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EFS - Electronic Payment Solution
-- Download our Product Overview Document(PDF Format)
Whether you are an online or brick and mortar business, a
city or state government, an association or non-profit --
you can radically improve cash flow by implementing a web
based system to cost effectively present your invoice or bill
and accept payment for that invoice.
DCAS Software Solutions has developed the EFS system to provide
organizations with secure web based electronic bill presentment
and payment. The EFS system automates creation and delivery
of e-statements, e-bills and e-invoices. It provides a web-based
electronic payment solution that allows online payments by
individuals or authorized payment centers.
EFS integrates with your existing Accounts Receivable system,
your EDI applications, vendor applications or payment payroll
applications. All payments or payouts are recorded in EFS
and passed back to your accounting systems immediately upon
approved payment.
Our solution offers those responsible for Account Receivables
a means to improve customer service and decrease the average
pay period for your invoices. Give your customers the convenience
of viewing and paying bills online - at your site, at
a payment center or at your office.
Only DCAS' system is built from the knowledge of a team that
has designed and built check processing and credit card applications
for organizations like MBNA and IBM. Our team has an unrivaled
background in designing and implementing secure and highly
available banking systems. We put this experience to use in
our systems which are built to run at 99.99% uptime 24 x 7
x 365.
DCAS Software Solutions' system has a complete solution for
your supply chain needs including: order management, logistics
management, warehouse management, transportation management,
procurement management and now EFS
electronic payment.
EFS Features
A web-based electronic payment solution that allows three
different ways to make payments: via the Internet, at authorized
payment way they want to pay centers and in your office using
our Check Reader technology.
Payments to your vendors and from your customers are transferred
between you and your bank electronically. The transfer is
completely secure and follows EDI standards for electronic
payment.
Provide your customer the option to have payments automatically
deducted from their checking or credit accounts EFS can be
used for pre-payment on contracts, licenses, dues, and fees.
Once validated, the check, debit card and credit card payments
are sent to American Clearing House (ACH) electronically to
withdraw the funds from the customers' account. Your customer
can have monthly payments automatically deducted from their
checking or credit accounts.
EFS has an optional feature that allows the storing of the
check image or credit card imprint online for later viewing
and printing. EFS keeps EDI payments for up to one year on-screen
and in database for seven years.
Interfaces w/Crystal Reports to generate excellent reports
on paid and Gain immediate visibility to your aging receivables.
EFS Benefits
Be customer centric - let your customers pay in the form
they want at any hour of the day or night.
Cut down the average pay time and increase between you and
your cash flow and liquidity.
Bank electronically. The transfer is completely secure and
follows EDI standards for electronic payment.
Dramatically lower the cost for processing payments. Eliminate
the cost of creating, sending and tracking invoices.
Provide subscription or pre-payment on contracts, licenses,
dues, and fees.
Give your customers the convenience of viewing and paying
bills online - at your site. Funds are validated online and
they are cleared within four days.
Quickly resolve disputes by providing access to transaction
data.
Gain immediate visibility to your aging receivables report
so you can determine whether to continue to provide product
or service to overdue accounts.
Reduced expenses
Reduction in DSO (days sales outstanding)
Increased cash flow & forecasting
Enable non-EDI partners to trade electronically
Provide multiple payment options
Seamless A/R integration
Improved customer service
Manage credit exposure
Checks that are represented in 30 days or less are successfully
collected at a rate close to 73% while those represented in
60 days or less achieve collection rates of 56%. Even checks
older than 90 days have a 31% collection rate.
In a recent survey of large enterprises conducted by the
Association of Financial Professionals (AFP) over 78% of financial
professionals responded that the ability to receive remittance
information electronically and integrate payments with their
financial systems was important to their company. *
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