If you cant keep track of payments, you risk losing money and creating more work. Easier said than done in Finance Departments that rely on paper processes, where manual inputs lead to more mistakes, and where the accurate cross-referencing of PO numbers with invoices depends on having access to the right documents at the right time. Without a structured system, things are made worse with part-payments and complicated remittance slips. Before you know it, customer transactions are a tangled mess that take months to unpick.
The SoftCo solution takes cheques and remittance slips into a fully automated system, saving time and money. Amounts paid and outstanding sums are captured and matched with customers account details. Businesses benefit because cheques and remittance slips are no longer disconnected, showing precisely what has been paid and what is outstanding. All the information is transferred seamlessly to financial systems with little or no manual interference and full visibility. Customers are happy because queries are clarified quickly.
- Removes errors and cuts costs
- Matches payments precisely with customer accounts
- End-to-end visibility speeds up query resolution
- Seamless integration with financial systems
- More control means better governance