The act of disbursing out money in the form of payments can include funds paid out for companies to run their business, for organisations to spend as cash, dividend payments or an amount of money which need to be paid out on the behalf of a connection to a transaction.
When money is disbursed to a business, it becomes cash flow for the company. Cash flow is an important measure that can be used to gauge as businesses revenue. Outflows or disbursements are ideal as there will be more money flowing in, rather than flowing out. If cash flow becomes negative, (disbursements are higher than generated revenues), the business has the potential of going into insolvency.
Who can use it?
Government agencies around the world, just like the ones in Australia, are constantly looking for ways to improve the services that they offer to the citizens of their countries. At the same time, they are stuck trying to save the challenge of doing more with less, with no thanks to limited resources and continued budget cuts.
Today there are numerous Federal and State government agencies mandating that all payments should be processed electronically. This eliminates the need for costly paper check payments, as prepaid cards have emerged as the payment method of choice for many receivers of government disbursements around the world.
How does Government Disbursement work?
Government disbursement can be performed by using a platform that is integrated and connected to prepaid cards. As a part of the process, money can be loaded onto the cards via online banking and cloud-based solutions.
The investment in IT infrastructure is minimal and should mostly already be in place. New disbursement programs can be set up in minimal time and most cases in under one month. Changes can be done in real time on an as needed basis, by using the Novatti self-service administrative portal.
What is in our offer?
- Novatti provides all of the tools needed to maintain a consistent and positive experience for end users
- Mobile applications
- Web-based account access and real-time account alert
- Government employees have access to our on-demand reporting and analytics
- Simple to track and manage disbursement programs efficiently
Why Novatti Government Disbursement solution?
- Disbursements can be made with digital wallets or prepaid cards
- Digital disbursements free up government resources
- Assist in the reduction of governmental department operational costs