MONETT, Mo., April 3, 2013 /PRNewswire/ -- Jack Henry & Associates Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today introduced BillSimple™ from iPay Solutions™, the electronic invoicing and receivables management system that simplifies how small business customers bill and collect receivables.
A survey from Experian found that in 2012, on average, businesses waited 29.2 days for payments after issuing invoices and as a result paid their bills more than one week past due. iPay Solutions' BillSimple enables financial institutions to offer self-branded invoicing with the option to accept credit card and ACH payments. Now, businesses can invoice, collect, track, and manage receivables electronically on a single platform. By providing more flexible payment options, they are able to increase on-time payment collection and accelerate cash flow while enhancing customer satisfaction.
Greg Adelson, group president of iPay Solutions, said, "Small businesses depend on consistent cash flow and on-time payments to reinvest back into the company. This valuable customer segment depends on its primary financial institution for efficient and effective financial management solutions, and we are excited to provide our financial institution clients with a competitively differentiating solution that can help them prosper. BillSimple also provides financial institutions with a new non-interest fee-based offering that can boost customer retention and revenue."
BillSimple gives small businesses the flexibility to create custom invoices and easily import disparate customer data. The solution also enables them to leverage current merchant acquiring relationships to accept more credit card payments online and over the phone, as well as set up automatic recurring billing.
For integrated ACH processing, BillSimple leverages ProfitStars' Enterprise Payment Solutions™ (EPS), which offer broad ACH transaction processing including single and recurring prearranged payment and deposits (PPD), corporate credit or debit (CCD), WEB (Internet) and TEL (telephone). Businesses only need Internet access to log into their BillSimple portal and enter ACH payments on customers' behalf. Each financial institution can decide which payment methods are supported at both the institution and subscriber level.
The introduction of BillSimple extends iPay Solutions' ability to serve small businesses. Its Biz 2.0™ small business online bill payment suite offers comprehensive financial management tools specific to these customers' needs, including making electronic payroll deposits to multiple accounts and paying any number of employees.
As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in five performance-boosting solution groups – Financial Performance, Imaging and Payments Processing, Information Security and Risk Management, Retail Delivery, and Online and Mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,900 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates