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New Treasury Management and International Payroll Capabilities

Oct 21, 2008 

Patersons HR and Payroll Solutions Shares Details of New Treasury Management and International Payroll Capabilities

-World’s Only One Platform, One Contract Global Payroll Provider Enhances User Experience and System Functionality-

RALEIGH, N.C. and SALISBURY, U.K. (October 16, 2008) - Patersons HR and Payroll Solutions, a leading global HR and payroll software and services business delivering expert solutions to clients in more than 160 countries, today announced details of its International Treasury Process (ITP) and International Payroll Workflow (IPW).

At the core of its success is Patersons HR and Payroll Solutions’ SaaS-based solution known as CloudPay. With the inclusion of its new International Treasury Process feature, the treasury role is moved from the paying bank into the CloudPay application. This allows organizations to review and approve the payment data and the CloudPay treasury user can then generate and send the bank-specific payment file automatically online to the respective paying bank. An end to end process is all carried out securely on line in CloudPay. This means that clients can generate payments to any country worldwide (currency restricted excluded), in any currency either through the local clearing system (direct deposit) or international ACH. Similar to the streamlined design of other workflows in CloudPay, International Treasury Process can be accomplished in four steps. Delivered as true software as a service this facilitates global, regional and local treasury with control and visibility worldwide on transactions.

Patersons ITP supports file formats for the following paying banks: Citicorp, Bank or America and Wachovia Bank. Soon to come also are worldwide pre-paid cards and payment to mobiles. More details will be released in due course. .

Karen Paterson, Chief Executive of Patersons HR and Payroll Solutions, commented, “Market reception to our global payroll solution has been outstanding. Since our inception, we’ve been focused on using the Internet as the foundation for achieving what much larger vendors couldn’t accomplish before us. Our one contract, one platform approach is being used by hundreds of organizations to payroll workers in more than 160 countries. The addition of our treasury management support, coupled with our enhanced IPW, will simplify what have previously been extremely complex and laborious functions.” .

ITP and IPW from Patersons are available now. For more information please email enquiries@patersons.net.

About Patersons HR and Payroll

Headquartered in Salisbury, U.K. with offices in the U.S., central Europe and Asia, Patersons HR and Payroll is a leading global HR and payroll software and services business delivering expert solutions to clients in more than 160 countries. The Company’s secure Internet-based software as a service is multi-currency and multi-lingual (covering over 30 languages), features an easy-to-use interface, supports fast implementation times and facilitates integration with existing systems. Patersons HR and Payroll differentiates itself by: one contract, one software solution, one enterprise interface and one cohesive system approach. As a result, Patersons has proved the impossible by being able to run multi-jurisdictional payroll rules for multiple clients on one database and one instance of source code worldwide.

Jeanne Achille
The Devon Group
(732) 706-0123, ext. 11
jeanne@devonpr.com


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