An additional communication mechanism for bank’s transactions
Banks will transmit the details of the transactions as xml string and that will be re-usable by customers as ready transaction vouchers to be entered in the accounting software, they use with a choice for modification before posting.
Presently Banks sends SMS for every transaction and that is for information only. In this new communication system, the transactions transmitted to AccXchange- a middleware and windows client for Electronic Data Interchange platform. Banks can introduce these additional services to their existing customers, which is a valuable service for the accounting team of businesses, as they remained informed about the bank transactions with a choice to enter in their accounting system.
AccXchange facilitates to the accounting workers to post these transactions into their accounting system directly. Thus, all the banks transactions can be posted quickly ensuring accuracy. How to use AccXchange for Banks
We have a ready EDI solution to post these transactions into Tally and Busy accounting software and we will publish AccXchange API to incorporate such functionalities in any accounting software used by businesses. Thus, all local software vendors would be in position to get seamless connectivity by using AccXchange platform and thus Bank can penetrate this useful communication service to most of its customers. This service will automate and ease the process of managing Bank Books for accounting purpose for small and medium customers and that will be a great idea to support Digital India Initiative of Govt. of India.
AccXchange is available as a platform and ensure 100% delivery in the most secured way.Benefits for Bankers
Banks can introduce This is a cost effective service is e to the interested customers for a onetime small fee and recurring transaction charges and that can be packaged as a volume of the transactions.
A custom Electronic Data Interchange solution can be designed to have automated/ permission based exchange of transactions from customers to bankers and vice versa, there are many possibilities for the Digital Transformation.