We streamline your accounts receivables.
Another way that IDI helps shareholders and vendors to decrease transactional costs is in the area of accounts payable/receivable. The premise is straightforward: if you sell to 50 IDI shareholders, then you are collecting and reconciling a minimum of 600 cheques per year. The IDI office can reduce this to just 12 cheques annually, representing a significant reduction in your administrative costs!
IDI Central Pay is a streamlined service to vendors whereby you send the invoices to the shareholders, but IDI receives your aggregate monthly statement for all of our shareholders. We take care of the collecting, and remit the funds to you by the 20th of the month following, with complete back-up. So, no matter how many IDI shareholders you transact with, you are merely reconciling 12 cheques per year.
Participating in our Central Pay program allows our vendors to enrich their program for IDI shareholders by sharing the administrative savings with them by way of a standard payment discount, which is immediately passed to the shareholders by IDI – a true win-win situation!