PracticePeople In PracticeExchequer claims first with universal internet-language accounting system

Exchequer claims first with universal internet-language accounting system

Bournemouth-based Exchequer Software has today launched the first accountancy system to incorporate the new internet-based standard from BASDA.

The company said it expected the ‘e-Business Module’ to radically change the way the smaller business community is able to trade with the introduction of the ‘ package that is affordable to companies without large IT budgets.’

e-Business Module has been designed to allow companies to conduct seamless, electronic transactions over the internet.

The electronic Business Interchange Standard (eBIS-XML) standard formulated by BASDA means all accountancy data is transported in one language so companies can read each others information when it is sent.

‘Finance systems are driving e-commerce in the business-to-business arena,’ said Eduardo Loigorri, managing director at Exchequer Software.

‘In creating the first eBIS-XML-enabled accountancy package we’re giving our users a head start in developing an e-business strategy. By enabling companies to automatically process Web-generated orders, the e-Business Module provides the final link in the supply chain.’

Users can send and receive orders by email or by downloading data directly from e-commerce sites.

Before eBIS, transactions were manually re-keyed as exchanging accounting systems electronic orders electronically was not possible other than by using the EDI standard as systems did not use the same language.

However the EDI standard was seen as too expensive for smaller companies and was not usually available for less than £10,000 – while the e-Business Module retails from £1,950.

BASDA puts its weight behind drive for easier electronic transactions

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