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Authorization on the run.


Businesses generally require two authorization signatures on every cheque before a payment can be issued. This means if one signing officer is out of the office or out of the country, business payments can't be issued. TelPay has come up with a solution to the problem. TelPay's BusinessConnect is an e-payment tool that allows any business in Canada to not only pay any person, supplier, organization, or government department in Canada, but also offers them the flexibility to have those payments authorized remotely by the company's signing officers, regardless of where the signing officer is.

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Remote authorization works by first e-mailing details of the payments that need to be made to the signing officer, sent along with a unique password to that payment session. By sending the authorization password back, the signing officer has provided the equivalent of their signature. Authorization can be completed via e-mail, fax, or telephone from anywhere in the world.

According to Randy Bettens, TelPay's director of e-business payments, "Current customers rank substantial time savings as their number one priority and reason for using BusinessConnect. By making their payments electronically, they no longer have to sign cheques, stuff envelopes, pay postage and then perform a time consuming reconciliation of those cheques at the end of each month. Many clients have seen their time spent issuing payables cut in half."

For more information visit www.telpay.ca.

COPYRIGHT 2005 Society of Management Accountants of Canada
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

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Title Annotation:HIGH TECH
Publication:CMA Management
Article Type:Brief Article
Geographic Code:1CANA
Date:Mar 1, 2005
Words:232
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