Payments, European Payments and any others the organisation wishes to add such as SEPA (Single Euro Payment Area). It seamlessly integrates with all ERPs, core accounting solutions and both UK and European clearing settlement mechanisms. By harnessing the existing corporate financial environment, it requires minimum infrastructure investment.

Stafford-Jones explains, “Albany ePAY is set to lead the way for the next generation of payment solutions. Traditional financial applications simply provide a gateway between the outside world and the internal, back office systems. Albany ePAY’s intelligent processing engine takes this concept to a new level and makes recommendations to the user of the most logical, streamlined payment process possible.” He continues, “The key to its success is comprehensive management control and the reconciliation element which keeps disparate systems in line and enables document delivery alongside the payment itself.”

In Albany ePAY, Albany Software consolidates 20 years of skills and experience in the electronic payments industry. Integrated with Microsoft, Sage and 99% of accounting and payroll applications, Albany ePAY focuses on speed, performance, automation, usability and the cost effective management of payments. It eradicates the need for re-keying of data and facilitates advanced reporting, streamlining business processes and saving time and costs. The intuitive and easy-to-view dashboard facility within the user interface affords clear visibility of cash flow.