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What is Straight Through Processing?
What is Straight Through Processing?
Overview
Financial processes are becoming more complicated, making them increasingly difficult to manage…
As you read this, treasurers up and down the country have staff manually rekeying the same information into their banking portals…
And they do this week in, week out.
But there is a solution. Straight Through Processing (STP)…
What is Straight Through Processing?
Straight Through Processing is a key technological advancement used by organisations to process financial transactions from beginning to end without manual intervention.
With Straight Through Processing, information only needs to be entered manually once, which means no more rekeying ever again!
Why do you need Straight Through Processing?
Manual transaction processing and rekeying is:
• Time consuming.• Prone to errors.• Susceptible to fraud.
Straight Through Processing, on the other hand, automates the entire process from start to finish, eliminates redundancies and mitigates the risk of human error.
Straight Through Processing frees up treasury staff to focus on strategic analysis and long term planning.
By automating your payment transactions, Straight Through Processing can give your business immediate competitive advantages:
What are the benefits of Straight Through Processing?
Reduced error rates.
Greater visibility of transactions and cash positions.
Greater staff efficiency and
productivity.
Quicker transaction processing times. Reduced operational risk by
minimizing manual intervention.
Improved data availability, reliability and accuracy.
AccessPay uses Straight Through Processing to take data directly from ERP and payroll systems, and then send it to the bank safely and securely, without the need for human involvement.
Our solutions also allow you to create simple to complex workflows, and set payment approval processes quickly and easily.
AccessPay can offer you a whole range of automated payment and cash management solutions with Straight Through Processing built in, whether you’re sending or receiving domestic or international payments.
Straight Through Processing with AccessPay
Bacs Payments
Direct Debit Management
Faster Payments
SEPA Payments
Multi-Bank Cash Management
Straight Through Processing with AccessPay
London HQ
CEC Winchester - Crawford Place,259-269 Old Marylebone Rd, London.NW1 5RA+44 (0) 203 282 7152
Email: [email protected]: www.accesspay.com
Contact AccessPayManchester Office
City View House,Union Street,Manchester.M12 4JD+44 (0)161 667 1220
