SAI New Technologies Launches Bacstel-IP for Bacstel-IP

SAI New Technologies are pleased to announce the arrival of their new Java-based Bacstel-IP certified solution Bacstel-IP.

SAI have been providing electronic credit and debit solutions on BACS for its UK customers for over a decade now and Bacstel-IP delivers all of the functional enhancements and security features available on the new Bacstel-IP platform, including 128-bit encryption, on-line reporting and web enabled self-service.

Bacstel-IP can import BACS files from any application or data source, including vendor payment files, payroll files and customer direct debit files. Bacstel-IP can also be integrated seamlessly with your ERP system and core Finance processes.

According to Martin Whelan, Technical Director at SAI New Technologies, “Bacstel-IP is a significant development for SAI. In addition to satisfying the many requirements of the new Bacstel-IP platform, we have invested heavily in the up-front design of our future Java-based architecture. The next step for the Cashbook product suite is to deliver other integrated Finance solutions on this new architecture, including foreign payment formats, Automated Accounts Receivable processing, Bank Reconciliation, Cash Dashboard and Cash Forecasting.”

The SAI New Technologies product consulting team will now be working closely with existing and new customers across the U.K. and at Shared Service Centre locations throughout Europe to implement and support users on the new solution.

All existing users of BACS will need to plan their migration to the new platform before the December 31st deadline imposed by BACS. Companies who have not yet scheduled dates for the upgrade should contact SAI through the contact information below.

For companies still paying vendors by check there are significant time and cost benefits associated with using electronic funds transfer via BACS (this represents a saving of approximately £1 per check according to BACS). The cost of paper-based payment remittance advice notes can also be avoided by integrating Cashbook email remittance advice technology with electronic credit or debit files. A secure electronic payments process also reduces company exposure to the ever present risk of check-based fraud.

SAI New Technologies provide Cash Management and Electronic Banking solutions for over 120 customer sites worldwide. Founded in Limerick, Ireland, in 1992, SAI have developed the Cashbook suite of applications for use with industry leading ERP systems. Cashbook is a modular, multi-site, multi-currency, multi-lingual solution which radically reduces the time needed to perform day-to-day tasks in A/P and A/R departments.

Cashbook comes with a choice of over 150 bank adaptors developed by SAI for financial institutions and clearing houses around the world, including BACS & BACSTEL-IP (U.K.), ETEBAC (France), BGK, BGF (Belgium), CLIEOP02/03, BBV (Netherlands), DTA, DTAZV, CODAT (Germany and Switzerland), Ireland (FED, CAPS, AIB), U.S. (ACH), as well as adaptors for Spain, Poland, Sweden, Denmark, Norway, Finland, Canada and Asia-Pac.

For more information or for a demonstration of Bacstel-IP or other Cashbook modules, please contact Richard Birchall at +353-61-201160.