Disbursement Technology: Here’s Why Your Business Needs It In 2020
By ClearCycle Team
The feeling of uncertainty looms large as we collectively grapple the COVID-19 pandemic. While this is not the first time the world has faced the sudden emergence of a crisis, it is certainly the first time that businesses everywhere have to deal with such unprecedented challenges. Most of them have been hit hard, some have come to an absolute standstill, and effectively dealing with the situation has become a massive challenge globally.

From small businesses to big corporate giants, the question for everyone in the entrepreneurial world is the same – how to navigate the crisis and remain operational? As experts from across the industry share their insight, several critical factors (which are as much about recovering from the current crisis as they are about long term sustainability) have surfaced as golden rules for everyone. From avoiding critical mistakes to better planning to reassessing existing models, as conversation revolves around crisis management, here’s taking a look at how disbursement technology remains a reliable model for businesses.

1. Strategic Management of Payments and Business Expenses
Simply stated, bill payment is an important element of any business. From workforce salary to payments to suppliers, vendors, subcontractors or paying commissions and fees, all businesses have to ensure sales and operational costs that need to be timely disbursed so as to retain customer satisfaction and ensure continuity. Disbursement service providers strategically function to streamline professional financial transaction processes, making them faster, cheaper, safer and highly convenient without any additional effort on your part. From high volume claims payments to innovative payment models, the services are structured to suit every business as per requirement.
2. Comprehensive Services Ensure Better Management

Disbursement management systems are solution centric. They are designed to empower businesses through their comprehensive and well-planned set of services that can help monitor risks, enable better decision making and improve overall performance. From managing industry challenges such as audit, legislative or legal compliance to offering intelligent market and financial insights, disbursement and finance management tools can outweigh several critical problems like error reporting, customer dissatisfaction or easing compliance burden.

3. Optimized Time Management Means Stronger Value Building
Whether it’s an insurance claim or remuneration for work, payment needs across B2C and B2B models are similar in many aspects. Almost all businesses seek a secure, traceable and fast payment module and modern disbursement technology delivers the precise leverage for businesses by simplifying the entire payment process. By embracing time efficient payment solutions, businesses get to not only reduce administrative burden but also utilize their time for scaling operational efficiency while simultaneously strengthening brand credibility.
4. Cost Effective Model Helps Retain Flexibility
At a time when the entire global economy is undergoing a crisis, ensuring your business stands on solid ground means avoiding crucial capital related risks. Strategic employment of disbursement technology can help reduce several types of costs related to paper-based payments like processing, postage, bank fees, error handling, customer service, tracking etc. Valuable associations with reliable financial service providers can allow businesses (based on their needs) to strike the right balance between managing costs and ensuring financial flexibility.
5. Risk Mitigation Means Stronger Integrated Performance
Partnering with a credible financial services provider helps firms and start-ups overrule many potential risks like fraud, insecure transactions as well as errors related to manual accounting. Additionally, by offering you guidance and generating relevant insight, they can assist you in developing an effective strategy for further strengthening your business.
As we reflect on the massive challenges that the year 2020 has rolled in, a few things have dawned upon everyone:
• The significance of long term planning for both traditional business models as well as new players.
• The need for more reliable information, and
• The need for sustainable collaboration along with innovative approaches.

While there are no concrete answers about what the future holds, yet in the midst of all the fear and uncertainty, people are realizing that in rethinking strategies and organizational models, one has to continue being optimistic about the possibilities that many of our existing models can still offer.

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