What is the E-Collection System? What are its advantages?

What is the e-Collection System?

The e-collection system is a structure that brings together businesses' invoice issuance, payment receipt, and collection tracking processes in a digital environment, and works integrated with accounting and dealer management systems. It is suitable for almost any business that makes regular or bulk collections, such as businesses with dealer/sub-dealer networks, e-commerce and subscription-based companies, educational institutions, site/apartment managements, associations and foundations, and freelancers.

How does the online payment system work?

The online payment system is the part of the e-payment system where the payment is actually made by the dealer or customer: this includes instant credit card payments via virtual POS, remote payments via payment links sent by SMS or email, installment payment options, and mobile payments by scanning QR codes. Regardless of the method the customer chooses, the payment is reflected directly in the accounting records without manual processing.

What are the advantages of the e-Collection System?

• Fast collection: unlike checks collected in person or by mail which can take days to collect, the amount is credited to the account as soon as the payment link is clicked.

• Automatic tracking: instead of manually entering into a ledger who paid and who didn't, the system shows this information instantly.

• Payment options: credit card, bank transfer/EFT, and installment payments are all offered on the same screen, allowing customers to choose their preferred method.

• 24/7 payment processing: Payments can be collected outside of business hours via the payment link or virtual POS system.

• Customer security: With 3D Secure verification, transactions are authenticated by the cardholder.

• Automatic accounting matching: received payments are reflected in accounting records without having to be manually entered into the current account.

• Time and personnel savings: the time previously allocated for check/bill tracking and manual collection is reduced to checking whether the payment has been automatically deducted.

How to Set Up an E-Payment System?

1. Needs analysis and system selection: number of dealers/customers, collection volume, and existing payment methods are evaluated.

2. Virtual POS and payment methods application: a virtual POS agreement is made with the bank; credit card, wire transfer/EFT, and payment link options are defined.

3. Security configuration: 256-bit SSL certificate, 3D Secure and PCI-DSS compliance are provided.

4. Integration and testing process: integration is established with the accounting and dealer management system and verified through testing procedures.

5. User training and support: accounting and sales teams are trained on system usage, and a live support process is initiated.

E-Collection Terminology Glossary

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An Example from One Sector: From Door-to-Door Dues Collection to Automated Collection

A residential complex management company that previously collected dues manually or door-to-door through staff, switched to an e-collection system and began sending residents an SMS payment link at the beginning of each month. The question of who paid and who didn't is no longer tracked manually in a ledger, but is monitored instantly through the system panel.

"Instead of collecting dues door-to-door at the beginning of the month, we now send a single SMS with a payment link and track whether the collection has been processed through the system," says the company's site management manager.

The e-collection system can also be used independently by non-dealer structures such as site management, educational institutions, and associations; however, in Trizbi, this module is part of the core B2B platform. Trizbi is a B2B dealer management software that integrates with its own ERP infrastructure and manages dealers' order, inventory, accounts receivable, and collection processes on a single platform.

Frequently Asked Questions

What is the e-payment system?

The e-collection system is a system where businesses collect invoices, payments, and collection transactions from dealers and customers digitally through virtual POS, payment links, and automatic payment instructions.

Are online payment systems and e-payment systems the same thing?

Yes, it's the same system called by different names; both refer to the digital collection of payments using tools like virtual POS, payment links, and automated payment instructions.

Which businesses are suitable for an e-payment system?

This program is suitable for businesses with dealer/sub-dealer networks, e-commerce and subscription model operators, educational institutions, site/apartment management companies, associations and foundations, and freelancers.

Is the e-payment system secure?

Transactions and financial data are protected with a 256-bit SSL certificate, 3D Secure authentication, and PCI-DSS compliance.

Will the e-collection system integrate with the existing accounting or dealer management system?

Yes; Trizbi's e-collection system integrates with the accounting and dealer management system, automatically processing collections into the current account.

Would you like to collect payments instantly from your dealers or customers without dealing with check/bill tracking? Try Trizbi's e-payment system for 15 days free of charge, without requiring your credit card information.

Related pages: What is a Dealer Management System? (Comprehensive Guide) · Payment Methods and E-payment