The software, which is compliant to BACS new online BACSTEL-IP system, will provide BA with faster reporting and tighter control over its electronic transactions.
Jeff Gager, systems development manager at BA Pensions Services Limited, said: ‘The key driver for the implementation of ALBACS-IP was the 2005 deadline for moving across to the new BACS infrastructure. We were very keen to achieve compliance at an early stage in order to order to avoid a last-minute rush as the deadline approaches.’
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia