Document and Transaction Processing Solutions Paperless Item Module

The Information Technology, Inc. Paperless Item Module (PIM) is a comprehensive system for managing and controlling the processing of ACH transactions via magnetic tape, data communications, or on-line input. PIM offers a complete and efficient means for an institution or processor of multiple institutions to become an active participant in the Automated Clearing House (ACH) System.

Flexible billing routines readily accommodate the wide range of clients and corporate accounts processed by PIM and the variety of services offered. Maximum and minimum charges, per file, per item and per batch, are easily established and changed, if billing adjustments are necessary.

PIM provides a complete audit trail of ACH transactions, both sent and received, and generates reports which detail all transaction activity. Debit transactions are verified against an Authorized Prenotification File and unauthorized items are reported on the Prenotification Exception Report.

By using PIM, a financial institution can realize not only an increase in revenue through expanded services, but a decrease in operating costs due to less paper handling and document storage.

Characteristics

• Provides complete reporting of paperless transactions
• Generates new sources of income
• Reduces operating costs
• Increases accuracy and efficiency
• Provides flexible billing
• Allows automatic reorigination of returned items
• Allows automatic settlement
• Verifies authorized prenotification transactions
• Establishes daily and file maximum credit limit controls
• Produces transaction notices and statements
• Interfaces with other ITI software systems
• Provides efficient control of ACH files

PIM provides a complete audit trail of ACH transactions. Through its extensive reporting capabilities, PIM tracks all incoming and outgoing ACH activity. Settlement activity and summary totals reports are provided to simplify the balancing of the daily ACH activity. If exception errors are encountered, detailed error and exception reports provide the necessary information to quickly resolve them. Client and corporate account billing reports and statements summarize all activity for the billing period.

New Sources of Revenue

By offering the services provided by PIM, a financial institution increases its potential for both direct and indirect income. Predefined processing charges assessed for each file and item type, and minimum, maintenance, and miscellaneous charges contribute significantly to direct income. Originating ACH transactions for corporate accounts and inclusion in account analysis is also a source of income.