Corcentric Announces Straight Through Processing with Their New Accounts Receivable Automation Solution
Service captures data from checks and remittance advice at a significantly lower cost.

MCLEAN, VA, November 12, 2010 /24-7PressRelease/ -- Corcentric, a leading provider of accounts receivable automation and helping companies reduce the costs associated with processing business-to-business transactions, today announced a new check imaging service to help automate the reconciliation process to complement their accounts payable automation solution. Data is digitally captured from checks and remittance advice at a cost that is 50% less than what others charge for the same service.

By implementing Corcentric's check imaging solution, companies are able to convert from a paper-intensive process to a more efficient electronic method providing straight through processing with their accounting systems. This solution reduces operating costs and streamlines the distribution of information; giving companies a competitive advantage by improving cash flow and operational efficiencies that allow them to make deposits available in a shorter period of time.

Corcentric translates scans of the checks and remittance advice and extracts the data using new and improved proprietary technologies, which further validates and crosschecks data to ensure accuracy. The information is then formatted and made available to be imported into the client's accounting system as part of the accounts receivable automation process.

"For companies that are manually reconciling payments, our solution will drastically reduce overhead costs and dramatically speed up cash allocation. If they're currently using a bank or service to perform the remittance data capture, they are paying significantly more than they should. We are able to reduce their costs by 50% for the same service," stated Dave Lindeen, Vice President of Corcentric.

Press Release Contact Information:

Jessica Barron
Corcentric
Product Marketing Manager
457 Haddonfield Road, Suite 220
Cherry Hill, New Jersey
United States 08002
Voice: 856-382-4736
Fax: 856-382-4786
Website: Visit Our Website