Customer direct debit processing

Need: A solution to change how transactions are being entered into the finance system.  

Description: An organisation currently tracks transactions manually, by recording payments and allocating the payment against the correct customer accounts and relevant invoices. If a customer fails to make a payment, it is often a complicated procedure for the organisation to recognise which invoices are outstanding. An error-prone and costly process, the organisation requires a solution that will change how they can handle customer payments/transactions in order to save time and effort.

Strategy: Financial Transformation

Solution: With a Cloud Accounting and integrated payment solution, the organisation can have the peace of mind that customer transactions are synchronised to the finance system automatically and in real-time. With payments being allocated against invoices simultaneously, the organisation is able to track which customers and invoices still need to be paid, improving cash management and efficiency.  

Benefits

• Automated dunning process to save time retrying customers manually
• Auto allocation of payments to invoices to provide greater credit control insights
• Real time synchronisation of payments will save time having to manually enter each one