JC Data Solutions, a provider of data management systems and services, has entered into an agreement with Primexx, a provider of crude petroleum, to provide automated clearing house deposit services for its disbursements to investors.
The software designed by JC Data Solutions for the oil and gas industry, will connect Primexx’s existing accounting system to their investor information to distribute payments, post investor statements to the web and do email notifications. Electronic funds transferIt is claimed to make disbursements to investors in safe and secure.
Cary Allen, CEO of JC Data solutions, said: Primexx recognized several key advantages of the automated clearing house generator including a consistent direct deposit date for all distribution on a monthly basis as well as significantly reducing the amount of paper and manpower for this process. It will save thousands of dollars in needless expenses.