If your customers pay with paper checks, you probably have been thinking about the remittance process – and how to improve it – for a long time.
Your rules may require a clerk to photocopy, code and endorse each check, key the amounts into your accounting system, prepare a deposit slip, balance the account and deliver them to the bank at the end of the day. You also must ensure compliance with ever-changing regulations.
CPT Intelligent Technologies builds systems that follow your rules while spending less time and money.
How we automate remittance processing
We will develop software and hardware solutions that will:
- Open envelopes
- Scan the contents
- Gather and prepare information from checks
- Prepare the checks for deposit
- Alert an operator when one of your business rules is broken
- Route remittance images to an exception queue for supervisor review
- Apply remittances to a customer’s account
- Flag fraudulent checks from accounts known to pass bad checks
With technology that reads handwritten checks and documents, the system accurately handles a large majority of remittances, leaving only a small percentage that present problems to be handled by staff.
Return on investment with a CPT system is dramatic, with savings in labor and increases in accuracy usually paying for the new platform in less than a year even as you improve processing time.
CPT will customize a demonstration with your documents so you can see exactly how a CPT solution could be applied to your operation. Call (908) 284-0900 or send an email to Info@cptinfo.com for more information.