Byte Money, specialising in receipting and allocating funeral insurance policies
Byte Money – The profitability of a business entity is quite often determined by volume of goods and services traded and by extension of how well the money is receipted and saved. Recent research and statistics have indicated that about R2.5 billion is collected and receipted in cash for the funeral industry in South Africa using handwritten receipts and receipt books. Of the collected amounts, between 30% to 35% is lost due to fraud, theft or bad administration. In order to address this scenario, Byte money came on the scene.
Established in 2008, Byte money specialises in the receipting and allocation of funeral policies using a mobile point of sale terminal and a scalable pay your premium platform. Byte money range of products and services is divided into electronic collection of cash premiums, new member feature as well as service and support.
Electronic collection of cash premiums eliminates receipt books, improves cash handling accountability and provides a clear financial services board compliant receipt. This results in reduced theft and maladministration, allocating payments in a verifiable and live manner and generally freeing up valuable employee time.
The new member feature signs up members and takes the 1st premium in the field, captures current members quickly and accurately in the field and accurately track agent progress and commission. The advantages of these features are that there is improved image and reputation in the community, streamlining new member take on and improving vendor productivity in the field.
Service and support is provided by making available quality German thermal paper suited to the rural environment, providing continuous updates, improvements and refinements to all systems as well as servicing, repairing and replacing any of the point of sale terminals nationwide.
Byte money can be contacted on 0860002983.