Press Release
VICOR, Inc. Announces its Distributed Capture Solution
in Receivables Management
Distributed Framework Enables Fast and Simple
Implementation, Extends RIDS Processing and Workflow
Tools to Remote Sites and Corporate Clients
Contact: Bob Murphy
VICOR, Inc.
510-621-2047
RICHMOND, CA, July 24, 2005 – VICOR, Inc., a
leading provider of technology products for the payments
industry, today announced a distributed receivables
transaction capture solution designed to image corporate
payments close the source of origination in order to
streamline receivables processing and management. The
new VICOR Distributed Capture product will not only
deliver many of the robust, reliable features customers
have come to expect from VICOR’s flagship RIDS
(Receivables Information Delivery System) platform,
it also brings a dimension that is sometimes lost in
the emerging Check 21 world – simplicity.
VICOR Distributed Capture will be showcased at the
company’s booth (No. 614) at The Association for
Work Process Improvement conference in Baltimore, July
24-27. VICOR Distributed Capture is the first product
offering within VICOR Everywhere, a strategic initiative
to expand and leverage VICOR’s leading industry
position into new markets.
“VICOR Distributed Capture was strategically
designed for the Check 21 age by extending VICOR’s
well established image capture technology beyond traditional
lockbox processing,” said VICOR President Bob
Kirk. “With VICOR Distributed Capture, banks and
their depositors can feed enterprise archives, image
exchange networks, substitute check printing systems,
and check truncation solutions – all while ensuring
image usability.”
VICOR entered the receivables processing and management
space seven years ago with the introduction of RIDS,
which delivered first-of-its kind features and functionality.
The new capture product broadens VICOR’s distributed
solutions portfolio by offering extended receivables
management capabilities in corporate and low-volume
environments.
VICOR Distributed Capture is designed for standalone
implementation, in any operations setting, alongside
any legacy solution, or as a fully integrated component
of the RIDS platform.
With its minimal hardware and network connectivity
requirements, small footprint, agility and distributed
framework, VICOR Distributed Capture is expected to
appeal to the growing number of banks and corporate
depositors looking to capture images of checks at the
point of presentment, to accelerate posting, improve
float, and control expenses. Check images captured remotely
can be sent to a centralized processing site for further
processing.
“As our strength in the payments market grows,
VICOR remains committed to offering customers unsurpassed
quality and innovation with its distributed processing
portfolio,” commented Mike Dignen, senior vice
president, national account management, at VICOR. “In
the back-office or at a customer location, VICOR Distributed
Capture integrates multiple functions that drive more
efficient and effective receivables management.”
About VICOR, Inc.
VICOR is a leading provider of technology solutions
for the payments industry. The company’s flagship
product, RIDS (Receivables Information Delivery System),
is the first payment processing and cash management
platform to offer full color images and intra-day delivery
of receivables information via the Internet and other
publishing options. Currently installed in 24 sites,
RIDS processed over 180 million transactions in 2004,
representing more than $1.1 trillion. VICOR is headquartered
in Richmond, CA, and is privately held. For more information,
contact 510-621-2000 or visit our Web site at www.vicor.com.
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