Simplex Launches Payments Administration Solution (PAYS)

Monday 31 January 2005 02:17 CET | News

Simplex Solutions has launched a Payments Administration System (PAYS) to provide key functionality required by organizations to support critical stages in the entire payments lifecycle.

The launch of PAYS follows the successful introduction to the European market of the Simplex Steria SWIFT Service Bureau in September 2004, which enables interfaces to every major bank globally through the SWIFT network. PAYS was created to alleviate the IT and operational challenges currently faced by corporations and banks where the existence of multiple ERP systems each containing different message formats, different data flows, communication standards and operating procedures coupled with a similar diversity in Electronic Banking Systems present a significant barrier to straight through processing. The PAYS proposition is comprised of a number of core components. These include Message Transformation, Invoice Matching, Manual Payment Creation, Payment Authorization, Delivery and Reporting. Simplexs strategy is to deliver further value-added applications derived from the core platform.

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Categories: Payments & Commerce | Payments General
Countries: World
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