We are one of the largest Post-dated cheques and documents processing companies taking care of our clients’ valuable documents: post-dated cheques (PDC) and executed loan documents.
PDC forms a major mode of repayment of instalments of any loan/ mortgage payments in India, where end customer prefers to issue cheques for the instalment amounts payable on future due dates. These instruments require being stored in a safe and effective manner given that it is a negotiable instrument and forms part of receivables management of our clients.
Document management involves managing documents related to loan/ mortgages/ credit card. This is very useful and cost effective in terms of space, administration and document handling for our clients, who are required to keep physical record either for complying with law or to meet specific business requirement. Certain documents need be retained to fulfill legal/ statutory requirements and obligations for the purpose of audits, inspections, filing of return, evidence, etc.
Given that PMC processes loans and credit cards, it was logical that our clients had to manage a huge number of PDCs towards repayment of loans and had to manage varied types of documents in relation to loans/ credit cards/ mortgages. In this scenario, PMC stepped in to undertake PDC and Document management, to maintain PDCs and Documents in a professional manner thereby enabling the Clients to focus on their core business processes so as to emerge successful in this competitive environment.
Today, PDC and Document management has grown to be a high transaction volume business. The PDC management has achieved 5.4 sigma level of perfection.
In PDC management, main activities involved are:
- Receipt of PDCs and doing 2nd data entry
- Validating 2nd data entry with the 1st data entry done at client’s end
- Storage of PDCs in fire proof vaults
- Retrieval of PDC and encoding
- Transmission of PDCs to client/ vendor for banking
Document Management involves:
- Indexing of documents such as applications, executed loan documents, invoices, post disbursal documents
- Storage of documents in vaults for a period mutually agreed with the clients
- Retrieval of documents for legal actions/ on end clients’ request
- Return of documents to client
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