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Maximizing the Return on ARC
in a post-Check 21 World
Remittance processors can realize savings of 37.9% of their operating
budget by using Clearingworks®
EXECUTIVE SUMMARY
US Dataworks, Inc. (www.usdataworks.com), a leading provider of transaction
solutions for payment processors, recently engaged Meta Software to conduct
simulation analyses to measure the benefits of electronic payment processing
on behalf of one of the nation’s three largest credit card processors
(hereinafter, “Processor”). The findings were derived from the actual ARC
operational benchmarks for Processor’s east coast operation center.
This study documents that remittance processors can realize savings of 37.9% of
their operating budget if they implement a solution that takes full advantage of
the capabilities of ARC and Check 21 applied in concert. In addition to lower
clearing fees and improved float, a joint ARC/Check 21 solution – the “Next Wave”
of ARC implementation, if you will – also generates substantial operational benefits.1
Additionally, processors that implement this type of solution can generate
savings through reduced equipment and staff requirements. These additional savings,
however, require a redefined workflow that eliminates the physical handling of a
payment transaction once it has been image captured either in mail opening or on
Pass 1. This new ARC/Check 21 workflow is made possible via end-to-end automation
through US Dataworks’ Clearingworks®, a decision engine that determines the most
effective method for customers to settle their paper check deposits.
The objective of the analysis was to quantify the financial and operational benefits
of different implementation approaches to enterprise-wide Accounts Receivable
Conversion (ARC) rollouts by applying US Dataworks’ Clearingworks® solution.
To view the Meta White Paper in it’s entirety, click here (2MB PDF).
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