Command Alkon is set for general release of Payments, a cloud-native solution augmenting dispatch and scale ticketing systems for ready mixed, aggregate and asphalt producers. Initially available to Dispatch users, the new solution leverages groundbreaking technologies from B2B payment processing platforms and paves the way for a more efficient and streamlined user experience.
Payments in Command Cloud is powered by Ohio-based Fractal’s EasyPay technology. The solution includes robust encryption and security protocols to ensure a safe environment for processing and transmitting sensitive information, plus advanced fraud protection to mitigate financial losses associated with unauthorized transactions and disputes, thereby bolstering customer trust.
“Our embedded technology for cloud-native payment solutions represents a significant leap forward, enabling our customers to enjoy faster transactions, enhanced security, and real-time insights,” says Command Alkon Chief Product Officer Ranjeev Teelock. “This advancement not only streamlines operations but also empowers businesses to adapt swiftly to market demands. We are excited Command Alkon embeds automated payment processes in Cloud suite Walbec Group’s Precision Concrete serves Wisconsin’s Door County. to lead the way in transforming financial interactions within our industry, ensuring customers can focus on what they do best.”
The new platform positions heavy building materials producers to benefit from the rapid collection of payments, as modern on-the-go payment options facilitate quicker transactions with customers. Increasing transaction speed not only enhances customer satisfaction but also leads to improved cash flow and a reduction in receivable balances, allowing producers to reinvest funds back into their concrete, aggregate and asphalt operations more swiftly.
Automated payments deliver real-time insights and comparative analyses that equip Command Cloud users to monitor transaction trends effectively and make informed decisions regarding their payment strategies. Payments in Command Cloud will enable heavy building materials producers to secure payment methods upfront, offering customers the flexibility to finalize purchases or adjust amounts before charges are settled.
This will enhance the customer experience by providing more control over transactions and streamlining the payment process. Payments in Command Cloud turns on seamless payment acceptance including:
• Full migration to the cloud for scalable access and performance;
• Enhanced reporting tools with mandatory data fields and custom identifiers;
• Secure login system with two-factor authentication company-wide;
• User hierarchy controls to manage staff roles and permissions; and,
• Customer-centric upgrades like faster refunds and seamless onboarding.
One early Command Cloud user adopting the technology is Wisconsin-based Walbec Group. Under its prior payments processing method, the ready mixed concrete, aggregate and asphalt producer encountered limited visibility in reporting and analytics; complex user access management; manual reconciliation and refund handling; inconsistent processing times; and exposure to fraud risk.
By contrast, Walbec credits Payments in Command Cloud with:
• Tripling transaction speed, allowing for next-day processing;
• Improving user satisfaction, owing to streamlined processes and reliable tools;
• Establishing strong financial controls and fraud protection;
• Cost savings and better planning attributable to consistent rates and comprehensive reporting; and,
• Reduced risk and higher profitability through automation and standardization.
Citing JPMorgan estimates of recent years, Fractal notes how more than 40 percent of business-to-business payments—upward of $12 trillion—are in paper checks. Closer to construction, the firm calculates nearly $100 billion annually in overhead caused by slow contract payment cycles. “We can significantly lower that figure if the industry starts using faster and more reliable card processing and pay-by-bank options, especially if those systems work smoothly with the software most construction companies are already using,” Fractal officials observe.