Tangent Systems Offers Arc Conversion of
Check Transactions
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Full Integration With Leading
ACH Vendor Means Speedy System Deployment
HOFFMAN ESTATES, Ill., March 3, 2003 -- Tangent Systems Inc., an established provider of high-speed
document and transaction processing software, is now offering
a release of its flagship DocuTran® II software that
provides ARC check truncation via a full integration with
the Remitworks suite from U.S. Dataworks (Amex: UDW.)
"This is truly a full integration, not a science project," said
Bruce Rennecker, vice president of Marketing for Tangent.
We implemented the functionality in a very repeatable way.
The time needed to add ARC truncation to an existing DocuTran
application is measured in days, not months."
Tangent's first installation of ARC truncation
is a pilot project at a Fortune 500 company that processes
in excess of 30 million payments per month. For the pilot
project, approximately seven percent of the accounts were
made eligible for truncation. When asked if there was concern
about the scalability up to the full customer volume Rennecker
replied "We're
not concerned at all. We're evaluating every item now for
possible truncation. Those accounts that are not part of
the pilot are simply marked as not eligible. As the number
of accounts increases, we'll just be putting more items in
the truncation pockets." The customer plans to run in
pilot mode for several months to gauge customer reaction
and acceptance. Even so, this small volume of work has doubled
the number of transaction placed on the ACH network.
How It Works
Account and transaction rules are developed by the organization
to determine which specific accounts are either eligible
or ineligible as well as specific transaction eligibility
rules (for example, the organization may decide that no multi
check transaction should be truncated.)
In the current implementation determination of eligibility
is done as a background process. After the items have been
captured, the process determines account and transaction
eligibility for each transaction. If the account and transaction
pass the eligibility tests, the associated check is sent
for examination to the MICRWorks product which is responsible
for determining check eligibility.
During the encode pass, those checks that were deemed eligible
are sent to non-deposit pockets. Cash letters are still produced
for those pockets as a hedge against failure of the ACH network,
that is, in the worst case, the checks could still be sent
to the bank.
After the work is balanced, DocuTran transmits the necessary
data to RemitWorks who confirms that the work has been correctly
received. RemitWorks then passes the data on to the ACH network.
About Tangent Systems
Tangent Systems Inc., headquartered in Hoffman Estates,
Ill., specializes in the development of software solutions
designed to process high-volume and unique or complex paper-based
transactions. Founded in 1984, Tangent is well known for
its proven and flexible DocuTran software, which is used
on more than 200 systems worldwide and has earned a reputation
for quick and reliable implementation. In addition to software,
the company also provides on-site training, application maintenance
support and software customization tools. For more information
on Tangent Systems Inc. or any of its solutions, call 847/882-3833
or visit www.tangent-systems.com.
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