BACSTEL-IP to manage electronic payments
Case Study relating to BACS 171
FP&S Truck & Trailer Parts provide the UK with a comprehensive range of OE and quality aftermarket parts to ensure trucks and trailers remain on the road. The product range is comprehensive and covers Axle, Suspension, Braking, Electrical, Filtration, Transmission and Body Parts. FP&S have a national network of branches strategically located to ensure UK wide coverage.
FP&S wanted to improve their system for paying suppliers. The FP&S existing system was that they paid suppliers by cheque, which were manually written and manually processed. This system was costing them unnecessary time and money and they were looking for a new and more efficient process.
IMS assessed the Company’s needs and recommended BACSTEL-IP as the best way forward. This system was selected as it offered an extremely secure, efficient and effective way to manage electronic payments, and as an added bonus is free! IMS implemented the system very quickly, once approval from FP&S’s bank was gained.
The Company saw immediate benefits in terms of speeding up the payment process and gained significant cost savings from a reduction in bank charges. Download Case Study as PDF