THE PROBLEM:
 Businesses today are drowning in a sea of different receivables solutions. 

Let's break it down.

  • Customers love the convenience of paying bills online, banking with their mobile devices, and being able to quickly and accurately track their payment records.
  • Companies have responded by offering multiple payment methods and channels, building and investing in separate platforms to make sure they meet their customers’ needs.
  • The average company now handles paper-based invoices, manual reconciliation to electronic invoices, credit cards, ACH payments, and online and mobile payments.
  • As a result, accounts receivables solutions are siloed, requiring increased training, oversight and manual reconciliations that cost time, money and are prone to error. (See our blog posts on the subject for details.)
  • With all these new ways to pay, it’s easy to get mired in platform chaos—but doing so comes with increased costs and opportunity loss.
Payments Problem (1)

THE TRENDS:
 Companies are moving to the cloud, using B2B mobile applications, and implementing RDC and mRDC.

The Cloud

  • Manage all payment methods and channels from a single SaaS interface
  • Reap the cost savings benefits of flexible per transaction pricing and minimal set-up and maintenance fees
  • Cloud providers hire security experts to keep your data safe
  • Never buy hardware again—at least, not for a data center

Going Mobile

  • Look for self-service mobile solutions that your employees and customers alike can use anywhere—like making payments on the fly via mobile remote deposit capture
  • Leverage mobile invoice presentment
  • Our B2B Mobile Payments infographic provides additional insight into what you need to be thinking of as you prepare for accepting mobile payments within your receivables mix.

RDC & mRDC

  • Streamline your check processing across all locations—on a single platform
  • Build business logic into your processes, using automatic reconciliation and intelligent invoice matching
  • Upload outstanding invoice files and automatically get remittance information within a single user interface—which then automatically posts payment information into your back office accounting systems

See our payment trends infographic to learn more.

THE SOLUTION:
Integrated receivables + straight-through processing, all on a single, SaaS platform.

Stop spending time and money on manual work and start giving your business a competitive edge by consolidating your platforms and processing payments on a single receivables platform, securely based in the cloud.

Straight-through processing (payment acceptance, processing and posting in a single pass) gives you:

  • Better oversight: Manage all payment methods and channels in one place.
  • Reduced costs: Decrease manual work and human error.
  • Enhanced insight: Incorporate data analysis into your system.
  • Automation: Institute business logic into your workflows to reduce manual reconciliation.
  • Increased value: Be more than a vendor to your customers—be a partner. Become a trusted resource in every aspect of your customers’ payment processing strategies—not just credit cards.
  • Incremental revenue from each transaction and extended contract length.

Integration

  • Significantly reduce (if not eliminate) time-consuming manual processes for posting payments into your back office systems with seamless integration and true straight through processing.
  • Integrate mobile payment capabilities to existing apps or create new standalone apps—without changing current bank and processor relationships or existing business processes
  • Leverage next-gen scanners to help you reduce manual data entry—not just checks, but up to 8.5” x 14” remittance advices, too

Flexibility

  • Use the low cost/low barrier entry of the cloud to move on your own timeline, and develop new business processes as your need for them grows
  • Don’t get locked into software you can only use with a certain bank or financial institution
  • Pave the way for future growth by partnering with someone who has the capacity for large-scale processing

Security

  • Find a partner you can trust, with experience in the payments space, whose work meets the toughest standards in the industry
  • Make sure your cloud provider is compliant with the regulations in your space—like HIPAA and PCI
  • E2EE encryption ensures that data is encrypted both in motion and at rest

Get Started. Watch Our Demo.

Lower your costs, increase your efficiency, and strengthen your decision-making process with true straight-through processing on a single, secure, SaaS platform.

Want to know more? Fill out the form to the right to view our on-demand demo and see how ETran can help streamline your receivables processes.