The Automated Clearing House (ACH) network is used as an alternative to checks and wire transfers for
incoming and outgoing payments. Transactions are originated electronically through the ACH network
and can help your company save on operational costs while improving cash flow.
Collection of Receivables
There is no need to mail invoices or wait for checks to be returned by mail. This process allows you to
collect payments such as rent, utility or membership payments electronically without the processing and
clerical expense of paper transactions. It simplifies your accounts receivable management and helps your
business:
- Ensure timely receipt of payments and speed the collection process
- Guarantee accurate payments from your customers and enhance the credit management process
- Control the settlement date of transactions to optimize cash flow
- Decrease the rate of NSF (non-sufficient funds) and returned items
- Reduce float and receive payments faster
Payables & Disbursements
Payables and disbursements using ACH are a convenient, cost-effective way to manage your money. It
provides a way for your business to pay monies out electronically for payroll, expense reimbursements,
vendor payments and tax payments. You can gain better control over your disbursement funding
operation which will:
- Reduce the cost of paper checks and distribution
- Eliminate stop payment charges for lost or stolen checks
- Improve employee satisfaction with direct deposit of payroll and expense reimbursement
- Allow for timely payments & disbursements
- Reduce exposure to check fraud
- Maximize funds usage to eliminate excess deposit balances which can be invested or used for other activities
Contact us for more information.
To make managing your business even easier, you may want to consider the following products
and services: