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Corporate Payments

> Overview of Remote Check Deposit

ImageScan’s payment-processing solutions are designed to meet the challenges of corporate payment systems.  The majority of corporate remittances and payments are still made by check, therefore, you need an efficient process to handle all the documents associated with the payment. As you are probably still dealing with mountains of paper, ImageScan’s RemitTrac® solution can help. The “ Check 21” legislation allows for the truncation of checks, and the creation of an image based “substitute-check.”  These substitute-checks must be accepted by the paying bank for payment and, in so doing, create an exceptional opportunity for you to reduce check processing costs and accelerate your cash flow. 

Whether you choose a bank to process payments or want to lower costs by doing it yourself, ImageScan’s  Corporate RemitTrac® can streamline the entire process while accommodating procedures and controls that you already have in place. 


Remote Check Deposit

Imagine a world in which you can capture payment information at a branch office, have it processed under stringent controls at expert processing centers and submitted directly to the clearing system or the paying bank for payment, saving much of your current payment processing costs.  This is now possible with Corporate RemitTrac®, which enables you to achieve these goals with paper-based payment documents. 

Benefits

We’ll help you:

  • Accelerate the availability of cash
  • Reduce processing costs
  • Reduce bank service charges
  • Extract all relevant data from remittance documents
  • Post information to financial and other information systems seamlessly
  • Make readily available all documents for subsequent analysis and research, quickly and cost effectively
  • Improve compliance with Sarbanes Oxley, GAAP and your own risk management policies

Features

  • Easy to use, intuitive document scanning process requiring little training
  • Fast presentation of highlighted fields so operators do not have to navigate forms
  • Enlarged images of the fields being entered are presented
  • Auto-fill of dates, zip code/city and application specific fields to eliminate keystrokes
  • “Hot keys” and programmable function keys fill data
  • Quality Assurance (double-key every nth document) tracks statistical errors
  • Intelligent Form Identification
  • Intelligent Character Recognition (ICR) for hand-print, machine-print or check-marks
  • Integrated business rules flag errors in real-time
  • Integrated workflow routes exceptions to supervisor while the operator continues
  • Image data entry that can be made remotely over the web
  • Tools that can redact certain data fields from view for security reasons
  • Multiple entry passes (different fields by different operators) for increased security and performance
  • Complete audit trail tracking transaction “touches” to meet regulatory compliance
  • Comprehensive production statistics and detailed reporting

Whether you are a large corporation or have a lot of check remittances and associated paper documents, contact us to see how we can custom-develop a solution just for you. If you would like further details on our solution before contacting us please see the solutions details page.

 

 

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