Standard Register Unveils Automated Solution to Help Banks
Press release from the issuing company
DAYTON, Ohio--July 3, 2003-- Standard Register announced the launch of ArmoredTrac(TM), a new automated solution that utilizes bar code technology to track the movement of cash deposits. Designed to help optimize ATM and branch deposit operations, ArmoredTrac helps banks drive down the cost of tracking deposit collections while improving accuracy and security. It is the latest offering in Standard Register's full spectrum of document management solutions for the banking industry.
"Managing the collection of cash deposits is challenging. It's extremely costly to track and control collections from multiple pickup points, especially when the process is handled manually," noted Jeff Strasser, vice president of strategic marketing for Standard Register's Document & Label Solutions. "ArmoredTrac leverages technology to fundamentally improve the tracking process, cutting man-hours by as much as 50 percent while reducing discrepancies and establishing tighter control over the chain of custody."
ArmoredTrac automates the collection process, utilizing bar code scanning hardware and software to track cash, checks and credit card transaction pickups faster, easier and more securely. It gathers pickup data at the various points of collection, recording date, time and personnel identification information, so there is a complete record of deposit counts and movements.
The multiple layers of security provided by ArmoredTrac enable the bank or service bureau to better control transfer operations. Management can restrict who has access to data collection screens, and who can view or change specific information. An audit log provides a full accounting of every movement. The system also includes a backup data-archiving function.
ArmoredTrac offers complete reporting capability. In addition to providing pre-defined reports, it gives users the ability to search the database, examining collection activities by time of day, operator, pick-up point or any other parameter established in the database.
According to Strasser, ArmoredTrac is easy to implement. Its modular design enables a company or financial institution to convert manual processes a step at a time, adding capabilities when they're ready. Standard Register works with clients to map the migration path, evaluate their process, and establish a workflow that meets their objectives and interfaces with their reconciliation system.
The ArmoredTrac software was developed exclusively for Standard Register by its long-time business partner ASC. It is part of Standard Register's total solution that includes process review, software, hardware, supplies, installation and training.
"Our goal is to provide banking customers with the means to optimize the deposit management process by introducing greater accuracy, efficiency and security. ArmoredTrac achieves that objective through best practices and technology," Strasser said.
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