A well-established non-profit organization that sponsors programs to help students and families plan and pay for college.
The Client’s Headache
The client, on a busy day, receives 8,000 payments. Most transactions consist of “white mail” or non-standard, full-sized documents, or list payments with different formats. Their previous process required elaborate manual validation and data entry; for example, one-page list payments can take up to 20 minutes to process. Moreover, the accompanying checks are scanned separately, causing extra labor and broken links between the checks and the posted transactions. These deficiencies resulted in high labor, high error rate, a lack of control, and slow deposits.
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