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Cash Flow Specialists, Inc. Toll Free (800) 669-2700 |
Automate Your Receivables Virtually any business
can benefit from electronic payments, including Internet service providers,
insurance companies, catalog companies, collection companies, cable TV,
city utilities and many others. With our automated ACH/EFT system, you can automatically and electronically debit your clients bank accounts for your recurring billing as well as eliminate the ongoing expense of accepting and processing payments through traditional paper methods. We can also provide the Electronic Funds Transfer service as an outsource solution. Contact us to find out which method would benefit you the best.
Our Advantages:
Reduced Expenses By the automation of your receivables, the time and hard costs required to print and mail your statements, receive and deposit payments, and the expense and lost revenue due to collecting on delinquent accounts can be replaced with a single transaction that costs about the same as the price of a postage stamp. The most successful businesses are those that find ways to improve their bottom line by means of reducing their variable expenses. Speed Up Your Cash Flow The fact that an invoice has a due date does not guarantee that a payment arrives on time. Most companies receive payments weeks, even months past due. By the automation of your receivables your payments arrive on time. Has your company calculated the costs due to outstanding receivables? Retention is THE KEY According to Metropolitan Life Insurance, the biggest benefit they enjoy from ACH automated receivables is account retention. They see fewer policy cancellations among those who pay electronically. The reason for this is simple: Each time a customer sits down and writes a check to make a payment, he must convince himself that he really wants to maintain his policy. When their accounts are debited automatically, however, policyholders are much less likely to think about eliminating or reducing their policy. MetLife sees 50% fewer policy cancellations among its ACH customers. Are your customers thinking about eliminating or reducing your product or service? Click here to read MetLife's ACH user profile. Efficiency ACH recurring debits simplifies your life and improves your efficiency by replacing the traditional method of billing and collection with an easy to use automatic electronic method. You simply enter your customers bank account information and payment information into your software (provided) and with the push of a button the information is processed through the Federal Reserve's ACH network. These transactions (known as electronic funds transfers or an EFT) are deducted from your client's checking account and deposited into your business checking account with one simple step! Improve Your Chances of Getting Paid In a perfect world when you receive a check from one of your customers it would guarantee you payment of those funds. Unfortunately, I think we can agree that we don't live in a perfect world and that checks do get returned Non-Sufficient Funds (NSF). When you use our ACH/EFT system for recurring debits you can increase your chance of getting paid for a few reasons: First, you have the ability to schedule the transactions to be processed on strategic dates, such as logical pay dates, e.g., the first and fifteenth of each month. By doing this the likelihood that funds are available is greater than random deposits. Second, Electronic Transactions (EFT's) are always paid first. In simple terms, if your customer has $100.00 in his bank account and your ACH/EFT transaction hits his bank account the same day as a paper check he wrote at the local grocery store for $75.00 who would be paid? Because your transaction is an EFT, your company would be paid and the paper check to the grocery store would be returned NSF. Reporting Financial officers and controllers understand that without proper detailed reporting the use of any transaction method is less than useful. That is why we provide advanced, detailed reports that allow you to be informed of the status of all your transactions whether it be NSF items, pending transactions, batch reports, future cash-flow and more. You also receive information faster: In the event that items are returned, you don't have to wait days to find out about it. You will know within one business day if an item is rejected. And with the combination of our detailed reporting and advanced resubmission options you will have the necessary tools to handle every situation that can arise. Read about the features of our ACH/EFT system. For pricing, click here.
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