Save during budget cuts
COVID-19 has interrupted business so strongly many are preparing for a recession. When a recession occurs, budget cuts are sure to follow. CourtFunds is here to help save your county money when court functions open again.
Forbes lists several ways to prepare for a post-coronavirus recession:
- Get a grip on financial numbers and data
- Build strong customer relationships and experiences
- Review processes and try to reduce costs
- Fast-track automation
Monitoring cash flow and citizen needs are extremely important. As mentioned in the previous blog post, checks cost between $4 and $20. Reconciling unclaimed checks is cost and time intensive. Also, mailing checks takes longer than necessary with today’s technology. 14.1 million adults do not have a bank account and do not have a way to cash checks when they receive one. Without a bank account, cashing a check can cost an additional $5. These are unnecessary costs to the payer and recipient. CourtFunds slashes those costs. Your county won’t have to pay employees to stuff envelopes or pay for postage anymore. Pay recipients remotely and immediately instead.
Disbursement options
CourtFunds offers streamlined electronic payments to eliminate labor and cost intensive paper checks, reduce the risk of fraud, and allow for immediate reconciliation. You create an account, determine the amount to be paid, and upload it to CourtFunds. The recipient then validates their account to receive funds and decide how they want to receive or use it. Funds can be used by these methods:
- CourtFunds debit card
- Transfer to a bank or PayPal account
- Transfer to a gift card
- Donate to charity
- Request a CourtFunds distributed paper check
Overall, CourtFunds saves your county money and time while building relationships. Recipients will love receiving funds faster and in easily accessible ways. CourtFunds is easy to incorporate into current payment workflows as well. Therefore, you won’t have to worry about budget cuts after implementing.
