CDS Global Extends Leadership In Imaging Technology
Enabled by the Check Clearing for the 21st Century legislation (commonly referred to as "Check 21"), CDS Global's electronic check presentment (ECP) service is fundamental to supporting the receivables processing goals of its clients. With electronic check clearing, billers can achieve significant benefits when processing their receivables through the CDS Global lockbox, including: consolidated depository relationships, lower bank fees, reduced or eliminated courier costs, fewer delays in getting checks to the bank, later deposits deadlines, improved funds availability, and streamlined handling of returned items and exceptions.
CDS, which is depository independent, has made a significant commitment to ECP, and it is generating more interest from billers and depository institutions alike. Across its operations network, 45 to 77 percent of the checks processed by individual CDS sites are now deposited through ECP. CDS will offer a common ECP interface to transmit deposits to any institution.
"CDS Global regards electronic check presentment as a key technology that will help billers reduce banking fees while extending deposit timelines and streamlining exceptions handling, ultimately providing customers with better funds availability," said Randy Randolph, director of sales, Business Solutions, CDS Global. "CDS Global is uniquely qualified to help clients take advantage of this emerging technology because of our depth and breadth of imaging expertise, depository independence and experience from being an early adopter of ECP."
Using ECP, CDS Global transmits an electronic file with check images and related data to each client's depository institution. CDS Global no longer has to prepare and transport paper-based cash letter transactions to the bank, which in turn, allows clients to gain the benefits of electronic clearing, without negatively impacting operations. This process also enables each client's depository institution to determine the most efficient means for clearing payments electronic deposit, image exchange, automated clearinghouse (ACH), or image replacement document. And, ECP eliminates the issues associated with paper cash letters.
More information on CDS Global is available at www.cds-global.com.
About CDS Global
CDS Global is an international data management company that provides customized fulfillment services to publishers and direct marketers of all sizes. The company is able to provide cost-effective and complex services to its clients due to its large volume of business with subscription, product and Internet fulfillment, direct marketing and statistical services, and contribution/lockbox processing. CDS Global manages in excess of 150 million names of active subscribers for more than 400 magazine and product fulfillment clients in the direct-to-consumer and B2B markets. Visit
www.cds-global.com for more information.
SOURCE: CDS Global