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Today, Aug 2005

Error Rates

Q: We are attempting to count encoding errors, misapplied payments and transmission errors. We are currently using a formula of no more than seven errors per 100,000 items processed. Would anyone be willing to share their error rates?

A: We are a processor. Our tolerance is presently seven per 100,000 for misapplies and three per 100,000 for encoding errors.

In-House vs. Lockbox

Q: I would like to find statistics on what percent of financial services companies process their own remittance payments vs. sending them to a lockbox? Does anyone have any idea or recent stats?

A: If you visit the www.aqubanc.com Web site and look through the "ClipSheets" (located on the Company page), I seem to recall seeing these types of statistics there. You may also be able to use the Search to find this information on the site too.

Answer this inquiry and continue this discussion at www.tawpi.org

Each issue, we'll pick one or two questions from TAWPI's Listserve (online discussion board). TAWP1 members can post their own questions, or reply immediately at www.tawpi.org; non-members can reply care of TODAY Magazine.

Copyright Association for Work Process Improvement Aug 2005
Provided by ProQuest Information and Learning Company. All rights Reserved
 

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