CMS Completes Installation of Lockbox-Pro

Clearwater, FL, May 19, 2010 --(PR.com)-- Cash Management Solutions (CMS), recently completed the installation of a new release of its lockbox solution. This new release is a significant milestone for CMS and it’s customers as it represents a fully integrated retail, wholesale and wholetail platform. Lockbox-Pro was developed based on the very successful core wholesale application and integrates the best functionality of two remittance systems that is used by over 50 lockbox providers. The result is a powerful payment processing platform that accommodates any variation of retail, wholesale and wholetail payments. In addition this new integrated platform will reduce the overall cost of support and operation while providing a single repository of payment transactions.

For the first time, a single application now works with the Banctec Docuscan9000, Opex 3690 or IBML scanners for high volume wholesale, and will support the OPEX 150 IEM for higher volume retail. “We could have taken the approach of cobbling together the two applications and calling it integrated, or merging two databases at the backend of the process, but you still have two separate applications, two account setup processes, two places to set up an operator, two distinct output formats and two separate environments to support and upgrade.” states Edward Murray, President and CTO of CMS. “Lockbox-Pro provides a true integration of two applications into one.”

Lockbox-Pro was built with the goal of proving a single integrated system for wholesale and retail lockbox. Lockbox-Pro is also integrated with optional CMS software modules including, Single Click ICR for unstructured forms processing, Intraday Check 21, Exception Depot for Online Decisioning, Non-Financial transaction processing, mail tracer, CMS’ transmission builder program, CSR – an Online customer service representative module and Access Plus web delivery.

Lockbox-Pro was recently installed and is in production in a large outsourced lockbox provider. Lockbox-Pro was recently featured by CMS at the Fusion 2010 Conference, at Gaylord Texan and Convention Center in Grapevine, Texas from 9 to 13 May 2010.

Mike Reynolds, Executive Vice President for CMS notes “Some in our industry say lockbox is dead-end product. We believe it represents a strategic and important component in a bank’s payment franchise. Recent studies indicate Lockbox generates 12.5% of the bank’s cash management revenue. The fact is payments are not declining. Lockbox should be the hub of a receivables/payment management strategy” notes “At CMS, we have a rich 22 year history of innovation and we will continue to develop new product offerings that improve our customer’s ability to offer powerful and profitable lockbox services.”

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