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NextGen Receivables Case Study

Cabela's® World's Foremost Bank Relies on NextGen Receivables for Traditional and Electronic Lockbox

Cabela's is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping, and related outdoor merchandise. Since the company's founding in 1961, Cabela's® has grown to become one of the most well-known outdoor recreation brands in the world and has long been recognized as the World's Foremost Outfitter®. Cabela's World's Foremost Bank offers and services the Cabela's CLUB Visa card.  

The Problem

Cabela's CLUB Visa was adding many new members in support of new Cabela's store locations. The existing in-house lockbox system was unable to keep up with the volume and the flexibility required for processing both check payments, online payments, and in-store payments. The time required to process payments was increasing, putting bank deposit deadlines at risk. In addition, the payment processing operators were always complaining about the quirks in the system.

The World's Foremost Bank (WFB) faced a choice of investing in customizing the old technology that they had or moving to a new way to process that allows for easy growth and expansion. The choice was clear.

The Solution

After reviewing the options carefully, Cabela's WFB selected the Clearingworks - NextGen Lockbox delivered in the private cloud. NextGen Receivables had the flexibility needed to keep pace with the rapidly expanding retailer and growing number of CLUB card members. 

Other key decision factors:

  • Simple subscription based pricing with no upfront license fees
  • Ability to configure the lockbox service to meet specific processing requirements
  • Substantial reduction in the total time required to process payments
  • No expensive infrastructure to buy-everything is in the cloud
  • Flexibility to process mailed in and online payments using electronic lockbox
  • Partner approach of US Dataworks to streamline implementation and on-boarding

The Results

After implementing the NextGen Receivables, processing times substantially decreased and the payment processing operators expressed a greater satisfaction in their job. The payment processing schedule was more predictable and Cabela's WFB was consistently able to meet bank deposit deadlines with ease.

As the volumes continue to grow over time, Cabela's continues to pay a predictable subscription fee for the NextGen Lockbox service. 

In addition, the NextGen Receivables solution was extended to support the collection of in-store payments received Cabela's retail locations. This is a feature Cabela's customers had been asking for, but the previous remittance system was unable to accommodate. Clearingworks NextGen architecture made is easy to add in-store payments to the existing lockbox service. All Cabela's locations are now able to offer their in-store payment service.