Reduce your costs, improve your cash allocation
Visual Remittance and Payments Application (VRPA+) is a flexible and scalable system that processes accounts receivables for retail, wholesale and lockbox operations.
It’s able to manage over one million check and remittance items per day and can be enhanced and extended with a range of optional features to meet your business requirements.
VRPA+ has enabled a large number of companies and industries across the world to automate their remittance processing and reduce the labor required to capture, correct, balance and process checks and other payments.
Key features
-
Capture can be carried out using a variety of specialized scanners and devices, including Burroughs, Digital Check, Canon, Kodak and Fujitsu.
-
Items are deposited electronically using check conversion such as Accounts Receivable Conversion, Back Office Conversion and Check 21 Image Exchange.
-
Uses intelligent character recognition to improve automatic data extraction from structured forms such as remittances or semi-structured invoices.
-
Exception items are held in a suspense module for analysis and resolution by skilled operators, meaning exceptions don’t hold up payments.
-
Work is archived for access by authorized users, internal operators or external, lockbox clients.
Business benefits
-
Automates your remittance processing and improves workflow, efficiency and accuracy.
-
Reduces the labor required to capture, correct, balance and process checks.
-
Remote capture from branches or remote offices can be consolidated with capture at the main office to expand your geographic reach.
-
Reduces manual errors, processing times and operating costs.
-
Items are deposited electronically, which extends the deposit windows and minimizes bank fees and float.