Guide on Disbursement Management System
What are we going to Cover? ● What is Disbursement Management? ● How Disbursement Works? ● Types of Disbursement? ● What is Disbursement Management System? ● Where to get Disbursement Management Solution?
What is Disbursement? According to Wikipedia “A disbursement is a form of payment from a public or dedicated fund. Alternatively, it means a payment made on behalf of a client to a third party for which reimbursement is subsequently sought from the client.� In very simple disbursement is just paying out of funds or money whether to renovate house, purchase anything or to run a business. Disbursement are part of cash flow which is net amount of money spend & came in or through a business.
How Disbursement Works? Disbursement is payment made by a company in cash or cash equivalents during a specific set of time, like half yearly or yearly or quarterly. Disbursement are managed by a employee of company responsible for managing all the details of transaction by keeping their documented entry. Entry of disbursement should include the date of expenditure, payee name, amount given or taken, method of transaction & purpose of transaction. All these details effect companies overall cash balance.
Types of Disbursement Cash Disbursement It is disbursement of cash paid in exchange of any goods or services. Cash disbursement can be made on various scenarios & by various payment methods. It can include refunds to a customer, dividend payment etc & can be made with a check, fund transfer or coins.
Financial Aid Disbursement THrough this disbursement process financial aid is paid to the educational institutes or concerned person. In major cases it directly goes to college or university. Such disbursement are briefed by school and loan services in writing which includes the amount of loan and expected disbursement date.
Will Disbursement These disbursement process includes distribution of assets from a deceased person's estate. The executor is personally responsible for protecting the estate legally until the probate process gets completed & the assets are disbursed.
What is Disbursement Management System? Disbursement Management is management of all companies cash flow & helping in improving & maximizing cash flow of any business while simplifying their Financial Operations. Disbursement Management System helps in optimizing & improving business operational efficiency along with lowering disbursement cost while enhancing financial control across all lines of business and geographies.
1.9 Billion $ According to Alite Group US Companies make more than 1.9 billion dollar payment to consumer annually. All these payments also known as disbursements, include insurance claims, rewards, rebates and payments from businesses to workers.
Where to get Disbursement Management Solution? With so much importance of disbursement management system, softwares & tools where do you actually get it for your company?
ClearCycle Clearcycle is the best solution provider for Disbursement Management. Clearcycle is leader in Finance and Disbursement Management System. Since 1983, clearcycle has provided payment solutions to a wide cross-section of major American companies in Healthcare, Insurance, Retail, Manufacturing and Logistics businesses.
