A company increases the efficiency and flexibility of its payment processing operations while replacing four legacy systems with Exela’s TMS & Document Digitization solution
Challenge
The customer sought to improve the efficiency, reliability, and flexibility of its payment processing operations. They were in need of a system capable of doing Image Cash Letter (ICL), as well as interfacing with their existing Electronic Data Interchange (EDI).
While processing volumes over the six-day week (Monday through Saturday) averaged 15,000 invoices per day, the new system would have to handle peak volumes of up to 50,000 payments and also be capable of absorbing 100% of the processing volume should one of the facilities go down during a disaster. The key challenge was to reduce business risk while also enhancing efficiency.
Solution
Exela implemented a single, integrated system for managing the capture, processing, research, and archival of payments and related documents. The system supports both electronic and paper transactions and was able to single-handedly replace four legacy systems, which reduced cost while meeting the customer’s key requirements.
Exela supplied the hardware component of the new payment processing system. Each processing location was outfitted with two advanced scanning units for high-speed, mixed document scanning. The scanner is capable of capturing and outputting images at a rate of up to 550 pages per minute at 200 dpi.
Benefits
- - Cost savings in its cash processing operations, even with the complexity of handling diverse check and skirt transactions
- - Improved operator productivity
- - Minimum 10% reduction in human resources as support for the new system has been transferred over to the client’s IT department
- - 2.5% increase in “match rate,” the automated matching of payments to customer accounts before forwarding to the host system
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