PTX - the feature rich, cloud-based offering:
Full Direct Debit Management
Upfront bank account validation and verification
Secure multi-device, multibrowser and multi-user access
Integration with other systems using our API
Bacs approved software: Bacs Direct Debits, AUDDIS, Direct Credits, Faster Payments, HMRC RTI-compliant
Both Direct and Indirect payment submissions, with Smart Card and HSM support.
An intuitive and user-friendly interface, with industry leading compliance for the visually impaired
Set role-based user permissions for users, ensuring all transactions are within authorised limits and secure.
How can your business can benefit from this Bacs-approved module of PTX?
PTX DDM can validate and verify bank account number details against the EISCD (Extended Industry Sort Code Directory), and other specialist data sources, confirming that the bank sort code and account number exist, are active and belong to the person in question.
According to Bacs, a rejected Direct Debit can cost up to £50 to rectify, this additional checking highlights errors at the point of entry and long before the collection of funds is attempted.
PTX DDM creates flexible payment plans that can be easily amended to suit your customers’ needs. Specify a collection date and the system automatically calculates payment frequencies, taking weekends and bank holidays into account.
In compliance with Bacs regulations, and in a few clicks, PTX DDM automatically generates and prints or emails the necessary Payer correspondence and reconciles Bacs reports, making it easy to administer customer payment plans
With PTX DDM, you are able to:
Fully automate the lifecycle and collection of your Direct Debits
Setup flexible payment plans that suit your business and customer needs
Reconcile exception reports (A-reports) against active customer plans
Import payment plans and/or debtors from your ERP, CRM or Finance systems
In four easy steps, PTX then simplifies the transmission of Direct Debit collections and mandates (DDIs) to Bacs:
Step 1 PTX DDM creates your collection or AUDDIS batches on a scheduled or user driven basis.
Step 2 Validate the batch details.
Step 3 Approve the batch using single or multi-stage approval.
Step 4 Release the file for onward submission to Bacs.
PTX DDM is an ideal solution for businesses looking to move away from manual, paper-based processes. It allows businesses to realise the efficiencies and improved cash collection that comes from streamlining and automating their DD process.
Visibility and control
PTX DDM offers smarter reporting and audit trails giving you total visibility of all transactions so you can have complete control of your cash flow at any given point. PT-X’s user-friendly interface also features a logical and easy-to-read graphical representation of your incomings and outgoings at a high level, so you can immediately see what is happening.
Better operational efficiency
PTX DDM integration features allow you to share data between different systems using our API. Data can be pushed and pulled to other systems, such as your accounts package, mobile devices and 3rd party applications to give you better visibility and facilitate operational efficiencies. For example, customer contact information could be captured in one application, which is then sent directly to PTX for the Direct Debit mandate to be created.
Learn more about industry trends with these helpful resources:
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