03/09/10 - The San Diego Union-Tribune Consolidates Paper and Electronic Payments on Hosted US Dataworks Platform
HOUSTON, March 9, 2010 /PRNewswire via COMTEX News Network/ -- US Dataworks, Inc. (AMEX: UDW), the leading provider of enterprise payments solutions to banks, businesses and government entities, today announced that The San Diego Union-Tribune is expanding its hosted Clearingworks platform to process paper-based and electronic transactions. With today's announcement, The San Diego Union-Tribune is among the first billers in the country to use a hosted enterprise payments platform.
The San Diego Union-Tribune, the oldest newspaper in Southern California, has used the hosted version of US Dataworks' Clearingworks platform to process paper-based remittances for more than a year. Using a hosted payments processing platform eliminates the significant capital expense for hardware and IT infrastructure required for traditional licensed solutions. It also allows organizations to use the most current technology, without onerous upgrades.
Clearingworks is the industry's first hosted enterprise payments platform for the end-to-end processing of any paper-based or electronic payments or clearing channel. For its paper-based remittances, Clearingworks' Check 21 and Accounts Receivable Check (ARC) Conversion capabilities enabled The San Diego Union-Tribune to reduce its labor costs by more than half, speed funds availability by several days, eliminate daily trips to the bank to make deposits, and automate accounts receivable (A/R) posting.
The newspaper now is migrating all of its Web and telephone-initiated payments onto Clearingworks, to take full advantage of the platform's enterprise payments capabilities.
At a time when newspapers across the country are struggling to cut costs, processing its paper-based and electronic payments on the hosted Clearingworks platform will enable The San Diego Union-Tribune to reduce transaction clearing costs for its Web and telephone-initiated payments. Clearing Web payments through its credit card processor more than doubled the clearing costs of these transactions.
"In today's economic environment, The San Diego Union-Tribune is implementing a number of cost-saving measures across its operations," said Diane Davies, Manager of Accounting Services for The San Diego Union-Tribune. "By migrating our electronic remittances to the Clearingworks enterprise platform, we expect to slash our clearing costs for electronic transactions, achieving a return on investment in the low six figures within the first year."
"The continued success of Clearingworks at The San Diego Union-Tribune demonstrates the tremendous value delivered by our hosted enterprise payments platform for organizations of all sizes," said US Dataworks President and COO Mario Villarreal. "We expect our innovative approach to payments processing to gain momentum as organizations look for new ways to reduce costs, increase operational efficiency and enhance customer service." |
