Regarding EFT for BPCS, our process comes with two different approaches:
Option I (read-only), where we extract data from AMH/AML and generate
payment files and also email remittances. This is very popular and used
in over 100 BPCS companies around the world (including in-house at
INFOR). It works with about 60 different banks out of the box for
domestic and international payments and can also be adapted for paying
employee expenses. This is a Green Screen application.
Option II (read-write), where we take over the entire BPCS payment
process and allow you to deselect vendors, invoices, do part-payments,
handle multiple banks, currencies and accounts from one selection
screen. When the journal is completed with the final payment selection,
we make all BPCS postings back into the A/P sub-ledger and the G/L. This
is ideal for operations with more than 1 BPCS company set up on their
machine or working with multiple banks, and it completely replaces the
ACP600, 620 and 650 programs. It is a GUI, Java-built application
released earlier this year in Europe and now available in the U.S.
For some industry background, we have spent the last 12 years working in
this area. In the U.S., electronic payment practices are about 10 years
behind Europe for a variety of reasons (fondness for a check culture, a
perception that paying by EFT increases cashflow, the misconception that
check-based payments are less susceptible to fraud, a regulatory system
that resulted in localized banks with state-specific or regional focus.)
All of this is changing and EFT payments through the ACH network are now
growing in the U.S. at 25% per quarter. Most of our EFT customers are on
BPCS (the majority are on versions 6.1/6.04 or 8.2, but many are still
running V5 or V4 BPCS; some are even on V3 and V2).
Any more information needed on this, just holler.
Business Development Manager
SAI New Technologies
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