EPM Systems: How we make your business more efficient
Efficiency is something all businesses strive for, since it translates into a higher success rate. Automated services have greatly increased the efficiency of these companies…most of the time. Payment processing can become an issue for some of these businesses and cause a backup in them receiving payment until the discrepancies are resolved.
When a business or agency (specifically those of a larger size like city utility, water companies) sends out a bill for a service rendered or a product purchased, they usually employ a payment processing company. This company will receive the data from the business in question, and then send out bills to consumers with account information (an account number), the amount due, and instructions on how to pay. When the consumer pays the bill, the money does not go to the payment processing company, but rather, goes directly to the business who originally provided the product or service. Unfortunately, an “automated” system can go awry if any of the information has gotten confused or misinterpreted along the way. A single account number being mistyped or a name entered incorrectly can throw off the entire process. This means that the business then has to take the time to manually figure out the discrepancy, correct the information, and then put the payment through. For a single payment, or even several payments, this might not seem like an ordeal. However, many of the businesses in question have hundreds, or even thousands, of these situations at a time, and correcting them all is a timely (and costly) undertaking.
At Mitchell and Associates, we offer Electronic Payment Management (EPM) software that can restore the efficiency and function of your payment processing. We can evaluate payments to ensure that information is correct on all ends, and then send it on to you. If any information sends up a red flag, we take care of the investigation into the issue by looking over the account and correcting the data. You are guaranteeing that any payments coming into your business are ready to go straight to your profit total instead of being delayed thanks to necessary evaluation.
If you feel that an EPM system could be a good fit for your business, give us a call. We can evaluate your situation, and determine how to best integrate our system into your business. Our goal is to help you maximize efficiency and streamline your daily tasks, which results in more profit for you over time. We are proud to serve the entire Southeast region with the highest quality service, and products from some of the biggest names in the industry. You can trust that you are getting the very best when you partner with us to set you up for success, and EPM systems are the first step on the path to better efficiency for your business!