The Pensions Regulator Speed Up Payments with Paperless Direct Debits

published on: 30/07/09

Bacsactive-IP Enterprise replaces slow cheque processing with a faster, more efficient and cost-effective payments process

The UK Pensions Regulator, today announced that it is successfully using Bacsactive-IP Enterprise from Accountis Europe Ltd to automate and improve its levy payments process.

Using Bacsactive-IP Enterprise with Direct Debit Web Collect and Workflow modules, customers can visit the Pensions Regulator’s website and make levy payments by direct debit. This has replaced the historical system of processing cheques. Direct debit instructions and payments are then sent automatically to Bacs through Bacsactive-IP. Authorised members of the Pensions Regulator’s finance team can log in to their Bacsactive-IP website to view all payment transactions, including individual customer history. They can also view a summary report of the direct debits set up on a specific date.

Gary Robinson, Consultant on Scheme Return and Levy Programme at the Pensions Regulator, said “There are many off-the-shelf Bacs payment systems available which we could have used, but they only allow payments to be processed on a date set by the payee. Accountis was the only provider who was able to provide a tailored solution that gave us complete control, including specifying when the payments are made, therefore significantly improving our processes.”

In addition to powering the paperless direct debit system, the highly customisable Workflow Module reports on debit card payments made by customers through the Pensions Regulator website. It allows tracking and modification of payment amounts before submission to Bacs.

The Pensions Regulator also use Bacsactive-IP’s Remittance Module to automatically email direct debit letters informing customers of the amount and date of collections, as required by the direct debit scheme.

“Bacsactive-IP has enabled us to reduce administration costs and remove the potential for human error by gaining automated control over the process,” added Mr Robinson. “Accountis have provided ongoing support and taken the time to build a relationship with us. We are very happy with our decision to use Bacsactive-IP and look forward to developing our solution further.”

Ifor Williams, Sales Director at Accountis said, “The Pensions Regulator had a number of manual payment processes they wanted to automate to improve efficiency and eliminate errors. Bacsactive-IP was therefore an ideal choice for them. They were able to pick and choose the modules they needed to create a bespoke solution that met with their requirements exactly. They also opted for the hosted version of our service, which means that with no hardware purchases or software licences to pay, they were able to keep set-up and ongoing costs to a minimum.”

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