Payment Software Implementation Profiles
Customer profiles and business challenges solved:
Accounts Payable:
EZPaySuite Proves Ideally Flexible for Company Forced into Blended Payment Scheme by Vendors
The Problem:
An ACOM customer was facing a policy decision: a number of its larger accounts were insisting that vendors begin paying their invoices by direct deposit.
The company's financial software could accommodate it, but to implement the new procedure meant that the company would in effect have to begin doing two payables runs instead of one, and remittance advice would still have to be printed and mailed as paper copies. The added costs and inefficiency of the process convinced the company to look for options, and its software provider recommended ACOM as the solution.
The Solution:
ACOM's EZPaySuite proved ideal for the company's new set of needs. Because it is capable of generating both MICR laser checks and electronic payments (ACH) from the same platform in a single check run, the externally imposed requirement turned out to be a major advantage for the company as well.
EZPaySuite also brought the capability to produce pay stubs in several ways: as printed copies, sent as email or fax directly from the software platform, and even through financial EDI (F-EDI).Not only is it all accomplished in a single payment run, but the processing activity is also faster and cleaner, with far less manual intervention.
Rather than using preprinted check stock, the checks are produced on blank security-check stock using a Xerox Laser Printer (MICR-enhanced by ACOM), with pay stubs generated on plain paper loaded into a second tray. No more wasted forms and post processing, far lower mail costs, virtually no more calls from vendors about payments delayed or lost in the mail.
Payroll:
Manufacturer Replaces Homegrown Payroll System with EZPaySuite, Reduces Staff Time More Than 80 Percent
The Problem:
Using a homegrown payroll solution, a major foundry company ran weekly check runs to pay its 1,000 employees, using preprinted multipart check forms, a line printer, a succession of post-processing devices (for bursting, decollating, and sorting), and finally, a signature machine. It took three employees two days a week to get the job done - more than 24 hours per month.
All of the checks were distributed manually, and some were couriered to outlying locations.
The Solution:
Today using EZPaySuite (EZPS), the company now runs payroll on a biweekly basis, and more than half of their employees opt for receiving direct deposit. Checks are generated from stored electronic check form templates. All of the signatures, company logos, graphics and MICR lines are maintained securely in the EZPS software (accessed by password).
When it's time to run a batch of checks, this secure information is automatically merged with their electronic check templates and the data from their financial/ERP system, and then completed checks are printed in one pass through their MICR laser printer. The checks are numbered as they are printed, and they (along with the printed pay stubs) are distributed as before. Now, only two employees perform the entire task in less than one day. They have also realized other savings on printing, equipment and maintenance.
Travel and Expenses:
EZPaySuite Direct Deposit Capability Enables Faster Reimbursements, Better Cash Management
The Problem:
With 200 representatives on the road and a sizeable number of executives and managers submitting expense accounts each month, an ACOM customer dealt with a sizeable reimbursement check run each month. It also had to deal with periodic discontent in the field, where reps often had to wait until they returned home to receive and cash their checks. Neither company nor employees were getting the benefit of the money.
The Solution:
With ACOM's EZPaySuite, the company converted that problem situation into an employee relations positive. EZPaySuite's ability to make direct deposits and to notify recipients by fax, secure email or on the web exactly when the money would hit their accounts not only stilled the discontent, but gave the far-flung rep organization a fresh appreciation of the company's concern for their well being. Might their sales efforts have reflected a change in attitude? We think so.
Claims:
Mid-South Firm Opts to Self-Insure Employees, Achieves Versatility, Performance and Security with EZPaySuite
The Problem:
A firm in the mid-south decided to self-insure after several disappointing experiences with health insurance providers. Obtaining a dedicated health insurance package for Third Party Providers and self-insurers, it began printing claims checks on multipart preprinted check stock using an impact printer.
According to the administrator, the process was clumsy, noisy, time consuming and hard to manage. Checks first had to be printed, then separated manually and taken to accounting to be run through check signing equipment. Then, they were taken back to the insurance unit for distribution or mailing.Moreover, the company was increasingly aware of the security risks in the use of preprinted check stock and that insurers were especially vulnerable targets for check fraud specialists.
The Solution:
The self-insurance software provider formed a business partnership with ACOM and immediately recommended that its customer's plan administrator look into EZPaySuite, ACOM's MICR laser check-processing solution.
Using sample forms and data from the company as models, ACOM created electronically stored check form templates and within a few weeks the new process was tested and in production.Checks are now generated on a Xerox Laser Printer (MICR-enhanced by ACOM), and security has been enhanced. All sensitive check face information -- logos, graphics, MICR lines and signatures -- is now stored on a removable secure USB drive that is plugged in for check runs and removed when runs are finished.
Further protection derives from their use of Check Fraud Alert, EZPaySuite's fraud intervention module, which generates a list of all the checks the company has issued and sends it to the bank for verification of checks that arrive for clearing. If someone presents a check that is not on the list, the check is not paid by the bank.Additionally, dramatic savings have resulted from reduced manual handling, elimination of costly preprinted forms, and by dispensing with post processing equipment and its maintenance.
The company is now cutting costs and speeding payments further by offering direct deposit payment to its contracted health care providers, using EZPaySuite's ACH and electronic remittance (pay stubs) capabilities.
Security and Fraud Prevention:
EZPaySuite Delivers Quick Implementation of Positive Pay Security and ACH Functionality
The Problem:
Company policy called for checks to be issued using the company's QAD MFG/PRO accounting and financial management software. However, MFG/PRO had no provisions either for positive pay or for electronic payments (ACH). (Positive pay is a check fraud intervention system, and ACH is the banking industry's direct deposit network, for making electronic payments -- often used by persons without immediate access to their postal mail, such as field sales persons.)
The IT department had two options: develop the software itself, or acquire it from outside the company. Internal development was out, since the department could not possibly make the implementation deadline with MFG/PRO.
The Solution:
ACOM provided both solutions (positive pay and electronic payments) through its EZPaySuite payment management solution. EZPaySuite has a Check Fraud Alert module for positive pay, which interfaces seamlessly with the QAD software. The Check Fraud Alert module creates a file of all the checks issued each day, and transmits the file to the bank, for automated monitoring against checks presented.
EZPaySuite's ACH module allows the company to electronically deposit their employees' expense reimbursements and payroll checks, and simultaneously notifies the "road warriors" that the money is in the bank.
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