Allied Insurance Streamlines Remittance Processing Operations

Today, Jun 2004

Allied Insurance, (www.alliedinsurance.com) a member of the Nationwide Insurance Companies, has implemented a remittance processing system for its accounting and exception mail operations. Allied Insurance collects thousands of check and list payment documents each week, requiring a significant amount of resources to manually key the required information into its accounting database. Over time, continued business growth exposed operational inefficiencies that required an automated solution. After evaluating software from several vendors, Allied selected the Open Scan (www.openscantech.com) solution to automate its remittance processing operations.

Allied was able to eliminate the problems obstructing the company's workflow, thereby generating cost savings that led to a fast payback on their investment. Improved accuracy and streamlined workflow accelerated Allied's system throughput and reduced labor expenses by 75%. After the system was running for 60 days, the transaction kill rate was 40%; after 120 days, it improved to 65%.

"I'm impressed," said Tina McGuire. "The system has provided us with the appropriate tools to successfully continue growing our company".

Tina McGuire, remittance processing manager for Allied Insurance said, "Open Scan Technologies understood our requirements and provided the best solution for streamlining our processes".