The Access Group has announced the launch of Access PaySuite, its new FCA authorised payment division that is focused on integrated payment experiences for businesses operating in the utilities sector.
The Access Group is one of the leading software providers in the UK and, by establishing PaySuite alongside it’s pre-existing software in specific sectors such as finance, HR, hospitality, health and social care, not for profit, education and construction, customers will benefit from an integrated, seamless and innovative approach to payments tailored to the industry they operate in.
Continuing to build on an impressive period of growth, the launch of Access PaySuite, follows the acquisition and integration of Rapidata, EazyCollect and Eazipay into a single company combining the best of each organisation.
The last 12 months have forced many businesses to pivot, with 53 per cent of consumers now preferring to pay through digital channels and it’s estimated that 42 per cent of business to business payments globally are now made through digital channels.
Online payments for subscriptions are also set to grow by a staggering 72 per cent in 2022, highlighting the need for organisations to examine the digital payments offering as well as introducing more streamlined payments technology.
Access PaySuite intends to be at the forefront of these changes in the payments landscape and the new solution will play an integral role in helping businesses rebound, fueling growth across the utilities sector.
By automating payment processes and ensuring Direct Debits are set up and made on time, Access PaySuite is a simple and intuitive platform that can be adapted to suit a range of customer needs, facilitating a frictionless process that allows recurring payments to be made and managed in just a few clicks.
The advanced solution is designed to improve understanding of cash flow and business performance, as well as reducing the time spent chasing late or failed payments. It can manage online payments, Direct Debits and integrated payment solutions and is suitable for subscription businesses, memberships or those offering consumers the option to pay in installments.
Analysis of the latest Government data, published as part of The Access Group’s report “Are you ready for the future of payments?” shows that currently, around 78 per cent of SMEs wait over a month after the agreed terms to receive funds owed to them, costing each around £5,000 per year. Larger organisations sometimes experience problems due to inflexible and outdated payment systems that don’t talk to each other, resulting in lost time, missed opportunities and general frustration.
Andrea Dunlop, managing director of Access PaySuite, said: “In an increasingly digital world, people expect a frictionless payment experience when dealing with a utility provider.
“Our vision is to enable utility firms to make the most of new developments in payments, without having to become experts themselves. Access PaySuite will deliver seamless payments experiences to customers, ensuring an integrated, frictionless process that helps businesses scale and accelerate their growth.
“This is as exciting for new customers as it is for thousands of organisations who currently use Access software, as we can seamlessly embed payments into software solutions through Access Workspace to meet the needs of specific verticals, supporting faster payments and automatic reconciliation- something that is long overdue in an increasingly digital age.
“We have ambitious plans to be the leading payments provider in the UK, so watch this space as exciting things are coming.”
For more information about Access PaySuite, visit www.accesspaysuite.com
53 per cent of consumers now prefer to pay through digital channels: https://www.capgemini.com/gb-en/news/capgeminis-world-payments-report-2020/
42 per cent of business to business payments globally are now made through digital channels: https://www.forrester.com/report/Make+Your+B2B+Business+A+Digital+Business/-/E-RES89642
Online payments for subscriptions are also set to grow by a staggering 72 per cent in 2022: https://touteslesbox.fr/wp-content/uploads/2020/07/royal-mail-subscription-box-boom-report.pdf
About Access PaySuite
Access PaySuite is a leading provider of payment solutions to mid-sized UK organisations. Part of The Access Group, it combines payments expertise with unparalleled SaaS experience to help customers across commercial and not for profit sectors improve their payment solutions, providing organisations with the freedom to accelerate their innovation and growth. For more information about Access PaySuite, visit www.accesspaysuite.com
About The Access Group
The Access Group is a leading provider of business management software to mid-sized UK and Asia Pacific organisations. It helps more than 47,000 customers across commercial and not-for-profit sectors become more productive and efficient. Its innovative Access Workspace cloud solutions transform the way business software is used, giving every employee the freedom to do more. Founded in 1991, The Access Group employs more than 3,250 staff. For more information about The Access Group, visit www.theaccessgroup.com