[This is just one of my series of posts from the NACHA Payments 2008 conference in Las Vegas.]
eGistics – Scalable, Flexible Hosted Document Management [NACHA Payments 2008]
I had an opportunity to speak with Bob Lund, CEO of eGistics,
and discuss the company's transition from a payments-centric archive to
a more holistic document-centric model, encompassing not just images of
check payments but the accompanying remittance and correspondence, as
well as other key business documents, thereby enabling its financial
institution and payment processing vendor customers to better serve the
needs of billers and retailers.
Through its hosted business
model, eGistics provides a scalable, secure, redundant document image
archive to support payments applications such as retail and wholesale
receivables processing, check processing/Check 21,medical payments
processing (EOBs) and records management, and loan processing and
management. Because it is a hosted solution, customers do not need to
make a capital investment and simply pay a one-time fee to load each
image. Subsequent viewing of the images is free, thus customers can
predict their archive costs based on transaction volume rather than
usage of archived images.
I was particularly impressed with
eGistics workflow and business rules capability. Customers can define
escalation procedures for the timely review and resolution of exception
items. For example, a brokerage that receives a payment a their lockbox
with a letter requiring exception handling can provide email addresses
for employees that should be alerted with a link to the item for
review. And if the initial contact does not respond, a second employee
will be contacted. Similarly, if the deadline for resolution of a
particular item is approaching, additional employees may be contacted.
eGistics is in partnership with ChoicePay (more on their latest offerings here) and US Dataworks,
as well as other payment firms and many of the top financial
institutions. The company has already gained traction within the
healthcare industry
and is well positioned to continue to serve the growing needs of that
vertical.
>> Return to index of my posts from NACHA Payments 2008
