BACS Reconciliation

Documetric's scalable payment processing services leverage our economies of scale and relationships with the banking sector to deliver high quality services in a cost effective outsourced model.

We process over 100,000 payments a day, either delivering the service on behalf of one of our partner banks, or direct to the end customer.

For invoices paid by BACS, Documetric offers a BACS Reconciliation service. This service focuses on removing the manual activity involved in reconciling the Bank statement with BACS remittance advice notes within the Receivables department.

In addition to the main processing activities that apply to remittance documents as part of the Cheque IT service, the BACS Reconciliation service performs a daily reconciliation of the BACS remittance details with the clients banking data file. A reconciled transaction file is passed back to the client to upload into their finance application.

This is a necessary but onerous task for clients and Documetric will re-process matching failures over a number of days, until payment is deposited into the client account.

With over 30 years experience in the market and with our pedigree in the financial sector, Documetric's payment solutions takes the burden of this manually intensive task from our customers and delivers a service that guarantees to:

  • reduce the cost of processing by a minimum of 20%
  • deliver cash into the bank more quickly - advancing the process by days, sometimes even weeks
  • reduce the frequency of errors
  • increase the controls and supporting management information