The right electronic bill processing solution offers several advantages, including:
- A payment option that can handle both client-defined and single-use bank accounts
- The ability to manage and track payment transactions online
- Complete 1099 management, includingIRS name validation, B Notice filings, call center support for provider inquiries and and processing of provider name and address corrections
- A fully electronic payment/remittance distribution solution that will save money
- A fully compliant electronic payment/remittance solution that will reduce fraud and waste
The key to an effective bill payment solution is a sophisticated distribution engine that is constantly being updated with payee information, thus ensuring payment and remittance data are continually routed in the most effective manner. This will increase efficiency, reduce costs, improve turnaround times and have a positive effect on security and fraud protection.