Creditron Deploys Remittance Processing Solution to a Water and Sewer Department of a Midwest City
Wednesday, May 08, 2013
Creditron, a leading provider of remittance processing and receivables management solutions, today announced it has delivered its ItemAge remittance processing solution to the water and sewer department of a city in the Midwest United States.
Since deploying ItemAge, the department has improved its remittance processing efficiency, lowered its overall transaction processing costs, and improved funds availability through the use of Check 21.
The water and sewer department uses ItemAge to process about 18,000 mailed-in remittances per month. Most of the department’s remittances include a check and a stub with an optical character recognition (OCR) scan-line that includes the resident’s account number and the amount due. The city water and sewer department scans checks and remittances on a desktop Canon CR-190.
ItemAge eliminates the need for staff to manually pre-sort full-, partial- and under-payments before processing. And the solution’s courtesy and legal amount recognition (CAR/LAR) has significantly reduced the department’s manual keying. These features appealed to the department, which previously was “drowning” trying to keep up with its remittance processing. Additionally, the ItemAge archive allows staff to instantly retrieve images of processed transactions for inquiries.
ItemAge also enables the department to electronically deposit payments using Check 21, which has accelerated funds availability and eliminated the need for staff to transport checks to a bank branch.
Moreover, ItemAge automatically uploads remittance information to the city water and sewer department’s SunGard Public Sector accounting system – another key reason they selected Creditron as its remittance processing solutions provider. The fact that Creditron was deployed in other city water and sewer departments using SunGard’s accounting system was also a key selling point.
“Municipalities are under tremendous pressure to improve operations efficiency and accelerate cash flow,” said Creditron Founder and CEO Wally Vogel. “By replacing inefficient manual processing with an image-enabled remittance solution, this city water and sewer department not only is reducing its costs, it has the tools to better serve its constituents. It’s for these reasons that we are seeing stronger demand from municipalities of all sizes for automated payments processing solutions.”