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CAP
- Collection Automation Process
Introduction
Everyday
banks receive a huge number of instruments for collection and
an equal number of realizations. This is a complex and tedious
process that requires regular follow-ups and accurate calculations.
Cash collection also requires periodic balancing and tallying
of out-standings. This poses great difficulty for the banker especially
because it involves efficient crunching of numbers. Management
Information report preparation also is a daunting, time consuming
task that cannot be postponed or avoided instead have to be precise.
CAP is a comprehensive
software solution that automates the collection of negotiable
instruments like, Checks, Demand Drafts, Bills and Instruments
related to Floor plan. CAP generates documents with MICR characters
that facilitate automated data entry through the industry standard
proof machines. CAP can be installed in individual desktops and
the data can later be fed into the main application using MICR
readers. CAP provides complete management control and monitoring
through its number of reports that are generated.
CAP helps
the processing & tracking of day to day operations in the
following two areas:
- Collection
Drafts – Inward & Outward
- Floor
Plan Lending in respect of identifiable, high value items like
cars, planes, boats, etc.
CAP®
product scope
- Track and
Store Collection Draft information for both outward and inward
transactions.
- Calculates
Commission based on the rules set by the bank.
- Generation
of Credit / Debit Vouchers for Commission and Collections. (MICR
Printing).
- Automatic
reminders to indicate collections due
- Stores
Customer, Draftee and Draftor details.
- Generation
of Letters for Loan Approval, Trust Receipt and Curtailment.
- User ID
and password based access rights
- Database
Compatibility – CAP can be connected with any ODBC complaint
external databases as its backend.
- Single
/ Multi-User Environment
- Desktop
version
- Easy Deployment
- No Additional
Software required
CAP®
objectives & benefits
Timely
collection - CAP ensures timely collection of instruments
through automatic reminders. CAP takes care of periodic balancing
and tallying of out-standings connected with cash collections.
Effective
Tracking of Instruments - CAP enables the bank to closely
track the instruments that have been issued or received for payments.
Details of the instruments, Customer, Draftee/Draftor are collected
and stored to enable tracking of all relevant information for
one single transaction.
Controlling income leakage - CAP ensures complete
collection of commission and provides the bank with the flexibility
to define various methods and standards for collecting commission.
CAP also generates automatic reminders to remind the user of commissions
due.
Effective
Floor Plan Lending - CAP processes, monitors and controls
all activities in connection with Floor Plan lending. CAP generates
the document for approval of the initial lending and fixes predefined
limits for each customers loan account. CAP generates the necessary
debit & credit vouchers with MICR printing and periodic reminders
on the curtailments due.
Management
control
- Lists out
unrealized/ outstanding items at the click of a button
- Daily
Reports on Overdue Instruments.
- Faster
Tracking of Collection Items.
- Timely
generation of reminders for late/ non-realization of instruments
Target
customers
The following categories of customers will benefit
tremendously by using CAP:
- Any Financial institution sending/receiving
drafts or any other instruments for payment
- Financial institutions providing Floor Plan
lending in respect of identifiable, high value items like cars,
planes, boats, etc.
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