Press Releases
VICOR, Inc. Announces RIDS’ Remote Keying Module
Which Enables Processors to Reduce Manual Data Entry
Expenses
Contact: Mike Dignen
VICOR, Inc.
610-524-5950 or mdignen@vicor.com
RICHMOND, CA, June 1, 2004 – VICOR, Inc., the
leading provider of image-based lockbox and receivables
management solutions, today announced the availability
of RIDS’ Remote Keying module that allows lockbox
and remittance processors to load-level peak keying
volumes across production sites or shift manual keying
functions from production sites to more cost effective
locations.
Lockbox and remittance processors are continually challenged
to lower operating costs or efficiently load-level peak
volumes. Whether this means moving keying volume from
production sites to lower-cost remote locales (domestic
or offshore) or reducing site resources formerly required
to handle periodic or temporary volume spikes, RIDS’
Remote Keying module allows an operation to scan locally
and image key remotely. RIDS’ software facilities
permit a remote data entry operator to log in and data
enter designated work from any networked production
site and key work as if they are physically located
in that site.
After transactions are imaged at each production site,
RIDS’ business rules identify and move work to
a Remote Keying Queue which is then accessed by the
remote operator using a single ID and password. User
administration functions are simplified, meaning operators
are not forced to remember multiple logins. Remote Keying
operators see exactly what a local production site operator
would see and are presented data entry work based on
individual account deposit deadlines and customer specifications,
which allows processors to continue meeting customer
expectations. When work has been completed for a given
site, the operator uses the same ID and password to
switch to another site requiring data entry. Completed
work files then continue following the RIDS path towards
image and data publishing as if they were keyed in the
production site.
Included in the module are tools for operation managers
to monitor the work in each respective data entry queue,
to see where each work file is being processed, and
to manually override or pull back work that has been
assigned to remote keying. In addition, VICOR’s
Productivity and Time Management module has been enhanced
to collect and report on each remote data entry operator’s
keying and idle time.
“VICOR is committed to providing our customers
with innovative ways to effectively manage operations
and keep costs low,” said Bob Kirk, President
of VICOR. “RIDS’ Remote Keying module gives
our clients flexible options to stay in-house or outsource
data entry functions. This is yet another example of
VICOR’s commitment to leading edge technology
aimed at increasing RIDS’ value proposition for
our clients.”
About VICOR, Inc.
VICOR is the leader in image-based lockbox and receivables
management solutions for the retail, wholesale, and
scannables markets. The company’s flagship product,
RIDS (Receivables Information Delivery System), is the
first payment processing and cash management platform
to offer intra-day delivery of full color images and
receivables data via the Internet and other publishing
options. Currently installed in 22 sites, RIDS processed
over 100 million transactions in 2003, representing
more than $1.2 trillion. VICOR is headquartered in Richmond,
CA, and is privately held. For more information, call
510-621-2000 or visit www.vicor.com. VICOR will be exhibiting
at TAWPI 2004 in Chicago.
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