Authorized Cash Management Service (CMS) Portal & App
The "Digital India" initiative has revolutionized traditional methods by integrating digital technology, enabling banks to offer corporate solutions and promoting cashless transactions. BANKIT Cash Management Services (CMS) leverages this opportunity, providing a digital ecosystem for seamless connectivity between customers, suppliers, employees, and revenue departments for financial transactions and information exchange.
Streamlining Financial Operations:
BANKIT's CMS, coupled with its extensive branch network, empowers corporates to accelerate receivables, gain better payment control, and enable just-in-time funding. The system facilitates faster realization of funds, allowing businesses to sell more while reducing the need for excessive working capital. It also provides insights into paid invoices, improving financial decision-making.
CMS for Retailers:
BANKIT's CMS is available through its web portal, enabling retailers to accept payments from various billers. It allows for accepting loan EMIs from customers and providing instant credit to the respective biller accounts. Attractive instant commissions are offered on CMS services, benefitting retailers and expanding financial services to the last mile of society.
Enhancing Agent Network:
CMS benefits the agent network in rural and semi-urban areas by ensuring sufficient cash availability within their outlets for cash withdrawal services. This additional service increases agent earnings and facilitates easy access to cash for the underserved sections of society.
Importance of Cash Management:
Cash management is a critical component of banking services, encompassing the management of cash flows, deposits, withdrawals, loans, and investments. A Content Management System (CMS) software platform assists in tracking, forecasting, and analyzing cash flow data. By automating processes and gaining insights into customer behavior, banks can reduce costs, improve accuracy, and enhance operational efficiency.
Benefits for Businesses:
Cash management solutions are gaining popularity among businesses as they aim to improve financial operations. These solutions enable businesses to efficiently manage their finances, understand cash flow dynamics, and make informed decisions regarding investments and fund allocation. They also provide insights into customer behavior, helping businesses anticipate trends and develop strategies to stay ahead of the competition. With the right cash management solution, businesses can optimize profits and minimize risks.
CMS Cash Pickup Services:
BANKIT's CMS facilitates cash collection for partners such as Zomato, Swiggy, L&T Financial Services, Home Credit, and others. This system allows food aggregators to deposit cash at nearby stores, reducing the need for long-distance travel. The collected cash is then reflected in the bank accounts of service providers, enabling efficient EMI and cash collection processes.
BANKIT Cash Management Services leverages digital integration to provide businesses with efficient financial operations. By embracing CMS, corporates can accelerate receivables, enhance payment control, and streamline fund allocation. Retailers benefit from accepting various bill payments, while the agent network gains increased earnings and the ability to serve the last mile of society. Efficient cash management is essential for banks and businesses, enabling cost reduction, improved accuracy, and enhanced customer insights. Cash management solutions empower businesses to optimize finances, anticipate trends, and maximize profitability.