Expanding its place in the global payment ecosystem, cloud technologies introduce businesses to innovative methods. Mehmet Öztürk, CEO of BulutTahsilat, said, “With our Online DBS product, which facilitates the collection processes between businesses with a widespread distribution network and their dealers and distributors, we have brought the guaranteed collection transactions to the cloud. Thus, we have gained cost advantage by providing speed and confidence in payment transactions to all parties.”
Cloud technologies are becoming increasingly common in the global payment traffic, which has slowed down with the effect of the pandemic. According to the Global Payments Industry Report prepared by McKinsey & Company, global payment revenues, which decreased by 5% in 2020 to $1.9 trillion in 2020, are expected to reach $2.5 trillion by 2025. Projecting the future of payment revenues, the report predicts that the increase in both the number and share of electronic transactions in payment methods will accelerate. Stating that the basic payment services that provide cash flow for businesses, dealers and distributors have started to commodify with cloud technologies, BulutTahsilat CEO Mehmet Öztürk said, “Innovative payment methods that combine cloud technology with high value-added services and solutions provide companies with many advantages as well as ease of collection. With the Online DBS product we developed, we gathered all banks’ Direct Debit Systems (DBS) on one screen. We have eliminated the additional costs and loss of time that can be caused by the use of checks and letters of guarantee in payments. We support their productivity by preventing the disruptions that may occur in payment periods and enabling businesses to focus on their core business.”
Business sheds light on the financial decisions of dealers and distributors
Saying that the Direct Debit System enables automatic transfer of payments between businesses, their dealers and distributors, BulutTahsilat CEO Mehmet Öztürk said, “With the Online DBS product we have developed, businesses can automatically make collections, easy cash flow tracking, option to change invoice debt information, debt inquiry, invoice We offer advantages such as discounting, dealer limit and ease of tracking credit risk information. We save dealers and distributors from their expenses with check, promissory note, money order and EFT processes, and we also play a decisive role in their finance strategy by enabling them to view all debts on a single page.”
It brings users together in a secure pool online.
Mentioning the difficulties caused by choosing different banks in payment transactions between businesses and their dealers and distributors, Mehmet Öztürk said, “Businesses can prefer to work with more than one bank. Dealers and distributors, on the other hand, can expect businesses to make DBS agreements with the banks they work with. With Online DBS, we enable dealers and distributors to see DBS limits in all banks, and with our smart forwarding option, we ensure that invoices are collected from the bank with the most appropriate limit. We bring the parties together in a secure online pool with our authorization and limit mechanisms. We guide all payments by reporting the invoices waiting to be collected.”