BACS Contingency

Explanation

Payment systems are vulnerable to failures with computers, communication systems and staff absences. The failure to make payments or collect funds on time can conceivably bring a company to its knees. The need for a backup system is therefore a business imperative rather than an unnecessary administrative burden. Financial Directors and Systems Managers ignore this potential disaster at their peril!

How can Eagle Consulting Help?

We already provide Contingency and Emergency services to a large number of organizations. Our BACS team is experienced at handling a wide variety of data types at short notice and getting the payments through. We provide two solutions - Contingency Contracts for medium-sized and larger organisations who insist on the certainty of a backup solution being available and Emergency submissions for smaller businesses who do not have the same reliance on BACS

Contingency Contracts

The greater the business reliance on BACS the greater the justification for a contingency contract – just ask the following 3 questions to prove the need for a contingency contract:

• Are we able to make the payments or collect the Direct Debits in any other way if our systems fail?
• Can we afford to ignore the effect on our employees, suppliers and cashflow of failing to make these payments or collect our Direct Debits?
• What additional costs would we incur if we failed to make the payments or collect the Direct Debits on time?

Emergency Service

For those organizations who cannot justify an Emergency Contract a simple instruction to your bank now will put in place a link between our bureau and your company that will enable us to transmit transactions for you. This service is FOC until you ask us to perform a submission (working hours only) when our emergency submission rates apply. Of course there are no guarantees we can meet your requirements – we have many other commitments and may not have the capacity on the day in question (Contingency Contracts receive preference).

Security

Data security is a prime concern and we ensure that all submissions receive the attention of at least 2 people. The transfer of data can be by e-mail, direct data transfer, courier or in some cases by fax where data has to be rekeyed. At the instigation of any arrangement between us we will agree and document a suitable protocol for the transfer and verification of your submissions.

Costs

In our experience Peace of Mind is worth more than the costs of failing to transmit a payroll. Our costs are realistic but our service is exceptional. If you would like to find out more and obtain a free quotation for our contingency contract please follow the link and supply the information necessary for us to provide a quotation.