US Dataworks Disrupts Traditional Lockbox and Remittance Processing with Expanded Partner Program The Addition of Highly Successful Resellers to the US Dataworks Partner Program Creates a New Business Model for the Replacement of Traditional Lockbox with Clearingworks Cloud Payment Processing Solutions
SUGAR LAND, Texas, Nov. 13, 2012 /PRNewswire/ -- US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in cloud payment processing solutions, takes aim at traditional lockbox and remittance processing solutions by expanding our network of influential resellers eager to bring the power and simplicity of Clearingworks to their customer base. The addition of four strategically selected resellers more than doubles our access to financial institutions and corporate billers in the northeast, mid-Atlantic, central and west regions and creates a powerful new channel for the replacement of aging and outdated remittance processing systems.
Building a Powerful Channel to Quickly Reach Thousands of Customers
The newly signed partners, ERJ Solutions, PMI Technologies, Quality Data Systems (QDS), and Technology Unlimited, Inc. (TUI), were selected based on their proven success in bringing the best payment processing solutions to their customers. When combined with our existing resellers, US Dataworks now has channel partners to reach thousands of financial institutions, government agencies and businesses.
Marc Palombo, Senior Vice President of Sales for US Dataworks stated, "The key to our success is through selectively developing like-minded partners who are focused on growing revenues in the payments processing marketplace. Clearingworks cloud lockbox and remittance processing solutions are the perfect fit. The ease of real-time processing and cloud delivery combined with simplicity of support yields a substantial recurring revenue stream that is a natural extension of our partners' business."
The Time is Right for Expansion
According to a 2012 Celent report on the State of Remote Deposit Capture, only 15% of the banks between $1billion and $50 billion in assets are currently offering remote or cloud based lockbox solutions. This leaves ample room for expansion by US Dataworks' channel partners. In addition, successful document imaging and check scanning resellers are looking for ways to build on the customer relationships they have nurtured for years. New cloud deliver models, like Clearingworks, provide the right opportunity for equipment resellers and business consultants to expand their services and build a valuable recurring revenue stream.
Introducing our New Partners
ERJ Solutions – Greater New York City Area
ERJ Solutions offers business software services, including solution recommendations and implementations.
Michael Gutlove stated, "Cloud-based solutions are the obvious direction all software is going. With ease of implementation, version currency and the reduction in hardware costs, the choice is simple. With Clearingworks open architecture we see a unique opportunity to build on a successful payments platform and use that to our advantage in the market."
PMI Technologies (Canon Reseller) – West Berlin, New Jersey
PMI Technologies specializes in document imaging in and information systems, with an extensive client base including financial institutions, universities, and government agencies, as well as 80% of the Fortune 500 in Pennsylvania, New Jersey, Delaware and New York.
Frank Dutton, principal at PMI Technologies, stated, "We have a large customer base of financial institutions and billers that we sell and service check scanners and other document imaging equipment. Our customers are always looking to reduce their operating cost while improving the remittance processing operations. In today's changing payments landscape, this is difficult to achieve using traditional remittance solutions. Clearingworks cloud lockbox solution combines robust functionality with easy implementation to create a compelling service offering. And the support for all electronic and paper remittances positions us for the future."
Technology Unlimited, Inc (TUI) (Canon Reseller) – Six Locations in California, Oregon and Washington
Technology Unlimited, Inc. (TUI), began as a maintenance and equipment provider for the Pacific Northwest financial services industry and has now expanded to the Western United States. Their product mix and vendor partnerships continue to adapt to the changing industry trends and technology developments.
Darrell Brush, President of TUI, stated, "US Dataworks has the partner approach we look for in our manufacturers and vendors. Their proven ability in the lockbox and payment processing world was a key factor in our decision to offer the Clearingworks solution. The cloud delivery model for lockbox is something we have not seen before, but we believe it is the way of the future."
Quality Data Systems (QDS) (Canon Reseller) – Powhatan, VA
Quality Data Systems (QDS) is a solutions oriented company that utilizes leading edge technologies to assist clients in solving their business problems. QDS focuses on the Atlantic states with leading edge technologies for the processing of coins, cash and checks.
Charles Zambito, principal at QDS, stated, "We have been approached by many different software manufacturers to offer solutions that complement our scanner sales. However, we never saw this as a real opportunity due to the complexity of the software. Clearingworks cloud delivery is different. The US Dataworks team takes a very straightforward approach to making the sale, implementation and support of lockbox or remote deposit capture simple. We look forward to extending our services to include the Clearingworks suite of solutions."
Successful Partner Program is a Key Growth Strategy
US Dataworks is building a strong channel partner program capable of rapidly getting the power of Clearingworks into the hands of businesses, government agencies and financial institutions. The payment processing world is changing and businesses that are stuck in a model that worked thirty years ago will find it difficult to compete. Clearingworks cloud payment processing solutions and open architecture provide the flexibility and scalability businesses are demanding to support future growth. Selling and delivering our cloud platform through an extended network of world class channel partners is a key element of our growth plans.
US Dataworks' Channel Partner Program is designed to attract a variety of partners in various geographic regions. Partners are evaluated based on the commitment to innovation, client service focus and business expertise. More information on the Channel Partner Program can be found at www.usdataworks.com/partners.
About US Dataworks
US Dataworks offers cloud computing on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools. US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies. Additional information about US Dataworks is available at www.usdataworks.com.
Certain statements made in this press release (other than the historical information contained herein) constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding our expectations relative to the Company's Channel Partner Program and Clearingworks Payments Platform. Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the failure of our new solution to perform as anticipated, our ability to provide long-term customer value and agility, our ability to protect our intellectual property, our position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to repay or refinance our debt, our ability to realize the anticipated benefits from our business initiatives, and other risks detailed from time to time in our SEC reports including our Annual Report on Form 10-K for the year ended March 31, 2012 filed with the SEC on July 13, 2012. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.
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