A new guide to implementing BACSTEL-IP has been published by Eiger Systems. This new delivery channel replaces the existing BACSTEL service for all companies submitting electronic payments directly to BACS and must be adopted by 31 December 2005. ‘BACSTEL-IP – a guide to successful implementation’ outlines the ten key steps that companies must take to implement the new technology platform and highlights the challenges ahead for large enterprises with high transaction volumes, multiple BACS user numbers or complex authorisation and submission policies. In particular, the guide highlights the importance of talking to your bank and the fact that migrating to BACSTEL-IP involves considerable change. The implications of BACSTEL-IP will impact many aspects of an organisation’s current processes and procedures. BACSAFE security devices will be replaced with either smartcard or HSM security devices, new communication methods will be introduced which utilise IP technology and BACS will require all submitters to ensure that they only submit clean and valid data.
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