With its newest release of it’s Remote Deposit Capture (RDC) solution, WAUSAU Financial Systems’ continues to build on its recognized industry leadership position Processing for over 45% of the industry’s retail and wholesale payment processors, WAUSAU’s leadership and rich history in the remittance market sets WAUSAU’s Remote Corporate Capture (RCC) solution apart from its competitors.
WAUSAU was previously named “best of breed” among Remote Corporate Capture solutions, reviewed by Boston-based Celent in the respected analyst firm’s Remote Deposit Capture Vendors: Crossing the Chasm report. Based on its advanced technology and breadth of features categories, WAUSAU was designated the overall performance leader.
With this latest release of WebDDL, WAUSAU once again continues to build upon its leadership capabilities, specifically on the remittance processing side. In a recent vendor evaluation conducted by research firm Aite Group, WAUSAU’s RCC solution was awarded Best Overall Solution for Large and Mid-Sized Banks and also ranked best-in-class for Most Advanced Integrated Remittance and Deposit Capabilities and Training Tools.
Christine Barry, Aite Group Research Director for Wholesale Banking, comments in her Evaluating the Vendors of Remote Deposit: Differentiate, or Step Aside report, “WAUSAU’s WebDDL solution has remittance processing capabilities for both retail and wholesale markets. Its features, coupled with the solution’s advanced remittance capabilities, serve as a real differentiator for WAUSAU, and have positioned the solution a step ahead of its competitors who are just starting to add basic remittance capabilities.”
The current release of the web-based application allows a user to integrate to WAUSAU’s industry-leading ImageRPS retail lockbox solution, its integraPAY® wholesale lockbox solution or any third party remittance processing solution. It can also act as a stand-alone remittance solution that does not require a back office remittance operation to perform successfully, offering an additional option for customers who may process smaller volumes on a daily basis.
The WebDDL offering uses Optical Character Recognition (OCR) technology that supports multiple fonts to read and parse scan lines to perform field validation. The application also features image-based setup that defines fields and scan lines, allowing for a quick and simple remittance document setup process that does not require custom programming. And while most RDC solutions on the market provide a standard Comma Separated Values (CSV) file for importing information into Accounts Receivable (AR) software packages, WebDDL 3.2 allows users to define AR files specific to each individual corporate customer that provides them with only the information they’ve requested, and again, does not require them to do any custom programming.
WAUSAU’s Remote Corporate Capture boasts a scalable architecture that is easy to deploy to meet market demands. The strength of WAUSAU’s holistic Remote Corporate Capture vision and integrated platform provides the ability to offer solutions to a wide breadth of markets, including customer deposits, retail and business-to-business payments and “white label” correspondent bank services.
WAUSAU has also enhanced its Remote Corporate Capture option for the small business segment, bundling its offering in an affordable solution package complete with installation wizards, web-based training, a comprehensive scanner deployment and maintenance program and integration to popular small business accounting software packages such as QuickBooks®. WAUSAU has integrated directly to the QuickBooks® API to allow a corporate customer to create their deposit and update QuickBooks® all within WebDDL, reducing the number of steps required to update their account receivables.
Although WAUSAU introduced its web-based training almost two years ago, the functionality of this feature continues to remain unique when compared to other RDC applications. Ms. Barry recognizes this advanced functionality in her report, writing, “While other vendors claim to offer online training, WAUSAU is the only vendor to offer a high level of training from within its application: Users of the online training module have the option of choosing between a simulation mode, which focuses on specific areas of training, or a demonstration mode, which walks users through the entire process.”
“For example,” Barry continues, “users can watch a short video on how to change a scanner cartridge or how to set security setting and product configurations. Client references participating in this study raved about this feature, and labeled it as a huge cost saver eliminating the hours of time once spent answering basic customer questions. Customers can now help themselves.”
Additional enhancements have been added to the latest release to further drive down the overall cost of implementing and supporting a corporate customer. These enhancements include a simplified wizard-based process to set up a new corporate location and an integrated tool to validate that configuration of the corporate PC meets the minimum requirements of the RDC solution and scanner.
“Our latest Remote Corporate Capture release acknowledges the important role our customers play in helping guide the direction of our solutions,” said Steve Buchberger, Senior Vice President, Solution Management for WAUSAU. “We are very aware of the challenges and demands put on our customers to react quickly to business opportunities in the market. Our objective is to provide our customers leading capabilities to help them win more corporate customers, and to make the deployment of the product as efficient and effective as possible to support the large scale deployment of seats. It’s not just the functionality of our solutions that sets WAUSAU apart; it’s also our integrated, end-to-end, enterprise story that is both comprehensive and unmatched.”
WAUSAU’s web-based solution enables financial institutions to speed the implementation of Remote Corporate Capture with lower upfront investments, increased performance and reduced deployment costs. WAUSAU offers both an in-house and ASP offering.
About WAUSAU Financial Systems
WAUSAU is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU’s innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at www.wausaufs.com.