Albany Software Announces New Intelligent Payments Management Solution, Albany ePAY

15 September 2008

Albany Software has today announced the launch of Albany ePAY. This consolidated payments solution offers organisations a comprehensive gateway for their finances that manages the inward and outward flow of funds. At its core is an intelligent processing engine which actively analyses the contents of the data it is managing to assist the end user make best practice decisions. Albany ePAY has been developed using the latest technology and has been specifically designed to manage multiple payment methods, thus proofing this solution in advance against future financial initiatives.

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.

Fully scalable to suit all business sizes from small to enterprise, Albany ePAY has multiple inputs and multiple outputs. This 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. It seamlessly integrates with all ERPs, core accounting solutions and both local and global banking and clearing systems. By harnessing the existing corporate financial environment, it requires minimum infrastructure investment.

Adrian Stafford-Jones, managing director of Albany Software, comments, “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 solution 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 integrated document delivery alongside the payment itself.”

This innovative new payments solution from Albany Software offers many tangible benefits for businesses. As Stafford-Jones explains, “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 unapplied data are minimised, transaction costs reduced as much as possible and all data is automatically reconciled in the back office.”

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