Automated Payments
Our secure cheque printing solution and BACS-iP payments system can increase your cash flow, reduce administrative and labour costs and improve security.
Our secure cheque printing solution consists of an output management system and a specially adapted laser printer with additional security features. The printer uses MICR toner so that even the magnetic numbering on the cheques can be added at print time. The cheque stationery can be produced to your precise specifications, by a specialist cheque printing company.
Our BACS-iP is a highly secure electronic funds transfer solution for the payment and collection of funds. It allows companies to collect funds from their customers' bank accounts, and to transfer funds to their employees and suppliers.
Automated electronic payments and collections include:
- Supplier Payments
- Salaries and Wages
- Direct Debits
Improved Business Efficiency
DbBACS-iP users report greatly increased efficiency throughout the organisation, as traditional methods of funds transfer are now streamlined by using e-commerce solutions. A true multi-user system, DbBACS-iP enables any number of authorised users to process BACS transmissions directly from their own desktop.
Time Savings
Substantial time savings are achieved, with no more cheques to print, sign or post. Just a few mouse-clicks and all payments, etc. will be automatically sent electronically - in seconds. For easier reconciliation, only one entry per transmission appears on the bank statement.
Cost Savings
Vastly reduce administrative and management costs, as well as bank charges. Postage and handling costs are eliminated, as is expensive pre-printed cheque stationery. As a result of implementing DbBACS-iP, users find it much easier to negotiate increased supplier discounts because of more efficient funds transfer. For multi-site organisations, authorised users can submit BACS transmissions through one central BACS server engine - dramatically reducing costs whilst providing greater security and simplifying support.
Security
Eliminating cheques also eliminates the possibility of internal and external cheque fraud. Vastly improve security by restricting access to confidential & sensitive information.
User-profiling offers the facility to enable one user to prepare a submission, one to queue it ready for transmission and yet another to action it with a BACS password. The system automatically blocks transmissions where individual record or transmission totals exceed pre-defined values for the specified profile. Full audit trails are provided for total peace of mind.
Compliance
Automatic archiving of all transactions together with full audit trails helps ensure corporate compliance.
Fast Payback
The dramatic savings in transaction charges, stationery and labour costs mean that DbBACS-iP typically pays for itself in just a few months. Automatically sending out the associated remittance advices with other products from Version One's suite of eBusiness software modules - DbFax and DbMail - will provide even greater savings.
