Remittance Processing Solution for Utility Providers
Utility agencies of all sizes have similarities. In fact, we’ve seen a pressing need to reduce manual labor, more accurately manage data, and the desire to run a more cost-efficient operation. Whether you’re in the market for a handful of tweaks or an end-to-end solution, RT Lawrence has a scalable option to accommodate all your payment processing needs.
Our easy-to-use software solution was designed to handle the most simple to complex payments. In addition, we have streamlined handling of payments so utility agencies can finally bid farewell to manual processing. Our automated system, can:
- Handle checks without Stubs –Eliminate the need to manually identify payee information. Our system read checks payments and correlate it with your payee information and create a virtual stub.
- Electronically Check Payments – Online payments are riddled with missing and incorrect information. Our system can pre-check these payments/formats and identify payments with errors for quick resolution and generate virtual populated payee stubs.
- List Payments – Eliminate manually balancing and validating each line item payment/payee and automatically process check payments paid towards multiple accounts that is list-driven. Our system will read/process each line item, auto balance payments, and create virtual stubs for simpler reconciliation.
What we learned from our consultative approach to business is that agencies may spend an additional 3-4 hours per day trying to validate and process these exception payments. Although these exception payments may represent only 10% of your daily volume, these payments translate to increased manual labor, errors and potential delays in deposits.
Our solution will enable you to:
- Process payments in a mixed batch mode
- Flag/Stop Payments on the cancellation list
- Validate and cross check payee balances
- Incorporate special processing rules/hot files
- Identify money order/cashier check payees quickly – blocked check payments
If maximizing your investment and improving customer service is important to you, look no further. By partnering with RT Lawrence you can be rest-assured that an automated solution that suits the unique needs of your business will be carefully constructed and executed.