Published on Wednesday, November 21, 2012
The Accounting Centre, one of the leading payroll and accounting services bureaux has selected a pioneering developer of electronic payment and collection solutions, Bottomline Technologies, to provide its payments solution to ensure compliance with the HMRC Real Time Information (RTI) initiative that comes into force next year. As an existing Bottomline customer, The Accounting Centre required some guidance to implement an effective payments solution which was RTI-ready in order to process 100,000 payments per year.
As a payroll and accounting services bureau, it was key that The Accounting Centre ensured that the small yet vital elements of planning for the RTI transition were implemented correctly by having RTI-compliant Bacs software in place, up-to-date payroll software and ensuring that all information is correct within each system. Albany's advice and industry pedigree helped to guide the company through this process.
Tejas Somaiya, Accounting & Payroll Director, at the The Accounting Centre, comments, "We process approximately 100,000 payments per year for over 250 clients, including McDonald's franchisees." We can offer them a competitively priced, efficient service because of the way in which Albany's solution and assistance has streamlined our business processes. This has a direct impact on our business and results in year-on-year business growth."
The pressure is on for all businesses to prepare for RTI in order to minimise disruption. Planning is a critical part of this process and it is essential that organisations ensure that they are up to speed with RTI requirements as soon as possible.
Somaiya continues, "The transition to becoming RTI ready has provided us with huge time savings, not only for our business but for our customers. Many of our 250 clients were using cheques or processing payments via online banking; these payments and collections can now be made at the click of a button, resulting in a more efficient process."
He concludes, "The support we have received throughout the time we have worked with Bottomline has been second to none. They are always on hand for support and advice and have effectively and quickly helped us to prepare for the RTI pilot."