UK-based Colony Gift Corporation has deployed WinBACS-IP, Bottomline Technologies’ BACSTEL-IP solution. Colony’s migration to this service ensures its compliance with a new BACS-mandated electronic payments standard, expected to take effect on 1 January 2006. The largest scented candle manufacturer in Europe, Colony Gift Corporation has been using Bottomline’s electronic payments solutions to manage payroll and purchase ledger needs since 1998. As the deadline for migration to the new BACSTEL-IP standard looms, Colony Gift realised that a planned company-wide operating systems upgrade was an ideal opportunity to also migrate to the new electronic payments standard. “Completing our migration to the BACS standard as part of a larger IT initiative has proven to be a win-win for us. With that decision, we have already profited from months of process efficiency gains that we would have not have had with a delayed migration,” said Pauline Mellors, accounts manager, Colony Gift Corporation.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.