In the era of technology-driven, the idea of online business has to be a comfortable and practical transaction. To support this practice with a more convenient business transaction, a new technology regarding the payment process has arrived in the market. The name of the product is the Automated Clearing House (ACH) payment, which uses an electronic network system that can handle many different transactions in the United States. You can use it to pay payroll deposit, mortgage bills, electrical and telephone bills, insurance bills, e-commerce payment and many others. For a business owner, this computerized payment process can bring many advantages to collect different order payments from customers. Learn the benefits using the ACH payment process to ensure that you have to get one for your business.
Some businesses have limited payment option that leaves a customer with email or telephone to confirm and pay the transaction. This way, your customer will be less eager to pay sooner after ordering and worse, your business will be left behind. It is different when you automate your payment process using the ACH network system. It helps you collect orders timely as your customer has more convenient access to pay. More importantly, it can help you do your complex finance immediately without any delay.
Faster Withdrawals Access
ACH withdrawals take less time than regular bank withdrawals. When a bank needs a week or more to process your withdrawals, it only needs days with ACH payment processing. When you have a majority income form ACH payment, it will enable you to get flexibility in recording the reimbursement in a company’s account.
Accessible Data Transaction
ACH will help you to keep track of your finance and order payment. In this respect, you will no longer neglect the late and neglected payments. It can help you to reduce the cost of both internal and external collection activities, like stamps, phones and paper from your operational cost. It happens because you can keep and look back at the transaction data in the system software that you can access easily. These data should be kept in an encrypted data storage as it is necessary to protect data from hardware theft, fire or flooding.
As the ACH payment process takes advantage of financial data systems technology, there is a chance that it can be a target for fraud. The attack of fraud can be from both inside and outside the system. However, you can stretch out your feet as the firewall will help you secure your financial data. To put extra protection, follow this security advice to reduce malicious activity involving the employee.
The first thing to check is only assigning a job related to the secret data system to permanent and trustable employees. Then, separate the responsibilities that are crucial and not let them have double or even multiple duties. Please take a regular evaluation with an intensifying time for certain positions. The most important one is resetting passwords regularly.