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Article: Are You Tracking Accounts Receivables?

Contact Us:
2230 Towne Lake Parkway
Building 400, Suite 110
Woodstock, GA 30189
Phone: (800) 397-2380
Fax: (770) 928-9328
tygh@vantagecard.com

System Features and Benefits

Customer Profile Screen on the Biller's Web Site

• Allows customers to self-activate electronic bill presentment and payment service
• Allows customers to select bill presentment options: standard text, HTML
• Allows customers to select payment drafting options: customer-initiated payment, automatic draft, or safety draft
• Allows customers to use any financial institution for bill payment
• Allows customers to change their bill payment profile at any time, e.g., bank and email address
• Reduces errors because the screen is pre-filled with indicative customer information
• Validates financial institution ABA transit routing number input to reduce payment processing errors
• Eliminates customer data entry requirements for biller
• Automatically generates ACH pre-notification transactions to the customers' financial institutions

Bills Sent Directly to Customers

• Eliminates the need for customers to retrieve bills from a third-party; site-bills sent directly to customers via email using the Internet
• Allows the company to totally control the content of the billing message, e.g., graphics, billing information, and advertising messages
• Allows the company to control customer interactions
• Eliminates paper-based billing and payment processing costs: paper, printing, postage, etc.

Payment Entry Hyperlink on the Emailed Bill

• Allows the customer to simultaneously view an email bill and make a payment
• Eliminates errors because the payment screen contains the customer's account number
• Allows the customer to change the payment amount and effective date

Customer-Initiated Bill Requests

• Allows customers to request bills if not received or if they delete the email message
• Minimizes customer-inquiry and service calls

Transaction Warehousing

• Allows customers to make payments immediately after reviewing their bills
• Automatically stores customer payments based upon effective date
• Automatically releases customer payments to the company's Accounts Receivable or billing system on the effective date
• Provides better control of the company's cash position by reporting pending payment totals by effective date

Automatic Payment Generation

• Generates payment transactions in ACH format
• Generates payment ACH payment batches by effective date and transmits them to the company's financial institution for entry into the Federal Reserve system
• Generates payment information in correct format for import into existing accounts receivable or billing systems

Customer Payment Profile Database

• Interfaces the company's billing system with bill presentment processing
• Contains all the information needed to generate emailed bills and ACH transactions
• Maintains a rolling 12-month history of bill presentment and billing history, e.g., bill date, amount, payment date, effective date, etc.

Past Due Processing

• Automatically resends bills "x" days past the bills due date
• Eliminates the need to modify existing Accounts Receivable or billing systems to generate past due electronic bills

Comprehensive Security

• Controls access to the Customer Profile by requiring account number and password entry
• Encrypts transmitted information using Secure Socket Layer (SSL) technology
• Functional level security for processing control and customer service