| How's it
work? The E.Comm
feature is an option found only within Nexus XP v. 3.2 and later. With this
enhancement, each cemetery has the opportunity to add electronic bill payment plans for
any of their clients should either the cemetery or client choose to do so. The
system is flexible enough to apply this program only to clients interested in electronic
payments and can be set for as many different payment days as required by either the
cemetery or the customer.
For Nexus XP clients, the E.Comm
element reduces cash flow risk by managing the installment payment collection process.
Following a simple authorization protocol, cemeteries and their customers are
qualified to take advantage of the convenience and economy of Electronic Bill Pay. On the
specified day(s) of each month these predesignated installment payments are automatically
transferred out of each registered customer's account and deposited into your company's
bank account. After the transaction has successfully taken place the Nexus XP System
is electronically notified. Nexus XP then automatically processes the payment just
as if it had been manually keyed into the system, but without the data entry or processing
on the cemetery's end. The payment is recorded and the balance due is calculated.
Cash allocations are distributed to commissions, bonuses, overrides, care funds and trusts
as liabilities are reduced. The entire payment process has been completed with
safety and accuracy and without the intervention of staff. The nightmare of
delinquent accounts going 30, 60 or 90 days without response to costly letters, repeated
phone calls and expensive collection services is finally at an end.
Following the completion of the
payment process E.Comm generates a comprehensive statement that tracks each electronic
transfer and deposit as to customer, contract, payment amount and date processed. You are
immediately alerted to insufficient funding of payments and you are apprized of the total
amount of cash received by your account.
Installment payment customers by the
millions nationwide are electing to trust electronic bill pay to make their
payments. This new trend is fueled by the difficulties experienced with the rising
costs of postage and the inconvenience of the postal system.
Benefits:
- Automated payment processing
eliminates late and partial payments.
- Faster receipt of funds becomes a
reality, as payments are no longer in limbo while checks make their way to your offices
and accounts through the mail.
- Improved cash flow, stabilized installment dates and consistent
payment amounts are certain through payments initiated by the cemetery and Nexus XP rather
than initiated by the customer.
- With the automated clearing houses of E.Comm enabled Nexus XP,
there is no need to set up arrangements with each of your customer's banks. Instead,
simply register the new account number and payment option when the contract is generated
and let Nexus XP and E.Comm handle the rest for you.
- Non Sufficient Fund (NSF) checks are automatically processed and
reprocessed eliminating the need for daily interaction on payment collections. Once
the check is processed or deemed uncollectable, you are notified electronically instead of by mail, which makes NSF Recovery faster
and easier.
- Electronic Bill Payments are given priority over paper checks and
therefore processed first each day by banking institutions. This concept moves the
collection of your money to the front of the line at the bank and eliminates the delay of
traditional payment processing.
- All electronic payments are completely and automatically logged
within the Nexus XP system, which eliminates the need for the individualized and
time-consuming data entry of non-electronically processed payments.
- You save money because invoice preparation, paper and envelope
use, and ever-increasing postage fees are eliminated with each payment processed
electronically instead of through traditional banking methods.
- Labor costs and errors related to data entry, check handling
and trips to the bank are significantly reduced.
- Security of you and your
clients banking information is assured through 128-bit encryption, Secure Socket Layer
(SSL) software and digital certificates, which means that you can be certain that all
transactions are processed quickly, securely, and reliably through the Federal
Reserve’s automated clearinghouse.
To begin using E.Comm enabled Nexus XP
at your cemetery, all you will need to do is upgrade your current Nexus XP software to
version 3.2. If you are a current Nexus XP support subscriber you can upgrade for free
today. Simply contact MBS support at 800-844-4447 or at support@mbs-intl.com to get the latest upgrade and
they will tell you how to set up your accounts to receive electronic transfers through
E.Comm. Thereafter, each new contract that it is desired for can be set for
electronic bill payment.
If you are not yet a
Nexus XP client and would like to upgrade to Nexus XP or purchase a new Nexus XP cemetery
software system for your cemetery or combo, contact our sales department at 800-844-4447
or sales@mbs-intl.com.
Don't forget,
E.Comm enabled Nexus XP and electronic payment processing for cemeteries is only available
from MBS, Inc.
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