Increases Transactional Value -- RIDS customers generate 60% more value-added revenue for every $1.00 of core revenue than non-RIDS customers.
REMOTE POSSIBILITIES VICOR RIDS supports a distributed workforce through remote and distributed capture solutions. Reduces Costs -- Labor accounts for 60% - 70% of the direct operating costs in a receivables operation. RIDS reduces operating labor and expenses through industry-leading automated data entry functions and highly flexible workflow processes. Remote Capture feeds into a central processing location where keying can be done or sent to Remote Keying sites such as another central site, a home office location, or a domestic or offshore data entry facility. Remote Keying allows banks to scan a document locally and have data entered remotely -- in either a domestic or offshore location -- in realtime. Improves Quality -- VICOR RIDS significantly reduces customer service costs by generating a higher level of precision with less than half the keying and encoding errors of competing platforms. Distributed Capture enables local capture of complex payment information at the client’s site -- including checks, full-page invoices, and envelopes. A thin client architecture and Web-based interface make installation simple, inexpensive, and secure.
SELECTABLE MODULES Multi-Bank Private Professional label gives financial institutions the capability to provide an outsourced receivables processing service to correspondent banks.
COMPETITIVE ADVANTAGE Consolidated Receivables captures and consolidates payments from paper and electronic systems and delivers the data to corporate customers in a single output stream. A 2006 Treasury Strategies benchmarking study of wholesale lockbox providers found clear differentiation between VICOR RIDS and other platforms. VICOR RIDS sites have nearly 70% lower per-item direct costs than other platforms Long-Term Archive provides an easy mechanism to index and store multiple forms of media and securely access the data over the Web for longer periods of time. On a per-item basis, VICOR RIDS sites achieved a gross margin more than eight times that of non-VICOR RIDS sites Client-Based Print shifts the professional printing option to the corporate practitioner, reducing printing, re-association, and mailing costs. Online Decisioning enables financial institutions to provide their corporate customers with the ability to manage payment exceptions online in order to speed resolution. Sites using VICOR RIDS reported throughput levels (on a per-item basis) 70% higher than other platforms Sites using VICOR RIDS had more than double the rate of keystroke productivity of non-VICOR sites
ADDED VALUE VICOR RIDS helps businesses and financial institutions save time and money, attract new customers, generate new revenue, and leverage existing technologies and systems. The system:
CONTACT US To find out more about how VICOR RIDS can help your organization reduce costs and increase efficiency, call 510-621-2000 or visit us at www.vicor.com .
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