Check 21 And ARC: The Sum IS Greater Than The Parts
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Check 21 and accounts receivables conversion (ARC), two promising approaches to check truncation and clearing, will prove to be a potent combination. Together, they offer check and remittance processors two more tools for clearing and settling checks faster, cheaper, and more accurately than ever. The danger companies face is implementing one of these methods in place of the other, limiting their organization's ability to meet the industry's fast-changing check and payments landscape. Companies that take early steps to develop a comprehensive check clearing strategy – encompassing both check truncation and ARC – will be rewarded with unprecedented levels of operations flexibility, while protecting current investments.