Automatic bank
feed – payment received
OMS is designed to save every possible minute of labor time in an Enterprise.
Hence instead of manually entering each bank payment transactions, you can automatically view
all records on your screen by simply downloading your bank transactions from
the prior period and uploading the CSV file in the OMS.
Then they just have to single click (apply) received payments to appropriate clients in your
OMS. Depending on the speed of your accounts receivable staff, this automation
can save minimum of 4 hours per 50 transactions per work-day. At an average Enterprise
cost of $2.50/minute, most Enterprise would save approximately $156,000/annum (260workdays
per annum x 4hrs x 60mins x $2.50 per min Enterprise cost).
Note – Enterprise cost can be calculated by dividing total
cost by total paid hours.
OMS is in a discussion with major banks to obtain automatic API feed so that the download/upload process can be eliminated.
