Software delivers greater efficiency and tighter security for UK domestic and global payments
Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that Hessel, an international relocation expense management specialist, has increased its ability to process payments securely and efficiently by selecting Bottomline’s payments software.Bottomline Technologies has enabled Hessel to process over £30 million worth of payments more effectively while reducing operational risk.
Employee relocation creates a complex, individual and variable trail of relocation expenses and international payments – a trail that needs to be checked, reconciled, reported and paid. Hessel offers a full range of domestic and international expense management services to enable effective control and reconciliation of financial data associated with local and international assignments.
Prior to selecting Bottomline Technologies, Hessel was using a PC based system, PayAway. With this legacy system due to decommission at the end of 2013, Hessel required a robust, secure payments solution that would scale with the expanding business, meeting its complex multinational transaction needs.
The Bottomline payment platform will enable Hessel to process payments across multiple locations, for numerous users on behalf of global companies that are relocating their talent worldwide. By streamlining its complex multinational payments, the Bottomline system is expected to save Hessel around four man hours a day.
Geoff Davidson, Technical Director at Hessel Group, comments, “Since 2011, Hessel has nearly doubled the volumes of money it pays out, from £17.8 million to £30.2 million in 2013. As such, we required a payments solution that could both scale with our business and provide the highest level of security, which is paramount to the success of our company.”
As part of Hessel’s continued drive towards streamlining payment processes and reducing risk, Bottomline’s solution will enable Hessel to implement automated security checks which was not possible with the old system. Davidson explains, “One of the biggest challenges we face in our industry is managing the risk of every Bacs and international transaction. The robust Bottomline solution provides us with the reassurance we need to confidently make payments on behalf of our clients.”
Davidson concludes, “Further to the anticipated time saving, the Bottomline solution will reduce our cost base and enable us to be more agile. With enhanced security, efficiencies and scalability, we expect the Bottomline solution to be a worthwhile investment that will secure the future of the company.”
Global Banking & Finance Review
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