NEW YORK, May 15, 2017 /PRNewswire/ -- Many people remain focused on the recent healthcare bill news and the annual stopgap measures to keep the government funded. But businesses are more interested in President Donald Trump's recently proposed 15 percent business tax rate — a significant cut from the current 35 percent corporate tax figure, billed as the largest tax cut in American history.
While the excitement in the business community is palpable — the S&P 500 Index is up nearly 7 percent in 2017 — tax cuts are but one vehicle for business savings. Efficiency counts too and joining the Automated Clearing House, or ACH system, is a surefire way that businesses, large and small, can eliminate the stress and frustration of manual data input, as well as making it easy to process large batches of payments all at once.
E-Complish, a leading payments solutions provider, is pleased to offer an ACH solution that enables better cash flow and improved collections, lower fees, earlier warning of insufficient funds, and faster notification of settlements. Fully integrated into E-Complish's product suite, which includes VirtualPay, EBPP, HostPay, RecurPay, MobilePay, Text2Pay, and more, your company's accountants — and your customers — will appreciate the enhanced efficiency.
"All you have to do is log into your web-based account, upload a file of your payment information, and click 'Process' and you're done. You can also have the whole process automated using our API integration and Auto Processing," says Stephen Price, E-Complish's CEO. "No doubt corporate tax cuts will help energize American businesses, but improving efficiency shouldn't be overlooked as a valuable savings tool either. Our ACH payment processing system features reliable security safeguards including internet encryption, multi-password protection, and user level security with PIN. In short, there is no other system like it on the market today that works so easy."
ACH processing is a U.S. system for making electronic payments between bank accounts. ACH processing is faster and simpler than writing checks, and can be used in B2B and B2C transactions. Direct debits, like recurring bill payments, and direct deposits like paychecks, are paid using ACH technology.
The ACH processing system is centered on two clearinghouses — the Federal Reserve Banks and the processor operated by The Clearing House. Plugged into the clearinghouses are the nation's banks. Consumers and businesses are connected indirectly to the system through the banks. The system as a whole is governed by the Electronic Payments Association, which sets the rules for ACH processing.
The key to E-Complish's ACH payment processing solution lies in its flexibility and adaptability to current systems. The ACH processor can be used in conjunction with the above solutions or as a stand-alone product. Ideal merchants for ACH adoption are those that take payments over the phone, have regular Internet access, and are eager to increase the speed of their check deposit and clearance.
As if those reasons are not enough to adopt E-Complish's system, there's growing evidence to suggest that eventually consumers will demand this level of transactional accountability and automation. According to the Electronic Payments Association, ACH transaction volume increased 5.3 percent in 2016 compared to 2015 with a transaction volume of $25.6 billion. And of that $25 billion, the ACH transferred $6.1 billion in direct deposits, also a 5 percent increase from 2015.
"The benefits of E-Complish's ACH processing are clear," says Price. "Thanks to the handling of a far greater volume of transaction data, a business's cash flow is greatly improved, as are collections. Add in the benefits of API Integration with your billing system and/or website to facilitate web initiated ACH payments as well as the ability to find, edit, and/or replicate any transaction and what you're left with is an unprecedented business tool. Paper Checks are dying and ACH is now the norm. With that in mind, ACH should be a natural part of your payment acceptance and remittance process."
Since 1998, E-Complish has provided merchants around the country with top online and over-the-phone payment processing services that keep customer data secure and make it easier for retailers to manage transactions. E-Complish uses the latest groundbreaking technology to design payment processing services that deliver ease of use, accuracy and dependability, personalization capabilities, and automation that improves productivity.
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