EFT SERVICES PROFILE

What is EFT?

EFT is short for Electronic Funds Transfer. It is the means by which to connect onto the bank network for the transfer of funds from one account to another. EFT is widely used by companies who want to do debit collections from their clients on a recurring basis, or want to do credit payments to clients or staff salaries. EFT is very cost effective when compare to other forms of fund transfers and is highly recommended when integration into own systems are required. Few examples of companies effectively using EFT Services:

1. Debit collections

Financial Services Providers
Legal Protection Companies
Vehicle Tracking Companies
Security Companies
Gymnasiums
Colleges or Educational Institutes
Or any other company where bulk collections are required

2. Credit payments

Credit payments on large scale
Salary payouts on large scale
Or any other company where payments have to be made on a recurring basis

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Mission Statement

At EFT Services t/a Softy Comp we:

• Regard professionalism and service-excellence as a basic requirement to be in business,
• Value every team member as an asset to the company and its clients, that will contribute to their well-being with personal skills and diligent, dedicated work,
• Continue our commitment to the success of South African businesses through effective services, and
• moving with integrity and honesty in everyday affairs (which should not even be mentioned).

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Introduction

EFT Services is sub-division of Softy Comp cc and consists of the bureau integrated onto the South African Bank Network as well as interconnectivity between us and our clients.

With collectively over twenty years experience in managing positions, EFT Services has become recognised as a bureau with integrity, honesty and professionalism, while keeping it personal. It pleasures us to see our clients do good, and grow, and where possible, we help in that process.

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Nature of Business

Interconnected banking services

EFT Services, a division of Softy Comp, specialises in system integrations for interconnectivity to the banking network in South Africa.

We have experience in the following business areas:

Financial Systems Financial Project Management
Recurring Billing
Financial Consolidation Management
Micro-lending Administration
Production Systems Production Management Information

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Fields of Expertise

Because of the experience within EFT Services, we are proud to be able to deliver solid system integrations between clients and the banking network:

1.  Experience / systems:

Banking management information systems
Recurring billing systems
Electronic payment service systems
Micro-lending administration systems

The most common components of these systems are financial modules. This is understandable because all business exist to make money, and sound financial management is the key to the success of a business.

Many companies rely on their recurring income via debit-orders. They have signed commitments by their clients that at the end of each month a fixed amount of money may be transferred from their bank account to the company's bank account. One method to facilitate the transfer of this money is by using the Automatic Clearing Bureau service (BankServ). Softy Comp is a registered BankServ bureau, which means we can do electronic funds transfers on behalf of a client. Apart from paying affordable transaction fees, the client is placed in the unique position that Softy Comp can integrate their financial systems with their debt collection modules. The debit-order dates and information are determined by the client and all results are promptly returned to the client for evaluation and possible re-submission. The client is always informed and always has the relevant information to make an informed business decision.

A salary bureau relieves a company of the burden to employ a full-time person to capture time sheets, to keep track of personal income tax figures, to produce salary advice documents, to oversee the actual payment of salaries and to produce payment reports. Softy Comp has integrated their BankServ services with the salary bureau to provide a client with an effective and prompt salary payment service, plus the same effective electronic-funds-transfer services that the debit-order clients receive. Integration to their other business systems can also be catered for.
Softy Comp prides themselves to be able to deliver these financial services and continuously strives to improve our service levels.

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Management

The Management of Softy Comp is actively involved in development projects and services.

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