For Immediate Release
Treasury Software Releases Portable Universal Middleware to Enable Straight-Through-Processing for B2B Payments
Leading Provider of Treasury Management Software
Supports EPN’s Remittance Standard
New York, NY, Oct. 10, 2005 – Treasury Software, a leading provider of secure, affordable cash management solutions, announced today that the company’s ACH Universal™ is the first universal middleware to adopt the EPN STP 820, a remittance information standard developed by Electronic Payments Network (EPN).
EPN, the ACH payments business of The Clearing House Payments Company L.L.C., introduced the EPN STP 820 to facilitate straight-through-processing for business-to-business electronic payments. The standard enables corporate trading partners to transmit detailed remittance information within their electronic ACH payment and allows recipients to automatically record the transactions in their internal accounting systems. The EPN STP 820 standard is supported by NACHA and the Association of Financial Professionals (AFP).
“EPN STP 820 is an increasingly popular standard that avoids unnecessary complexity,” said Debbie Glasser, Vice President of Treasury Software. “The adoption of any standard is ultimately decided on its ease of implementation and ease of use. EPN STP 820 meets both of those criteria.”
ACH Universal generates the electronic payment and remittance information in accordance with the EPN STP 820 standard. Without custom installation, ACH Universal will accept data from any major accounting package from QuickBooks to PeopleSoft. ACH Universal provides a secure, easy-to-use solution for automated business-to-business transactions within the EPN STP 820 format.
“Treasury Software’s adoption of the EPN STP 820 standard moves the industry a step closer to true straight-through-processing and eliminates the barriers of business-to-business electronic payments,” said Rossana Salaris, Senior Vice President of Electronic Payments Network. “Treasury Software’s commitment to EPN STP 820 further demonstrates the need for a common standard for both accounting and cash management packages to provide an electronic business-to-business payments option to their customers.”
ACH Universal will incorporate ACH2Excel™, which will parse out an EPN STP 820 file into tabular format. In addition to providing the capability to create an EPN STP 820 file from a payment system, this solution will convert the EPN STP 820 file into an importable format for a receivable module. “This will promote further acceptance of the standard by third party developers and Value Added Resellers (VARs),” according to Glasser.
ACH Universal transmission options include fully automated File Transfer Protocol (FTP), Secure Socket Layers (SSL/FTPS), and key-exchange based encryption and signing, such as PGP.
About Treasury Software
Treasury Software (www.treasurysoftware.com) is a leading provider of treasury management middleware, bridging the gap between banking and accounting systems. Treasury Software’s ACH Universal - the industry’s first and only independent turn-key middleware solution- coexists with existing payment and reconciliation systems. Its ACH-CTX and EDI releases have been used as file creation systems for trading partners of industry leaders like Sprint/Nextel. Other Treasury Software clients include the Long Island Railroad and General Electric, as well as private label banking partners.
ACH Universal is available for immediate download from the company’s web site for both trial and purchase. Treasury Software is a member of NACHA, a Microsoft Certified Partner, Citrix Access Partner, and is the recipient of The CPA Software News Gold Cup Award. Treasury Software provides full U.S.-based support for all customers from its headquarters in Weston, Florida. For more information, contact Glenn Fromer, CPA at 954 217-9133.
About EPN STP 820
EPN STP 820 was developed by the Electronic Payments Network (www.epaynetwork.com). The EPN STP 820 specifies up to 10 required data elements, with two elements – customer name and customer account number – as mandatory. When invoices are being paid, there are eight additional fields such as invoice number, gross invoice amount, and amount paid to be included with the electronic payment for each invoice being paid.
About EPN and The Clearing House Payments Company
The Electronic Payments Network, a payments business of The Clearing House Payments Company, is the only national private-sector ACH operator in the United States. Its membership consists of over 1,600 commercial banks, credit unions and savings banks. EPN processed more than 3.4 billion payments in 2004. The Clearing House Payments Company (www.theclearinghouse.org) is a private-sector, global payment systems infrastructure that clears and settles more than 20 million payments for $1.5 trillion per day. The Clearing House manages payment services that span the entire spectrum of paper, paper-to-electronic and electronic payments. For more information on The Clearing House, contact Chip Savidge, chip.savidge@theclearinghouse.org, 212.613.9896, or Greg Berardi, greg@bluemarlinpartners.com, 415.239.7826.
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