Step 4: Service and Money Management System
Program or service delivery often has cash flow implications that must be executed in accordance with financial controls, delegations or thresholds. Program delivery is integrated with financial decision making. Payments or cash receipts are processed in accordance with your financial controls and integrated with your General Ledger.
Depending on your business, service management can include a final decision to deliver on a given service. Execution often includes receipt of monies in exchange for services rendered or payment of monies as part of program’s mandate. Sometimes receipt or payment of money is directly related to service management. Other times, it is a non-financial event with financial implications related to resourcing delivery of the service.
Activities can involve salaries, goods and services and so forth. RDC includes a complete cheque processing and reporting capability.
Service management can often trigger activation of resources. Processing of financial data to and from your General Ledger contained within your core financial system is dynamically updated in a controlled, monitored fashion that protects the quality and integrity of entries.
When a service includes direct handling payments, a full range of security features ensures activities are full controlled or monitored by your business or financial institution with whom you bank. This includes both disbursements or collections, depending on your program or business model.
Expenses and Payments: In accordance with your internal controls, line staff may request a payment be issued to eligible, approved parties to a given program. Similarly, payment for goods received can be aligned with internal procurement or inventory systems. The Workbench Module is capable of generating payments to be printed as an MICR compliant cheque or bundled into a consolidated payment and issued via EFT for direct deposit (we provide a complete cheque management system). Financial events are captured directly or loaded into your internal financial or material management systems the moment a payment is authorized.
Payment processing is strictly monitored with a full range of anti-fraud controls for both preventive and detective monitoring of financial events involving process of payments.
Income and Revenue: Further to a program’s mandate, line staff may receive a payment in exchange for services for a given program. Revenue can be accounted for and integrated with a range of Point-of-Sale (POS) systems that collect cash or process credit and debit card payments.
In consultation with the program sponsor, and based on a program’s methods of revenue, Rogue’s Program Fees Collection ‘Electronic Business Agent’ plug-in can be configured to integrate with various POS systems, in accordance with your rules governing the receipt and processing of payments to a given program.