Learn how a large southern energy utility company turned to 3 Point Alliance to transition from processing daily cash letters through their bank to an image-based outsourced solution. Our fully customized application software helped the client migrate remittances seamlessly – reducing costs and increasing customer satisfaction.
A Mission Critical Payment Transition
As paper check processing volumes continue to decline, there is more pressure for large banks to reduce overhead which can lead to payment facility closures. Our client, a Florida-based utility company, needed a new remittance processor when their regional bank informed them – after years of processing their daily cash letters – they would stop processing cash letters.In addition, the nearest geographic payment center only accepted image cash letters – a capability our client did not yet have.These two factors created a mission critical need for our client.Because of an existing relationship as their remittance software provider, we were engaged to transition them from creating physical cash letters to a 3 Point Payment Processing (3 PPP) customized Image Cash Letter software solution.
After in-depth analysis with 3 Point Alliance cross-discipline teams, we were engaged to: