Billerica, MA, September 10, 2014 – Orbograph, a premier supplier of recognition software for U.S. check and lockbox processing markets as well as electronic/paper automation solutions in healthcare revenue cycle management, announced today the introduction of the 2014 Check Processing Innovations Research survey in conjunction with financial industry trailblazer Vijay Balakrishnan.
Mr. Balakrishnan, President of StratEx, LLC, former Vice President of Strategic Marketing at Metavante Corporation, Executive Vice President of Alogent and industry innovator of teller image capture, deposit automation and remote deposit capture, will collaborate with Orbograph to address the remaining challenges which large financial institutions and community banks are facing with diverging capture platforms.
The independent survey designed by Mr. Balakrishnan, is intended to identify technology limitations which are holding back the final steps of check processing and clearing system transformation. Additionally, the survey will gather feedback on innovations in recognition technologies which could lead to new products and cost savings for the industry. Objectives of the survey will be to identify the following:
- Top three challenges of teller and branch image capture
- Desired enhancements for RDC and mobile deposit
- Adoption plans and innovations which support self service devices
- Desired automation levels in check processing vs. actual experiences
- Potential adoption of new technologies, including cloud deployment
- Value-add recognition capabilities for non traditional payment documents such as remotely created checks
“Although the first generation solutions were solid products, there are undoubtedly opportunities to address achievement gaps through technological innovation,” stated Vijay Balakrishnan, President of StratEx, LLC. “I am excited to work with Orbograph in an effort to break through the remaining technology barriers in an effort to achieve straight-through processing levels of efficiency.”
“We are pleased to collaborate with an industry pioneer who helped shape the deposit automation and RDC capture market space,” said Barry Cohen, Co-President at Orbograph. “We believe there is untapped value in the final stages of transforming check processing workflows with new innovations in check payments and remittances.”
Participate in the 2014 Check Processing Innovations Research, please contact firstname.lastname@example.org before September 30, 2014.
About StratEx, LLC.
StratEx, LLC. (www.stratexglobal.com) provides technology strategy, marketing and business process improvement consulting services to technology solution providers and financial institutions. We serve organizations of all sizes in the US and elsewhere on the globe. A combination of deep domain knowledge and global experience gives organizations actionable advice to hit the ground running. Whether it is big picture strategy or tactical implementation of product or marketing plans, our network of experts helps organizations expand their reach.
Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a premier supplier of recognition software for the U.S. check and lockbox processing markets, as well as electronic/paper automation solutions in healthcare revenue cycle management (RCM). Orbograph recognition technologies are “Enabling Transformation of the Check Experience” in over 1,600 financial institutions, service bureaus, clearinghouses and billers processing billions of checks and claims annually. Orbograph solutions are utilized by 20 of the top 30 U.S. financial institutions with in-house check processing. The cloud-based Healthcare Payments Automation Center (HPAC) is “Enabling Transformation of Healthcare Payments” by converting paper-based EOBs, correspondence and patient payments, normalizing ANSI X12 EDI 835 remittance advices and reconciling EFT/ACH payments to ERAs via reassociation. HPAC automates posting of receivables into patient accounting systems and hospital information systems, achieving straight-through processing levels of efficiency.
# # #
NOTE: Actual performance may vary according to hardware used, configuration or other factors within your processing environment. Statistics cited in this release do not constitute guarantees of performance. For more information, visit us online at www.orbograph.com.