How do you know which accounts receivable automation software is right for you?
To determine what level of account receivable automations you should consider the following:
How many items do you process in a month?
How much time and staff is needed in your current procedure to process payment?
When you receive the payments, do you receive remittance stubs with the checks?
Do you want the ability to efficiently scan your payments from different locations?
Do you want to keep all the information in-house or have it hosted on a secure site?
There are four basic levels of in-house check processing software.
Check Archive is much like microfilming. Check Archive is a simple solution to just gather the check image. Unlike some other archiving software, Check Archive will also store the check MICR information and optional dollar amount.
Remote Deposit is an inexpensive check scanning solution made for the organizations that "just need to get the checks to the bank".
Desktop Remit much like MirrorImage PPS (below), DesktopRemit can handle processing of remittance stubs and checks, just on a smaller scale.
MirrorImage PPS is the most popular and robust of the four in-house options. By scanning the remittance stubs and checks, PPS will save significant time and money compared to hand processing. There are many additional options and add-ons which can assist in simplifying the task of processing payments. Consult one of our specialist to see what PPS can do for you.
There are two basic levels of hosted solutions.
Internet Deposit is just like Remote Deposit above. With Internet Deposit you are scanning the checks only and electronically depositing them.
WebRemit is for those who want the speed, power and convenience of electronic payment processing but don't want the cost of software, server space or possible extra computers.
"Girard's has not only automated our entire accounts receivables processing function, it has also significantly reduced the time and effort required to process payments."
New Richmond Utilities, WI
Banks offer online bill payment to its customers to virtually any biller from the bank's website. In most cases, a paper check, known as a bill-pay check, is generated and it mailed. This typically takes about four to six days before the customer's payment is received.
We have found these have cause issues and headaches to the employees inputing them in your system.
- If the customer does not allow for the additional time necessary when initiating the online payment, it could result in late fees or service cutoffs. Thus, also the possibility of a call to customer service complaining they made the payment in time
- If the customer has the wrong account number on the check, the headache of looking up the correct account.
We provide a single connection point where you will receive your payments electronically. This will give you the benefit of receiving payments faster thereby increasing cash flow, eliminate the need to manage multiple electronic payment connections and reduce operating cost.
- Offers routing and settlement typically within 24 hours.
- Automatically edits customer account information according to your specifications.
- Eliminates the inefficiencies and expense of paper check processing.
- Provides a single connection to the vast majority of industry providers, avoiding the inconvenience of multiple connections.
Accept payments by credit card, debit card, and electronic check all day every day
- You may either load your bills to our site or allow residents to enter their information before making a payment.
- Visitors then enter the search criteria you define to locate their bills or key-in their information, including an amount.
- Finally, payment is made by credit/debit card or electronic check and a receipt is displayed and emailed - it's that simple.
Voice Response Payments
- Customers call a dedicated toll-free number to make a secure payment from their touchtone phone.
- Save money and staff time by allowing our automated solution to accept payments from even those without Internet access.
Our mobile payment solution uses only a smartphone and a QR (quick response) code or a web or email link for you to accept payments.
Digital Wallet Payments Made Instantly From Any Smartphone
- Scan a code.
- Select a card.
- Pay the bill.