DALLAS--()--eGistics, a leading provider of private cloud solutions that streamline payments business processes, today announced that a top 20 U.S. cash management bank will deploy the latest version of the eGistics distributed exceptions management application next month. The enhanced Client Decisioning Module (CDM) includes advanced transaction validation capabilities and new tools to help users resolve exception items.
“The eGistics Client Decisioning Module provides businesses with a best-in-class application for streamlining the resolution of payments exceptions to accelerate receivables posting and improve customer service”
Banks and other payment processors use CDM to provide their corporate clients with the ability to securely manage exception items online, the same day they are processed. CDM’s exceptions management engine groups items based on user-configurable rules and the decision status of each item. Corporate customers then securely log into CDM to accept, reject or hold exceptions, add or update information necessary to resolve exceptions, and annotate comments regarding actions taken. Customers use a single sign-on to manage exceptions captured across multiple lockbox sites. The CDM queues are “swept” at pre-defined times during the day so reviewed items can return to the payments processing workflow. CDM also supports multi-day queues for longer decision cycles.
The latest version of CDM includes significant workflow enhancements to increase user productivity in resolving exceptions. The user interface has been streamlined and a new auto-edit mode enables users to correct transactions in a spreadsheet-like view. CDM also features a number of new validation capabilities, including stop-file validation. Validation rules are managed through a new drag and drop configuration interface, enabling implementation teams to quickly configure new clients and lockboxes.
Also included in this release is a new data output module that produces data feeds in a number of configurable formats. These feeds can be used for automated accounts receivable posting, potentially eliminating manual keying and posting delays. The output module also can generate customized image transmission files for clients that want to load remittance data into in-house systems.
“The eGistics Client Decisioning Module provides businesses with a best-in-class application for streamlining the resolution of payments exceptions to accelerate receivables posting and improve customer service,” said eGistics Executive Vice President Gary Provo. “CDM already helps many of the nation’s largest payments processors grow fee-related revenues and strengthen client relationships. CDM’s enhanced capabilities will build on these benefits and further differentiate the lockbox services of financial institutions and other payments processors that use the application.”
Payments exceptions cost businesses more than $700 million a year, primarily through higher transaction processing costs and lost float, according to the U.S. Department of Commerce.
About eGistics, Inc.
eGistics is a leading provider of private cloud solutions that streamline payments business processes. The eGistics private cloud solution automates the capture, management and delivery of documents and data in a highly secure, highly scalable and compliant environment. Today, the eGistics private cloud solution supports paper and electronic transaction processes for many of the largest financial institutions and third-party processors in the U.S. To learn more, visit www.egisticsinc.com.
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