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Cashfac works with Property Management firms to automate the management of all rent, service charge and bank account payment processing whilst ensuring compliance with client money regulations.
Virtual client bank accounts can be instantly created so that payments and allocations can be managed immediately. Cashfac streamlines management of expectations of payments or receipts enabling single aggregate receipts to be automatically matched to many expected payments. Automatic, accurate and complete accounting entries are created across any number of bank accounts at one or multiple banks.
Cashfac delivers real time multi-bank, multi-currency visibility of fund flows at a local, regional or global level. Unlimited numbers of real and virtual bank accounts can be consolidated into a single view to simplify operational processes. The solution standardises processes across teams, offices and branches, ensuring completeness, accuracy and a full audit trail. It enables senior management to apply a consistent regime of control in businesses that conform to SLAs.
Speed: instant creation of accounts for clients, tenant, deposits, properties, service charge and demand accounts, and the automatic transfer of account information to proprietary systems so that payments and allocations can be managed immediately.
Simplification: achieves high levels of automation and enables instant import of data records such as transactions, accounts balance information and client details.
Secure: multiple levels of secure authorisation to restrict access to certain functions dependent on pre-defined user permissions. The solution is configurable to enable electronic confirmations by single or multiple authorised signatories before payments are released.
Ease of integration: simple connectivity between banks’ and client side systems. A secure suite of Web Service APIs and flat file interfaces are available to integrate and communicate with third-party platforms and update regularly to provide enhanced functionality.
Client Self Service: clients can be provided with a portal to see their own accounts; reducing the internal administration and creating transparency across the cash management process.