Comprehensive Financial Management for a Higher Degree of Success

| February 24, 2014

Comprehensive Financial ManagementIn today’s increasingly digital consumer marketplace, small businesses can benefit from expanding the payment options available to buyers in stores and through online purchasing venues. Advanced software systems are available to help companies navigate these multiple payment types and track transactions effectively from first contact to final receipt of funds. By taking advantage of these new systems to provide added choice for customers, small businesses can improve their online reputation and increase their sales both online and in the brick-and-mortar marketplace.

ACH Payments

Automated clearing house (ACH) systems provide the support necessary to manage electronic transactions in the small business marketplace. These ACH transfers typically incur lower fees than comparable credit card transactions, making them a more popular choice for small businesses and consumers alike. Tracking and processing ACH transactions locally can help smaller companies manage these payment methods more effectively and can streamline the entire process for greater productivity in the workplace environment

Banking-Specific Applications

Smaller banks and credit unions can also enjoy added flexibility and can improve their customer service reputations by offering advanced ATM systems, improved telephonic support for customer accounts and consumer loans and software packages that can enhance accuracy in the workplace. These financial institutions can enjoy added productivity through integrated systems that include the following.

• Comprehensive ATM management functions that monitor cash outflows and provide critical alerts for cash shortages, necessary maintenance and ongoing use analysis information

• Budgeting and performance analysis to boost profitability in the direct-to-consumer financial marketplace

• Advanced teller support functions that automate some elements of deposits, payments and other counter functions to speed customer service in the brick-and-mortar banking environment

• Fraud prevention services and advanced security measures to protect consumer financial resources and to ensure the safety of consumer financial information inside the bank and during online transactions conducted through the banking websit.

These banking solutions can provide real support for smaller financial institutions in today’s highly competitive online consumer marketplace.

Enterprise-Class Solutions for Financial Management

Larger companies can also benefit from advanced payment processing systems and platforms that incorporate the most important elements of modern consumer finance. Credit and debit card payment processing, monitoring and recording can be streamlined and automated, allowing the company’s Internet storefront to function more smoothly and more quickly on behalf of consumers. The advanced encryption and business security features included in many financial service platforms can offer cutting-edge protection for corporate data, consumer payment information and personally identifiable and sensitive personal data collected during the course of completing an online transaction.

Expanding to the Mobile Marketplace

Choosing a financial management and consumer payment platform that offers real compatibility for mobile users can significantly expand the potential customer base for businesses of all sizes. For banking institutions, allowing consumers to check balances, make bill payments and manage credit accounts through their mobile phones and tablet computers can enhance the customer service experience for users and can expand the potential customer base for banks, credit unions and other smaller financial companies.

Implementing an integrated and comprehensive payment and financial management package can help companies achieve a higher degree of success in the consumer marketplace and can ensure that banks and credit unions offer the tools and services their customers need in the modern technological environment.

As a banking expert, Mona knows the importance of providing customers with enhanced ease-of-use on all transactions. By investigating the solutions from companies such as ProfitStars and Oracle, she believes everyone from small business owners to credit unions will be able to find software that works for them. 

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Category: Finances

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