Lake St. Louis, MO (PRWEB) April 3, 2007
Diversified Check Solutions, a leading provider of end-to-end, Check 21-compliant processing systems, announces the launch of the ACHeck21™ product suite, designed for any organization -- large and small -- seeking to quickly and accurately convert paper checks into digital financial instruments and incorporate that process into its accounting system.
ACHeck21™ represents "the first true end-to-end solution" in financial services technology industry. The technology is extremely versatile, allowing customers to easily verify discrepancies between checks and stubs, update accounts receivable systems, manage returns, archive checks and data, and mine the data captured. Additionally, the ACHeck21™ graphical user interface (GUI), is extremely easy to use, eliminating the need for organizations to train staff on a new complicated system.
"Existing solutions in the marketplace address only portions of the Check 21 process," said Sam Ackley, managing partner of Diversified Check Solutions.
"At Diversified, we have developed solutions that manage every step of the process -- from accepting and scanning checks to converting them into digital financial instruments to making bank deposits to integrating all of that into an accounting system," Ackley said. "Customers will use our technology to gain access to their funds more rapidly, plus they will have more tools for managing and maximizing the efficiency of their accounting systems."
ACHeck21 is ideal for banks, credit unions, merchants, utilities, local governments, non-profit agencies and small businesses -- anyone who accepts checks for payment. With ACHeck21 technology -- fully compliant with the Fed's Check 21 regulations -- these organizations can create digital files for automatic transfer into their bank account.
Large Corporations: A large organization that accepts thousands of checks daily typically has dedicated employees responsible for bringing checks to the bank. ACHeck21™ would allow the corporation to either reduce overhead or shift the employees to higher-level work. ACheck21™ can benefit large corporations by allowing them to consolidate administrative functions across a broad geographic region. A corporation can accept and scan checks in branch locations and combine those files at a centralized location for processing with one bank. The technology allows companies to centralize records and process all incoming and outgoing payments with one core administrative team.
Small Businesses: Many small organizations typically have a small administrative department, often meaning that incoming checks are not deposited on the day they are received. At most small businesses, a series of steps must be taken before a check is deposited and cashed at the bank. First, an assistant must input the name and amount from the check into accounting software, as well as the serial number of the check. Then the checks need to be manually taken to the bank, where deposit slips must be filled out and where the assistant will likely have to wait in line. For this reason, checks are usually cashed at most once a week. An end-to-end ACHeck21™ system dramatically speeds up this process. The Admin Assistant runs each check through a scanner, which uses handwriting recognition to input the check amount into the software directly. The system then displays the digital image of the check alongside the amount entered into the software, allowing for extremely rapid confirmation that the appropriate amount has been entered.
Governments: The technology is extremely well suited for government integration. Many branches of the government receive thousands of checks daily, including water municipalities, judicial systems, and state and federal agencies. These solutions would allow them to cut down on overhead, as well as turn payments around substantially quicker. Historically, the administration of the municipalities has challenges in collecting, accounting for and depositing checks from these many sources. ACHeck21can capture checks wherever they are taken, transmit them electronically, post them to the right account, deposit them and then create a searchable archive for reference later - all electronically and managed from a central location.
Non-Profits: ACHeck21 allows the creation of a virtual stub. This feature offers non-profits that take donations or tithings to capture the check only and use the information from the check to create a relationship between the donor and the non-profit's bookkeeping system. All future checks by a donor are automatically credited to the donor's giving record.
The ACHeck21 product suite includes:
ACHeck21 Premiere: The company's most robust offering. Premiere is a workflow-driven, multi-pass client, distributive capture, distributive workflow solution, which utilizes the company's web services and features website browser, AR output, reporting & archiving. The product generates the ACH & x9.37 file format, includes seamless distributive n-tier architecture. Disaster recovery archiving features are also available.
ACHeck21 Express: A compact version of Premiere. Express is a workflow-driven, single-pass, distributive capture, distributive workflow solution which utilizes our web services and features website browser, AR output & reporting. Creates ACH & x9.37 file format, includes seamless distributive n-tier architecture.
ACHeck21 Gateway: The company's basic offering. Gateway is intended for online financial service featuring accessibility through the company's web services portal, website browser, ACH & Check21 and supports a wide variety of input mechanisms.
ACHeck21 Remit: Remit is a workflow-driven, multi-pass client, distributive capture and distributive workflow solution for in-house financial services without web services, website, ACH or Check21 capabilities.
About Diversified Check Solutions LLC
Headquartered in St. Louis, Mo., Diversified Check Solutions LLC is a leading provider of financial services technology solutions. The Diversified knows check processing. We have made it our mission to create, deliver and support quality financial software solutions that provide our customers with all-encompassing tools for success. ACHeck21™ is our masterpiece -- a comprehensive and scalable end-to-end software solution that follows an intelligent business workflow. For more information about Diversified Check Solutions, please visit our Web site at http://www.diversifiedchecksolutions.com.