Risk and Compliance
Without a comprehensive, state-of-the-art RP solution in place, billers – whether large or small – are vulnerable to potential remittance processing risks that might include:
- Non-compliances fees, fines and penalties – Regulatory burdens are real and costly;
- Exception item errors – Automation streamlines processing to save time, improve processing quality;
- Improve Days’ Sales Outstanding (DSO) – Higher DSO rates impact cash flow that creates balance sheet risk;
- Unknown Total Cost of Ownership – Do you have a system in place that accurately calculates unit costs including soft or hidden costs such as call centers? Can you forecast future costs or financial risk to your organization?
- Poor Payment Routing – Because of changes to the United States Postal Service, companies should re-visit their lockbox services to compensate for any USPS routing weaknesses;
- No Disaster Recovery Plan – Unforeseen natural or human-caused disasters can have a devastating impact on payment facilities, data and recovery;
- Provider Risk – Not performing comprehensive due diligence on the financial strength of your remittance processing provider.
All 3 Point Alliance processes and procedures are compliant with PCI, HIPAA and SSAE-16. Our processes cover these function areas:
- PII (Personally Identifiable Information)
- PCI DSS
- General security
- Data security
- Facility security
- Disaster Recovery