Herndon, VA (PRWEB) December 13, 2013
Treasury Software released and presented ACH Universal’s XML capability at the XML-ACH Summit hosted by NACHA – The Electronic Payments Association. To help encourage adoption of NACHA’s XML-ACH Remittance Opt-in (XML-ACH) program, Treasury Software is providing their ACH File XML creation tool free to financial institutions and other early adopters for non-production use.
One of the primary goals of the Corporate Trade Exchange (CTX) ACH payment is to provide detailed remittance information in Business-to-Business (B2B) payments so that the receiver can automate the processing of receivables. This automation process, commonly referred to as Straight-through-Processing, often requires bilateral agreements between the parties, as the remittance data in the current Electronic Data Interchange (EDI) format can vary greatly.
“The XML format dramatically simplifies the setup process between the sender and receiver. With the NACHA data dictionary provided within NACHA’s opt-in rules, the need for bilateral agreements between the two parties is effectively eliminated,” explains Glenn Fromer, CPA and Director of Development at Treasury Software. “We feel that the startup process has always been a barrier to entry, especially within the SMB market. By simplifying this process, we expect to see an increase in participation.”
“It’s very exciting to see XML-ACH move from concept to reality, and tools like Treasury Software’s ACH File XML creation program are key to enabling a more efficient process for payment remittance using standards-based XML,” says Robert Unger, Senior Director for NACHA.
NACHA’s XML-ACH program allows participants to safely and securely transmit payment remittance information for B2B transactions in a standardized XML format via the ACH Network. The XML-ACH Summit, held November 20, 2013, provided an opportunity for financial institutions, corporates, and B2B service providers to review the program and discuss next steps to achieve industry adoption.
For more information on the program, please visit https://www.nacha.org/XML-ACH-Remittance.
About Treasury Software
Treasury Software’s mission is to provide quality solutions that provide businesses of all sizes access to the electronic payments network. ACH Universal creates ACH files, and works with QuickBooks, Excel, comma delimited (csv) files, Microsoft SQL Server, all major accounting packages, and any legacy system that can export to Excel or a csv file. Advanced features include: Email remittance notification, a Software Integration Kit with full automation, and CTX with both EDI and XML engines. Treasury Software is a Microsoft Gold Certified Partner, QuickBooks Silver Developer and member of NACHA’s Council for Electronic Billing and Payment (http://cebp.nacha.org).
For more information on ACH Universal’s XML capabilities, as well as software download information, please visit: http://www.treasurysoftware.com/ACH-CTX-XML.html.