Treasury Strategies Reveals Multi-Million Dollar Opportunity For Financial Institutions To Deploy Integrated Receivables
MOSINEE, Wis., Oct. 15, 2012 /PRNewswire/ – WAUSAU Financial Systems , a leading receivables processing solutions provider, and Treasury Strategies, Inc., a leading treasury consulting firm, today released an industry-first analysis of the business case for integrated receivables (IR) for corporations and financial institutions. The whitepaper, The Case for Integrated Receivables, reveals the market opportunity for IR could translate into a nearly three percent lift in gross treasury management fees, or millions of dollars for large regional banks and tens of millions of dollars for national banks, annually.
These findings arrive for an industry at a crossroads, as corporations increasingly are seeking solutions that can streamline receivables processing, but few treasury management banks have deployed IR solutions to capitalize on the need. Treasury Strategies warns that over the next few years banks risk placing themselves at a disadvantage in a highly competitive market if they fail to deploy IR to automate and aggregate payments from multiple sources for corporations.
Specifically, corporations have expressed the desire for IR applications, including consolidated reporting, automated posting and translation, payment processing, and invoice matching and re-association. This report marks the first time the average annual fees per component per client have been quantified for financial institutions considering bolstering IR activities.
“Although first mover banks are adopting IR, many have been struggling to understand the business case for marketing the service. This report solidifies the demand for IR among corporations, and identifies the opportunity for banks to increase adoption through certain must-have components like automated posting and invoice matching,” said Kathy Strasser, executive vice president of solution management for WAUSAU Financial Systems. “The benefits are undeniable, creating a huge opportunity for financial institutions to act now and drive greater revenue.”
WAUSAU’s IR solution, Receivables360(TM), offers a single interface to manage the comprehensive payment demands of corporations and financial institutions alike. The solution is ideal for any corporation processing consumer-to-business or business-to-business payments, such as utility companies, insurance companies, transportation companies, government entities and nonprofits. It increases cash flow, reduces capture time, improves the handling of exception items and monitors workflow in real time, all while automating, aggregating and accelerating the entire receivables cycle, providing an immediate impact on recovery and positive bottom-line results.
About WAUSAU Financial Systems
WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU’s remote deposit capture service, and industry consultants Celent and Aite have ranked WAUSAU’s remote capture functionality above all competitors. For information on WAUSAU’s solutions, please visit www.wausaufs.com.
About Treasury Strategies, Inc.
Treasury Strategies, Inc. is the leading Treasury consulting firm working with corporations and financial services providers. Our experience and thought leadership in treasury management, working capital management, liquidity and payments, combined with our comprehensive view of the market, rewards you with a unique perspective, unparalleled insights and actionable solutions. Visit www.TreasuryStrategies.com for more information.
SOURCE WAUSAU Financial Systems