It came as a real bolt from the clear blue skies to everyone when the Prime Minister of India announced that Rs. 500/- and Rs.1,000 notes would cease to be legal tender.
The move is a very welcome step in the government’s efforts to root out black money and corruption. Companies and institutions of all sizes will do good to move over to a cashless system of payments at the earliest. Organizations like schools and colleges which collect large amounts of cash (and do not declare these) are the ones who will suffer the most.
We at BluSynergy offer a system of collection of funds (either one time or on a recurring basis) using a sophisticated platform that not only helps with the current situation but also reduces the amount of man power required to handle large volumes of money.
In addition, the reconciliation of funds becomes very easy using electronic means – amounts are deposited directly in the recipient’s bank account after deducting charges as applicable.
For further information on how we can help organizations with this unprecedented problem either visit www.blusynergy.in or email sales at blusynergy.in or call Arun at (080) 3090 5678.