Published on Monday, March 30, 2009
The new payment software will update and streamline 0800 Handyman's payments process and comprehensively manage several hundred of its monthly transactions, affording the company a more fluid cash flow, whilst improving time and cost efficiency.
The ALBACS software will help 0800 Handyman to facilitate its franchise development plan. Currently operating in London, through a directly employed labour force, it is planning to expand the business by implementing a nationwide franchise. Albany's solution will assist in the processing of royalty payments paid, by the franchisee to the company, via Bacs.
The purchase of the software is a direct result of the company's expansion, Clive Smith, Managing Director of 0800 Handyman, explains, "We bought the software as part of a new procedure that is specific to the franchising. It was implemented to efficiently administer the process for franchisees to pay management service fees (MSF). Once revenue from customers is banked into a holding bank account it is divided; the MSF is sent to us and the remaining balance is sent to the franchisee. Both transactions are processed by Bacs through the Albany solution. The new software will make our business processes fully automated and therefore leaner, improving cash flow."
With Albany's solution, 0800 Handyman can ensure that its business payments are as secure as possible, Smith comments, "The software we have chosen from Albany is one of the securest systems on the market and fully capable of supporting the service industry where franchise users typically operate. Usually you would expect the franchisee to send a cheque at the end of the month or periodically. However, with the new solution we are making this process far more secure and efficient as it happens electronically via an automated clearing process."
0800 Handyman decided to use ALBACS following previous experience with the software at Dyno-Rod, the UK's premier drain and plumbing service. Smith comments, "Albany's software was used at the Dyno-Rod business so we knew that it would work well, provide us with what we wanted and integrate seamlessly with the infrastructure we are developing to enhance the franchise operation."
Managing the hundreds of monthly transactions as a result of the expansion has been made simple and straightforward with ALBACS. Smith concludes, "This new software has really complemented the whole franchise process. We are now confident that we are in a position to push forward with plans for growth as we take our franchises across the country."
