Bank Payment System

News

Latest updates on functionality and product versions.

The Bank Payment System is now compliant with SunSystems 6.3.

We’ve just released a new version of our Bank Payment System compliant with SunSystems 6.3. It’s currently available in English. Other languages (French, German and Spanish) will be available in May.

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Our Bank Payment System saves more than 2,000 hours a month!

Our clients save more than 2,000 hours a month using our BPS. No more Journal Entry and manual matching of bank statements.

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BPS now sends email remittances to your suppliers

Great news! You can now send email remittances to suppliers directly from the Bank Payment System. The solution is based on MS Reporting Services and it’s very flexible and easy to implement.  Your suppliers will be informed in detail about what’s been included in the payments you’ve sent them. This is especially convenient if you’re using the payment summary option.

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Our Bank Payment System supports file encryption

We have successfully implemented encryption process that is working with specialised application provided by bank. BPS delivers encryption by calling encryption program within payment order generation process in BPS. In addition we use new tool which is able to manage generation and exchange of public/private key pair using PGP standard.

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Our Bank Payment System is now compliant with SunSystems 6.2.1

We’ve just released a new BPS version that’s compliant with SunSystems 6.2.1 (Unicode environment). It’s available in English, Czech, French and German.

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Bank Payment System Version 5.8 for SunSystems 6

Version 5.8 of LLP’ s Bank Payment System delivers more than 30 new features and enhancements.

Payment orders may now be prepared in two steps. In addition to the MP – Mark for Payment function there is now ME – Mark for Execution. The payment process may now therefore be split between two users. The first may select transactions for payment, saving them as a batch, and the second will then recall the batch, check all payment instructions within the batch and then create the payment file, and post to the General Ledger. This enables the division of responsibility between team members.

In some circumstances, however, it may still be useful for a single user to perform both steps. This is helpful when there is a delay between initial payment preparation and payment execution because of an internal approval process external to the system, for example if payment execution is conditional on a signature on a printed payment listing.

Selection of invoices for payment is now enhanced by the possibility of selecting invoices based on two separate analysis dimensions. Furthermore, it is possible now to select non-consecutive codes from the code list (you are no longer constrained by a single From and To range). This enhancement applies to Accounts, Analysis Dimensions, Journal Types and Currencies. Additionally, we have increased the number and usage of Additional Description fields in the main ledger, both on payments and on posted statements.

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The Bank Payment System now speaks French!

Our Bank Payment System is available in English, German, Czech and newly in French language.

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What multinational clients find most useful in the Bank Payment System for Infor SunSystems

We recently did some research to find out which function people find most useful in our Bank Payment System. We’re very pleased to discover that the most useful function is one that was introduced just a couple of months ago.

Some banks do not provide Payment Reference information in their electronic bank Statements, or customers don’t use payment reference properly in their payment instructions. This means that automatic matching can only work on the basis of the Debtor’s bank account number (assuming this is supplied in the bank statement file), but Debtor bank accounts are not usually maintained in SunSystems.

So, we introduced a function in the Bank Payment System that builds Debtor bank details automatically. This feature stores links between the paying bank account that the Debtor has used and the Debtor’s account in the SunSystems Chart of Accounts. When a customer pays from the same account subsequently and if Payment Reference is missing or is wrong, we are able to find the Debtor account in automatically and this means a payment can be matched and posted automatically into the ledger without manual user input. This function saves a very significant amount of time.

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