Cash flow is the lifeblood of any business. Customers’ payment processing is complicated because they control how and when they pay you. Most businesses receive many types of payments including cash, checks, electronic payments, and credit cards. Receiving different payment types through different channels usually involves a combination of manual and semi-automated workflow processes. Without an automated accounts receivable system to process your payments, disparate processing workflows creates inefficiencies and negatively impacts your days sales outstanding. Outstanding sales and how your electronic payments are being processed are key metrics to know how well the accounts receivables are being managed.
Streamlining your payment processing with one solution across all payment types and channels is the goal. However, many epayment solutions in the market today make that promise, but are inefficient because they utilize multiple applications branded from one company to try to solve the problem. At DadeSystems, our commitment is any payment, any channel, with one integrated cloud solution. DadePay’s automated accounts receivable system automates the invoice-to-cash application process to increase efficiency and accelerate cash flow.
DadePay Invoice-to-Cash AR Automation system is a straight-through-processing solution that captures all incoming payments, including cash, checks, ACH, EFT, and credit cards. Using a browser with a scanner attached, your AR staff easily scans check and remittance information to begin the process. DadePay can also be used with your existing bank lockbox and improve your operations and reduce your Bank costs significantly. Using our patented automated accounts receivable technology, our electronic payment solutions receive the payment and re-associate the information to the deposit. All checks collected are immediately deposited at your bank. DadePay creates a posting file to update your customers’ AR.
The DadePay ePayment Customer Portal delivers powerful electronic bill presentment and payment capabilities to your B2B or B2C customers. Once self-enrolled into our epayment technology, customers can make ACH payments one-time or schedule payments for future processing dates. You can also accept credit card payments (with surcharging if applicable) at the customer level. Using responsive design, this browser based application will deliver the same experience to your customers whether on a phone, tablet, or desktop. The ePayment Customer Portal is customized to your logo’s, branding, colors, and even the terminology of your invoices, so you can present the information that’s most helpful to customers in making payments electronically.
Another automated accounts receivable system we have to offer any business to maximize its epayment efficiency is DadePay Mobile AR. DadePay Mobile AR removes the operational challenges of accepting payments in the field. Most commercial mobile deposit services offered through your bank only captures the check deposit. DadePay Mobile AR is designed for the field rep to capture the check or ACH payment and the remittance information in one simple process. The mobile app workflow is optimized so that the user selects the customer and the payment type, takes a picture of the payment and related documents and the process is complete. The mobile app can also account for the receipt of cash and be enabled to accept credit cards. With this AR automation technology, you can even email a receipt to the customer.
As common as electronic payments are in today’s digital age, there will be times when you will have to take payments by check—from new accounts without established credit, accounts with collections holds and when you need to collect payments quickly from customers who want to pay by check, to name a few.
DadePay Mobile PayNow merges the need to accept check payments with the speed, accuracy, automation and convenience of mobile payments.