 |
 The
management of ACH return items can be a time consuming and
cumbersome process. Typically it is a manual process that
requires the originator, or Ventanex
client, to retrieve the return information from
their bank in a format specified by the bank. It may be as
simple as the bank providing a hard copy
of the return item detail to the
originator or, in some instances it may handled electronically,
enabling the client to retrieve an
electronic text file. In both cases, the
client must manually match the return item to the original
transaction
and reverse the original transaction posting in the client's
accounting or accounts receivable
system. Then, the client may choose to
re-initiate the transaction through the ACH network. As the
client's ACH volume increases so does
the time and costs associated with return
item management.
Ventanex adds efficiency and reduces costs for our clients by
enabling our clients to automate the
returns management process using proprietary
rules-based technology. The ACH Anywhere™
engine electronically connects to the
client's bank and retrieves the return information.
Within the engine, the return file undergoes a multiple step
analysis that includes:
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Automatically matching the
return items to the original
transaction electronic notification to the client that return
items have been received and processed |
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Intelligent
rules-based management of each individual return
item allowing the client to automatically reverse the
transaction within the client's
accounting system and/or depending upon return code
re-submit the transaction on the ACH Network.
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Our reversal engine "learns" as it
goes automatically tracking and managing
administrative returns resulting in better efficiency of the
ACH network. Additionally, the
knowledge base can be used to
better route and manage other types of returned items
within their organization.
Learn how the Ventanex Solution
can help your company mitigate returns processing.
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