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5 Questions for EPSON

By Tom Kettell

1. When you talk to prospects, what do they tell you is their biggest payments automation, distributed capture, or document processing challenge, and why?

The biggest payments automation challenge is being able to capture payment and remittance data from all sorts of forms; small document, structured, semi-structured, and non-structured documents. Once the data is captured, the challenge will be lifting and transporting the data deeper into the enterprise system where the data can shared by multiple departments and functions.

2. What is your company doing to address this challenge?

Epson America, Inc. produces the highest quality, most reliable scanning solutions in the market. Our MICR accuracy and image restoration capabilities have been proven to be the finest in the industry. Epson has an imaging and scanning solution for all types of documents including small document, structured, semi-structured, and non-structured full page documents.

3. What do you believe will be the major storyline in payments automation, distributed capture or document processing over the next 12 months, and why?

Cost effective routing to efficiently manage the payments convergence by routing transaction through the most efficient, clearing avenue available (ACH, Check 21, Image Exchange). In addition, the ability to capture the data associated with the payment; integrate it with the enterprise system where can be utilized throughout the corporation.

4. Looking over the horizon, what do you believe will be “the next big thing” in payments automation, distributed capture or document processing, and why?

The emergence of check electronification in the last bastions of paper check processing; small market business (SMB) and healthcare remittance. Check electronification in SMB and healthcare had not been addressed as the right technology had not been available. With the introduction of Web based remote deposit capture, self configurable set-up, and low cost scanning solutions the way is not paved for SMB. The big question will be who will be the primary distribution channel for SMB? The banks or the ISO (Independent Sales Organization) community. An ISO is the primary source of credit card acquiring solutions today. ISOs account for well over 90 percent of the gross dollar volume of card transaction acquiring in the United States. Check electronification is a natural extension of an ISO core competency and provides them with a unique opportunity to cross sell a payment product into their existing base of customers. A current challenge in healthcare is the re-association of data from the remittance and the Explanation of Benefits (EOB). The introduction of full page scanning solutions to remote deposit capture will facilitate the way for healthcare check electronification.

5. What’s the most interesting thing in the payments automation, distributed capture, or documents processing space that you’ve read about recently (that wasn’t put out by your own company)?

The most interesting thing in the payments automation, distributed capture, or documents processing space that I’ve read about recently has to do with remote deposit capture at home. I am intrigued at the ability to take a check, scan it on my desktop scanner and receive same day availability of funds. I will be interested to see if the financial institutions embrace this concept for its retail banking customers.

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