New Check Encoding Solution Benefits Forms Processing Applications

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DocuTran® AutoEncode Provides Full Accounting, Faster Processing of Checks Received

HOFFMAN ESTATES, IL, May 18, 2000 -- Tangent Systems Inc. today announced the availability of a check encoding solution for forms processing applications that improves accuracy, provides more financial control, enhances productivity and eases returned-check research.

The new DocuTran AutoEncode, based on Tangent’s DocuTran II solution, automatically encodes and sorts checks after they have gone through forms processing applications such as those involving tax returns, wholesale payments and mutual funds. DocuTran AutoEncode – which has already been successfully implemented at two locations – will be discussed at the "Exception and White Mail Processing in an Image Environment" session at TAWPI/Work Process 2000, July 16-19 in Baltimore.

According to Bruce Rennecker, Tangent Systems vice president of sales and marketing, the solution "closes the loop" in forms processing systems by accounting for all checks received. DocuTran AutoEncode:

• improves accuracy, because each check is automatically encoded based on information entered previously in the forms processing or host application. This feature eliminates operator errors that occur in manual check encoding. Reconciliation time is dramatically reduced.

• provides more financial control, by accounting for each check and identifying any missing or extra checks, thereby preventing lost checks.

• enhances productivity by automating the encoding process. This feature can save organizations thousands of hours spent manually encoding checks.

• facilitates research of each check through a complete audit trail, which can be printed on the checks and returned to the host to be incorporated into the final data record.

• supports full check transit sorting for better funds availability and lower deposit costs.

• allows users to make bank deposits sooner through faster encoding.

How AutoEncode Works

DocuTran AutoEncode uses the same technology as Tangent’s proven and reliable DocuTran II turnkey transaction and document processing solution. It runs on all major transports, including BancTec, IBM, NCR, Panini and Unisys.

The solution takes ASCII files containing the Magnetic Ink Character Recognition (MICR) data from a batch of checks with their associated dollar values and uses that information to automatically encode the check. The system positively identifies and matches each check to the file data and encodes the check with the correct amount. DocuTran AutoEncode then generates an acknowledgment file indicating the status of the check and returns that file to the host application.

Tangent Systems can also provide courtesy and legal amount recognition, CAR/LAR, and amount entry software to expedite check processing.

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 has been used on hundreds of 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.