Client Profile.
Payment Processing Company, USA
Industry: Payment Processing
Objective.
Setting up a process of transferring data from all checks to a software/online web application within a stipulated time frame. This is to be followed with verifications of the SLF rejected by the OCR, Payee and the amounts in cash and studs.
The Challenges
- Emphasizing efficiency and keeping the cost low while offering improved quality as demanded by customers.
- Planning the batch of data entry experts, well versed with financials of a foreign country.
- Non unique fonts or font size issues where with both words and numerical.
- Verify SLF rejected by OCR, payees and amounts in cash as well as studs – simultaneously.
- Enter the data in the software in a given time frame, with zero errors.
Solution
Ongoing process of handling 150,000 checks per day and verifying SLF ejections, to deliver the project within stipulated timeframe.
Benefits
- Accurate check processing clubbed with online data entry streamlined the payment monitoring for multiple plans, divisions & organizations – as per client requirements.
- Final results were highly cost-effective and timely.
- Errors and inconsistencies in the entries were mitigated by 40%through multi-layered quality check process.
- The activity helped the client surge in deliverance of successful premium fundraising and membership projects and programs to our diverse clients.
Value Addition
Consistent upgrades in our systems, processes and skills, as reciprocation to the ever evolving technological demands, ensure that our data entry solutions are the ones with latest technological adoptions to assist our clients to stay competitive.
Technology / Software
After comprehending client requirements, it was concluded that a web based application, would be used for interpreting & entering data from checks.
Hi-Tech’s Solution
- Workflow was discussed, designed, developed and approved by the client, where online data entry operators would enter all the data from the checks to a software/web based application in a given time frame.
- Assigned 16 operators on the project who made entries of more than 150,000 checks daily.
- Project was complex involving high risks; hence to eliminate unwarranted dependencies and implementation errors, we established a smooth communication channel between key staff members to comprehend the existing data systems, as well as their current and future business requirements.
- The final entries were thoroughly checked for any inconsistencies or problems. Issues found were handed over to concerned operator for rectification.
- Online data entry operators performed enlisted task:
- Scan Line Fix – Verify the SLF rejected by the OCR system.
- Payee Verification – Verify the payee.
- Amount Entry – Enter the check amount.
- Date Entry – Enter the check date.
- Stub Entry – Enter the stub amount.
- Balancing – Cross verify the amounts in check and stubs.
