Optimum SaaS Licensed - Money Transfer ERP Provider in Bahrain & GCC Countries

Optimum Money Transfer is an integrated system covering the complete documentary cycle of fund transfers between companies or individuals in different cities or countries through money transfer agencies like Money Gram, Western Union etc.

The system calculates commission earned by the exchange company and also commission which has to be paid to the transfer agency used. All transactions are posted to the built-in sub ledger which can then be posted to General Ledger in real-time.

Available on premise or on cloud
Online real-time posting, resulting in online real time financial reporting.
Bilingual capability: Arabic/English, you log into the system with the language of your choice.
Extensive MIS reporting (in both languages).
Multi-level access to the system and powerful central security control.

Functionalities

Funds Transfer

Customers need instantaneous and real time money transfers internationally. So, the system has to be ready with all the necessary data and set up to tackle these needs.

Money Transfer Module includes the fully-fledged functionality for transfer of customer funds instantly with complete security and controls.

Funds Transfer Functionalities:

Setup unlimited number of currencies
Setup transfer outlets
Setup conversion rates and commissions
Add your customer data in the database, with attachments of related documents
Money transfer through any transfer agency like Western Union or Money Gram
Post daily transactions to general ledger in real-time

Funds Disbursement

The timely disbursement of funds to the clients is the crucial other part of money transfer. The system has to be fast and reliable as the success of the entire transaction depends on the cash disbursements.

Money Transfer Module includes the functionality for receiving and disbursing the funds from customer.

Funds Disbursement Functionalities:

Setup unlimited number of currencies
Setup receiving outlets
Setup conversion rates and commissions
Add your customer data in the database with attachments of all related documents
Inquire transfers through any transfer agency like Western Union or Money Gram
Post daily transactions to general ledger in real-time

Internal Funds Transfer

Oftentimes, exchange companies need to transfer money between their own branches for various business reasons. Money Transfer Module includes the functionality for transferring funds between branches of the exchange company with ease and total control.

With its in built document workflow and security it is even easier to keep full control over transfers with limits and regulations.

Internal Funds Transfer Functionalities:

Setup unlimited number of currencies
Setup receiving outlets
Setup conversion rates and commissions
Add your customer data in the database
Receipt of the currency and the issuance of voucher
Inquire for recipient data in the database
Pay the amount in the other branch and issue voucher
Post daily transactions to general ledger in real-time

Financial Clearance

Many money transfer transactions involve various exchange companies and financial institutions from the remittance to the settlement stage. The funds need to be cleared between these traders at the end of each transaction cycle.

Money Transfer Module includes the functionality of clearing funds between the exchange company and transfer agencies.

Financial Clearance Functionalities:

Setup clearing charges
Exchange by the purchase value of the currency and calculating profit and loss
Send a note demanding transfer agencies in the case of the large payments
Wait for response before closing the account in case of large funds
Post accounting entries

Customer Services Management

Customer Services Management automates your entire customer services and related activities. Customer Services areas can be pre-defined in system and limited or full access can be provided to customers based on customer type or services used.

A comprehensive yet easy to use Customer Support Portal is also available as part of the system. Customer Services Module has built-in functionalities of e-mails and messaging which can be scheduled to be sent automatically to all or set of customers.