Value In Outsourcing For Business Processes Executive Interview With Michael D. Fallin, BancTec

ECM Connection recently caught up with Michael D. Fallin; Senior Vice President, Corporate Marketing and President, Americas and Emerging Markets at BancTec; to discuss the value of outsourcing within the content and document management industry. This executive interview covers the benefits, cost-savings, risks, and options associated with outsourcing.

What types of companies are currently seeking value in outsourcing for business processes such as payment processing and administration?
Companies across many industries are realizing the value of outsourcing their back-office or non-core processes. Globally, we are seeing financial services companies outsource the processing of payments not only for themselves, but also for clients as lockbox-processed payments. This type of outsourcing is relevant for any company that receives payments from customers. There is also a great deal of interest in accounts payable outsourcing by organizations that receive large quantities of invoices that must be reconciled, approved, processed and posted.

Another growth area in outsourcing is the processing of claims in the U.S. healthcare industry. The claims processing and payment cycle in this business is quite complex and time consuming. Resubmission of claims due to error in procedure coding or coinsurance can cost the healthcare provider more money than the claim is actually worth. Outsourcing this function is a cost effective way for them to navigate this complex process and save money.

Michael Fallin, Senior Vice President, Corporate Marketing and President, Americas and Emerging Markets for BancTec, is responsible for the leadership and direction of BancTec Canada, U.S. Sales, Hardware and Software Services, Corporate Marketing, U.S. Business Process Outsourcing (BPO) and Emerging Markets.