|
|
![]() |
|
|
New ACOM Software Enables Direct Deposits from OS/400 Servers by Alex Woodie Have you ever thought about using the national banking network, which your employer uses for direct deposit of your paycheck, to send payments directly from your OS/400 server? Well, now you can. Last week ACOM Solutions announced an add-on module to its EZPayManager/400 that allows users to transfer funds over the Automated Clearing House (ACH) network using their AS/400 or iSeries as the primary server.
ACOM's base EZPayManager/400 application is designed to reduce companies' reliance on pre-printed checks by allowing them to print their checks on standard laser printers, including those equipped with Magnetic Ink Character Recognition (MICR) toner. In the past, if customers wanted to augment their EZPayManager/400 system with electronic payment capabilities over the ACH network, ACOM had a solution for them, but it didn't run on OS/400. That's why ACOM developed EZPayManager/400-ACH. "EZPM/400-ACH is an all-new native iSeries AS/400 module developed from the ground up to supersede an earlier solution that required an intermediate stop at a Windows server, which forwarded the electronic documents to the ACH network," said Greg Church, ACOM's vice president of marketing, communications, and product development. "The new solution satisfies a strong preference within the iSeries community for pure solutions." The ACH is a vast electronic processing and delivery network that was originally developed in California in the early 1970s to streamline the process of handling and settling paper-based checks. The National Automated Clearing House Association was formed soon thereafter to manage the ACH network, set rules, and admit members into the network. NACHA has admitted more than 12,000 financial institutions into the ACH network, which transmits more than 19 million transactions per day. In 2000, the ACH network handled transactions worth more than $20 trillion. With EZPayManager/400-ACH, ACOM is giving OS/400 shops access to the ACH network to make payments and submit remittances to their suppliers or vendors. The module automatically formats payments into a NACHA-compliant file that is sent to your vendor's bank for processing. It uses the same back-end interfaces to access accounting and ERP applications that EZPayManager/400 uses. (ACOM says there is no custom coding required to integrate either solution into existing applications.) EZPayManager/400-ACH also allows users to specify which vendors or suppliers are to receive their payments electronically over the ACH network, and which ones are to receive a check in the mail. Sending payments electronically is faster and less expensive than printing and mailing a check, ACOM says. The Atlanta, Georgia, software company cites a recent United States Treasury study that found the average electronic payment costs 22.5 times less than paper checks. ACOM says the study also revealed the payment inquiry rate for electronic payments was 32 times less than for paper checks, and the average time to resolve inquiries for electronic payments was 24 hours, compared to about two weeks when using paper checks. EZPayManager/400-ACH is available immediately. Pricing starts at $3,995. For more information, visit ACOM online at www.acom.com.
|
Editor
Contact the Editors |
|
Last Updated: 12/09/02 Copyright © 1996-2008 Guild Companies, Inc. All Rights Reserved. |