Tech firm launches late payment automation
Rotherham-based payment solutions provider Gala Technology has launched an automated payment system designed to tackle late payments.
The firm’s SOTpay multichannel suite integrates seamlessly with leading accounting software such as Xero, QuickBooks, and Sage to ensure swift reconciliation and financial management.
The firm said late payments cost the UK economy a colossal £2.16bn in debt chasing alone, with 12% of businesses employing dedicated staff to chase debts. It added that the stress of late payments cast a long shadow over the mental well-being and personal lives of business owners.
“SOTpay is our answer to the global challenge of late payments,” said Gala chief executive Jason Mace. “Our innovative solution ensures that time is spent where it should be – on growth and innovation. We are not just offering a product; we’re providing a lifeline for businesses to thrive in these trying times.”
SOTsync Pro Accounting Interface and the payment gateway Open Banking and Direct Debit integration provide transformative solutions, allowing businesses to reclaim their time and mental space for strategic endeavours.