A smarter way of collecting bills.
Southtech Akashpay.com provides a subscription-based solution to banks which makes the entire bill collection process highly efficient. It ensures very swift bill collection and offers many additional benefits such as automated receipt generation and payment verification by the bill payer.
Collection of bills by banks on behalf of utility companies and other service providers such as universities and schools is a useful service to the public and at the same time it provides interest-free deposits to the collecting banks. In some cases collecting banks also earn extra revenue in the form of service charge. The operational steps to collect these payments are usually entirely manual and very time consuming.
Additionally it provides an end-of-day statement by account (i.e., by utility company, university, school, etc.) which gives a complete breakdown of payments received. Just one entry in the bank’s CBS relieves a bank of unnecessary pressure while the related breakdown can be retrieved from Akashpay.com’s secure database at any time by the all related stakeholders.
With Southtech Akashpay, you will be able to achieve:
- Increased operational competence
- Higher customer satisfaction due to transparency
- Reduced margin of error and ensures efficiency
- Central monitoring for cash flow management
- Real time reporting for quick decision making
- Can be easily integrated with other systems