LAS VEGAS, Oct. 27, 2013 /PRNewswire/ -- WAUSAU Financial Systems Inc., a premier provider of payment and receivables processing solutions, announced it will introduce a cloud-based version of its Receivables360™ solution to corporations in early 2015. WAUSAU made the announcement at the Association For Financial Professionals' Annual Conference that began today, Oct. 27, in Las Vegas.
The cloud-hosted delivery model is an addition to WAUSAU's Receivables360 suite offered in these delivery models:
- Traditional In-House Capture and Processing, which delivers control of capture and processing, is customizable and scalable;
- Remote Deposit Capture with Deposit 24/7, no archive, which also offers control of capture;
- RDC Capture to Business Process Outsourcing, which provides control of capture and some processing control and customization;
- Satellite Payment Capture to Business Process Outsourcing that, to a degree, delivers variable costs and customization and also furnishes control of capture and scalability; and
- Full Outsourcing of Capture and Processing, which also is scalable to fit client needs.
For new customers and existing customers leveraging Receivables360, the seamless move to the cloud will allow them to break free from their existing IT infrastructure expenses, shift fixed capital costs to variable costs and scale as demand rises or falls, all without relinquishing control of their payment processing. The optional new delivery system will allow companies to move to a subscription-based payment model.
"We have been an innovator in electronic payments for more than a decade. As a new option, the cloud-based delivery model will enhance our customers' flexibility as it will augment several types of in-house, outsourced or hybrid deployments already available," said Gary Cawthorne, CEO, WAUSAU Financial Systems. "Small- to medium-sized companies are very interested in the cloud, especially if they process their in-house work, because it is more efficient, saves IT infrastructure and other costs, and enables their IT staffs to spend more time handling more critical issues."
Receivables360, considered by one respected business advisory firm as "the most comprehensive and advanced receivables solution," offers a single interface to manage the start-to-finish process for all payments, improves the ability to manage receivables and provides either a packaged solution or specific components.
It also increases cash flow, reduces capture time, improves the handling of exception items and monitors workflow in real time. It does this while automating, aggregating and accelerating the entire receivables cycle. This provides an immediate impact on recovery and positive bottom-line results. In addition, speeding up the receivables process enhances customer service.
For more information on WAUSAU Financial Systems, please visit www.wausaufs.com.
About WAUSAU Financial Systems
WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types 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 holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU's remote deposit capture service, and industry consultants Celent and Aite have ranked WAUSAU's remote capture functionality above all competitors.
SOURCE WAUSAU Financial Systems