Sage launches new payments service for small businesses

Accountancy sector brand Sage has launched a new service that lets SMEs make domestic and international payments directly from their software.

Sage Payments will allow small and medium sized businesses to use accounts or payroll systems to make the payments.

End-to-end payments

This so called end-to-end payments solution means that Sage 50 Accounts and Sage 50 Payroll software users will be able to take advantage of the new feature.

According to Sage the “strategically significant” service aims to eliminate the need to extract information and then use a separate payment channel or bank to make business payments.

The new service will automate reconciliation, funding and exchange rate calculations and will also be mobile and tablet friendly.

Throttled growth

EVP and managing director of Sage UK Lee Perkins said: “Money management has throttled growth for too many businesses who struggle to handle flow of cash in and out of their organisation."

“With Sage Payments, we are empowering businesses by breaking down age-old financial processes revolutionising the way they make payments and enabling them to take greater control of their cash flow,” he added.

This level of control will enable future dated payments to help a business keep an accurate overview of cash flow and create a digital audit trail.

Perhaps the biggest advantage for UK economy SMEs operating in a global trading environment is that the service will allow customers to make payments to the UK as well as 23 other countries worldwide via the Foreign Trader module, which has built-in support for 11 different currencies.