Over the years there have been many enhancements both of a functional and technical nature to existing payroll systems. However, very little has changed for the payroll or financial administrator relative to the payment and reconciliation of the swathe of vital and necessary third party payments both of an employee benefit nature (Pensions, Medical Aid, Micro Loans etc) and of a statutory nature (SARS, UIF and Garnishee payments). The processes that surround these payments are inefficient, time consuming and expensive. FIHRST now provides an innovative and efficient alternative to your payments process and enables you to realise the following benefits... 

Reduced Administration Costs

The system can reduce reconciliation time in all organisations from days to hours freeing up personnel to perform other tasks and reducing the workload at an otherwise very busy period of the month.

Reduced Banking Costs

By cutting down on the number of cheque and EFT payments there will naturally be a reduction in the bank charges being incurred by the client. In many cases FIHRST can better the rate being paid by the client for the transfer of the employee’s nett pay into their bank accounts.

Garnishor Database

A database of thousands of garnishors continually maintained is available for the payment of garnishee orders, saving time and ensuring the payments are made to the correct banking account, eliminating fraud and the submission of remittance advices are sent to the correct person for the allocation of funds.

Garnishees are electronically extracted, matched and reconciled before being paid resulting in huge productivity gains

All garnishee orders can be reconciled and paid away to the vast database of garnishors throughout the country. Each order is accurately matched with the corresponding payment information, should the payment details be amended the employer is informed, however, need not make the amendments which are automatically carried out by FIHRST. Automatic generation of garnishee letters is part of the process.

Powerful analysis and reporting as well as controls

By being able to view data in a variety of different formats, the administration personnel can quickly and accurately pinpoint any potential discrepencies in the output and rectify them without having to plough through numerous printed copies and other documentation.

Communicate with third parties electronically

Comparisons between last months transactions sent to a third party and the current months transactions, optionally per third party may be carried out. The client may then furnish the reason for the discrepancy and an instruction file along with the schedule will be sent to the third party. This reduces the amount of queries between the payroll administrator and third party and ensures accuracy.

Rejections

Rejections are simply a matter of logging onto the Automated Interface web site and entering alternate banking details or requesting a refund, there is no delay in getting the monies paid over. Once the alternate details have been supplied, the transactions are processed without any manual intervention