Payment & Collection Engine, what is it?
Payment & Collection Engine, what is it?
2020 is certainly a memorable year, for its “double number” but also because of the events that involve the whole world and that are upsetting everyone’s everyday life. Moreover, the online world, incontrovertibly, has more and more weight than the offline world. Online payments have increased, and the majority of these now take place via mobile, physical sales have increased as a result of an impulse or information online. The complexity of having to manage multiple interfaces, both physical and virtual, was previously a problem only for some niche operators, but today it has become a fundamental aspect for the survival of any company, in any industry.
Payment Collection Engine: what it is used for?
In this context the Payment and Collection Engine was born today, a software that automates the management of a complex collection and payment system, solving the problem of reconciliation and offering a unique point for the administration of points of sale both online and offline, with both direct and indirect channels.
The advantages of Fabrick’s offer
Having simple, efficient, fast and omnichannel tools is more and more vital to be able to face the market and the recovery. A recovery that will require an effort to successfully metabolize the dynamics of innovation and substantially change the different sales and customer management strategies. It is now necessary to take into account the new habits, and new needs, related to the system of sale and purchase of goods and services, which have undergone a change both in the immediate, but also probably in the long term when some habits will be consolidated.
The need to adapt to change is certainly not new for many sectors but not for all. The distribution and the logistics have evolved distinctly for example from the management of the information that has instead known for first to catch the different revolutions offered by the new technologies.
Payment management key competitiveness factor
In this context, therefore, are winning, especially for realities well distributed demographically as that of our country, those companies that have been able to update and revise their business processes, equipping them with the most appropriate tools and knowing how to better grasp the change taking place.
One of the most complex sectors, where the final product is typically distributed directly online, but also through a battalion of agents and sub-agents, online and offline, is the insurance sector. Facing the challenges posed by this sector, the Payment and Collection engine was born. In other words, the issuer of a policy can sell the same product through multiple channels, offering its partners a system that, due to its centralization and automation, can guarantee more competitive transaction costs (due to the aggregation of volumes) and more satisfactory management times (from reconciliation to real-time payment of the share to the different agents and sub-agents).
Application fields
In addition to the insurance market, the payment management system designed by Fabrick can be applied to a multitude of industries:
– GDO, precisely because of a complex system of logistics from multiple suppliers, with multiple points of sale, and often subject to different market logics;
– Marketplaces, especially for those who have a consortium brand and want to offer points of sale both online and offline;
– OBM, who want to make the most of temporary stores concepts, rather than the integration of distributed points of sale even within megastores and shopping centers.
