Healthcare Technology Featured Article

March 12, 2012

ProfitStars creates better B2C relationships with BusinessManager

Jack Henry & Associates, Inc. recently announced that its ProfitStars division has unveiled BusinessManager, a program that allows healthcare providers and medical service providers to take cash from known financial institutions in exchange for their account receivables.

Jack Henry & Associates is a leading provider of technology solutions and payment processing services for the financial services industry.

BusinessManager is a web-based financing solution for small businesses, and enables banks to develop lasting, positive and profitable relationships with their respective customers. Powered by the banking, IT and business development experts at ProfitStars, BusinessManager matches each bank client with a sales and marketing professional.

The program provides a way to bank small businesses more profitably, offer a unique combination of funding and receivables management benefits and control the risks associated with funding accounts receivable. Over 200 banks and approximately 1,000 merchants on the platform currently use the system.

"Many financial institutions are more comfortable supporting accounts receivable financing for larger hospitals and physician practices, leaving other entrepreneurial-like healthcare and medical service providers vastly underserved,” ProfitStars president David Foss said in a recent press release. “As Heritage Bank is demonstrating, BusinessManager can help fill that void by accurately assisting creditworthy customers with the management and funding of accounts receivable financing while generating recurring fee income for the institution."

Jack Henry Banking, a division of Jack Henry & Associates, Inc., also announced that five mid-tier banks – banks with $1 billion to $20 billion in assets – selected its SilverLake core processing system to provide enterprise-wide automation over an eight-month period. All five institutions replace existing legacy systems given by other vendors. Four of the banks will be operating in an outsourced environment and one will install the system in-house.

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