Bottomline Technologies, a provider of Business Process Management software and managed services, says it has 1,300 orders and over 400 live users for its BACSTEL-IP software subscription service, introduced six months ago.
The online service aims to enable companies to comply with recent UK government regulations creating a new Internet delivery channel with a multi-layered security platform providing businesses with the highest level of security in payment submissions.
Bottomline’s subscription service is new to the United Kingdom and allows small to medium size companies pay for BACSTEL-IP on a monthly basis. The company hopes it will encourage many new organisations to use BACSTEL-IP and help expand the market for direct submitting BACS solutions.
“We are delighted with this result and believe that by offering BACS users greater choice on how to pay for the BACSTEL-IP software has to be good for our customers and will help accelerate the migration,” says Mike Hutchinson, BACSTEL-IP marketing manager at BACS.
“We launched the BACSTEL-IP subscription service in the spring of this year to provide organisations with the easiest possible transition to BACSTEL-IP and to give them access to additional functionality in the future such as remittance and cheque processing at a really low cost,” adds Peter Fortune, president of Bottomline Europe. “To have reached over 1,300 orders and over 400 live users in just six months, proves that our proposition is exactly what organisations need at this time.”
Bottomline’s range of software is approved by BACS, which says it will be useful for the migration to BACSTEL-IP, the UK’s new technology platform which allows companies to send electronic payments directly to BACS and receive reports from the internet.
Over 50,000 businesses who use BACS to make electronic payments must upgrade their BACS software by 31 December 2005.