Posted:

The use of automated payment and payment processing can help an organization to save time

The use of automated payment and payment processing can help an organization to save time, workforce, and money. The automated system enables the organization to store customer information using the one-click method. The one-click method also allows customers to process their payments enhancing better customer experience (Ecommpay, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). The automated payment system contains an online payment portal that will enable customers to access their information to conduct the process of payment by themselves easily. The online portal of the system enables customers to go through their information correcting, establishing, or securing any sensitive data before the business is required to get involved.
Another method that can be used by the company to automate payment process is the Automated Payment System (APS). APS is managed support payment processing system that is offered through a third party to the organization for enhancing the customer experience in transactions. APS services ensure that customers can withdraw and pay recurring payments to their banks on a set time of date for a specified period (Automated Payment Systems, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). APS method helps the business and its customers to save time, workforce, and costs in conducting a business transaction. The last method that can be applied by the organization to automate payment processing is the Automated Clearing House (ACH). ACH is a network that processes electronic transactions of funds being transferred from one bank to another. ACH is important in the business as it is processed and regulated by the Fed, which creates trust among customers regarding the legitimacy of the transactions being conducted (Saslaw, n.d).
ACH is also cheaper, faster, and saves time as the customer does not have to do anything differently as the same account, and routing numbers are used in each transaction.
There are several positive impacts that the one-click method has on the operational health of the organization. Some of them include fast where workers can optimize their time into improving other operations in the organization rather than spending much time on financial transactions. The one-click method also enables the organization to choose its customers based on the demographics and device. However, the negative impacts that can be caused by the one-click method are that it requires high skills employees to set up an effective operation which might also take a lot of time to train employees. The cost of running the one-click method can quickly add up if the system is not well monitored and optimized (Jacobsson, 2017). Automated Payment System (APS) positive aspects to the organization include the ability to control disbursement, including the history of all transactions made and amount spend. Another positivity of APS is that it reduces the risk of theft and loss of the organization finances, it is user-friendly, and convenience for transactions that are performed t the same time, anywhere.
However, the negative part of APS is that there is a risk of being hacked since the security availed for the system is minimal. ln the process that the internet connection of the organization fails, the APS cannot conduct transactions which may cause losses to the company. When it comes to Automated Clearing House (ACH) method, positive aspects to the organization include increased security since transactions can only go through when both parties provide authorization to their respective banks (First Data Corporation, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). However, the negative aspect of ACH is that all transactions are processed in batches which create an accumulation on the network, causing a delay in the transfer of transactions.

Order | Check Discount