What’s So Great About Yavrio Bacs?
Yavrio Bacs takes the reliability and efficiency of traditional Bacs and elevates it with cutting-edge technology and seamless integration. Here’s why Yavrio Bacs stands out:
- Yavrio Pioneers Bacs Integration in Business Central: Yavrio has consistently been at the forefront of innovation, and once again, it leads the way by being the first to integrate Bacs with Microsoft Business Central (BC). This integration ensures that businesses can leverage the full power of Bacs within their existing ERP systems, streamlining financial operations like never before.
- Embedded in Business Central: With Yavrio Bacs embedded in Business Central, users experience a seamless workflow. This integration eliminates the need for manual data entry and reduces the risk of errors, ensuring that your financial transactions are accurate and efficient.
- Fantastic User Experience: Yavrio prioritises user experience, offering an intuitive interface that makes managing payments straightforward and hassle-free. Whether you’re setting up Direct Debits or processing payroll, Yavrio Bacs simplifies the process, saving you time and effort.
- Versatile Payment Rail Options: Unlike other solutions that may limit your payment options, Yavrio Bacs supports multiple payment rails. This flexibility allows businesses to choose the most cost-effective and efficient payment methods for their needs, enhancing overall financial management.
The Hidden Pitfalls of Relying Solely on Faster Payments
While Faster Payments may seem like a quick solution, they come with several limitations that can hinder business operations:
- Payment Limits: Many banks impose strict limits on both the amount and number of payments that can be processed per request and per day. For instance, some banks cap payments at £25,000 or £50,000 per bulk request, with the same limits applying daily. This effectively locks businesses out from processing more payments once the limit is reached, severely hindering financial operations. Our customers have experienced this frustration, and we agree - This is simply not good enough.
- Transaction Quantity Limits: Banks also restrict the number of transactions per bulk payment, further complicating financial processes. For example, Lloyds Business allows only 25 payments per request, while NatWest Business caps it at just 15.
These low limits are inadequate for businesses needing to process high volumes of transactions daily, leading to inefficiencies and operational delays. Faster Payments’ restrictive nature makes it a less viable option for dynamic business environments.
- Scheduling Constraints: Although some banks offer scheduled bulk payments, the scheduling options are often limited to a few days or months, unlike Bacs which can schedule payments up to a year in advance.
- Inconsistent Information: Different banks provide varying levels of information and support for Faster Payments, leading to potential confusion and inefficiencies.
- Complex Limits: The limits on total payment amounts and the number of payments per request can vary significantly, making it difficult to manage large volumes of transactions smoothly.
- Trusted Beneficiaries Only: Most banks restrict Faster Payments to only trusted beneficiaries, which can limit flexibility and add administrative overhead.
The Reasons Why We Back Bacs
- Cost-Effective Transactions: Bacs transactions are more economical compared to other payment methods, helping businesses save on transaction fees.
- Reliability and Security: Bacs ensures secure and reliable processing of payments, with high levels of security and minimal risk of errors.
- Streamlined Operations: For businesses processing multiple payments, Bacs simplifies operations and enhances cash flow management with predictable schedules.
- UK Ubiquity: Nearly every bank in the UK is integrated with Bacs, making it a widely accepted and trusted payment method.
- Effortless Automation: Integrating Bacs with ERP systems like Microsoft BC automates the entire process, reducing workload and administrative costs.
What Does This Mean for Finance Teams Using Business Central?
For finance teams using Business Central, Yavrio Bacs offers significant time-saving benefits. By automating payment processes, teams can focus on more strategic tasks rather than getting bogged down by manual payment entries. The predictable payment schedules provided by Direct Debit also aid in more accurate cash flow forecasting, allowing for better financial planning and management.
Embrace the Future of Payments with Yavrio
Imagine a future where your payment processes are streamlined and automated. With Yavrio, this vision becomes reality. By integrating Bacs with your ERP system, Yavrio ensures smooth, efficient, and secure transactions. Experience the ease of automated payments, reduced costs, and enhanced efficiency. Yavrio is your dedicated partner in making financial transactions seamless and hassle-free. Embrace innovation, step into the future of payments, and watch your finance department flourish with Yavrio’s cutting-edge solutions.
