November 2007

Financial services provider, Ricson Services, selects ALBACSip, eCONNECT and eCOLLECT to manage hundreds of monthly transactions

Ricson Services, providers of accountancy, payroll and administration services for contractors within varied business sectors, including Healthcare and IT, has selected ALBACSip, eCONNECT and eCOLLECT from market leading e-transaction software author, Albany Software. The new payment software will update and streamline Ricson's payment processes and comprehensively manage its several hundred monthly transactions, affording the company a more fluid cash flow whilst improving time and cost efficiency.

Dianne Miles, Company Secretary at Ricson, comments, "We provide financial and admin services for people who own individual limited companies. The new software from Albany will make our business processes leaner, in turn easing the burden of payment for our clients and improving our own cash flow." Miles continues, "Direct Debit payments will replace cheques and standing orders. Processing cheques and standing orders is always a very time-consuming exercise, involving daily manual processes, lots of paperwork, constant reconciliation, as-well-as added cost implications. All these processes will now become fully automated."

With Albany's ALBACSip software, Ricson Services will have the capability to operate as a direct debit originator with its chosen bank. This will allow Ricson to set up Direct Debits on behalf of clients so they no longer need to be responsible for arranging standing orders or remembering to post cheques. Miles adds, "Our contractors won't have to worry about remembering payments. All they have to do is sign a Direct Debit mandate, and we can organise the rest. Many of our clients have new companies and have to deal with all the bureaucracy involved with starting up a business. We don't want to add to that. We want to make our service to them as simple as possible and ALBACSip enables us to do that."

Miles has also chosen eCONNECT and eCOLLECT from Albany to complement ALBACSip. These three tools work together to create a seamless payment system. eCOLLECT administers all the payments, while eCONNECT stores all client contact details, validating all client bank information at point of data entry to mitigate against any error. Miles explains, "All three are tied in together. Our main criteria for a new payment system were simplicity, clarity and transparency. Albany's suite of software gives us all of these. It provides exactly the information we need at the touch of a button whenever we need it."

Managing the company's several hundred monthly transactions manually has acted as a brake to business expansion for Ricson Services. With Albany's software in place, Miles is confident that she will now be in a position to push forward with plans for growth. "This new software is going to allow the company to really expand now," she concludes, "and the natural progression will be to move towards becoming a payment bureau. Albany's products are already geared up for that progression so Ricson now has great potential for long-term growth."

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