For banks and companies, managing cash flow in the digital arena can be fraught with complexity. AudioTel Corporation's sophisticated yet affordable software solutions with easy-to-understand, user-friendly processing makes all the difference. Dallas, Texas, January 1, 2007 - Thirteen years ago Scott Doores, President of AudioTel Corporation, had an idea. He wanted to enter the small banking world with a telephone banking tool. TeleBank is an audio banking product and the brainchild for which the company is named. Doores found that smaller financial institutions didn't have the buying power to purchase avant-garde services from Core providers. Scott Doores decided to build an affordable solution that could easily serve small banks in cities as well as small rural communities. When TeleBank launched, small bank customers could for the first time place a call and get 24-hour information on their account balances, interest rates, check payments, loan payoff amounts, fund transfers and more. "I grew up in a small, West Texas town. My parents owned a grocery store and trips were made to the bank everyday," Doores stated. "I wanted to build something that the small town banks could use."
As with many entrepreneurs Scott's ideas kept getting bigger. Before he knew it he was developing a new product, TeleWeb. This took every feature from TeleBank and made it available to the bank's customers via the Internet. TeleWeb allowed the user to pay bills, transfer funds and download all transactions into Quicken or Money. This was a premiere software tool for its day and became the catalyst for the next AudioTel breakthrough -- Cash Management. Cash Management was a leap forward for commercial depositors. Banks could now offer their retail accounts the ability to batch ACH (Automated Clearing House) transactions, make wire transfers, manage bill payments, manage payroll services and have full account access 24 hours a day. For the first time, these companies had real-time access to manage cash flow. Not one to rest on his laurels, Mr. Doores went on to develop a platform for check processing solutions. His dedicated team created premier software to drive the machines that scan and archive every paper transaction that flows through the bank. As he grew the company, Doores focused on simplifying the software and reducing the cost to the user. The Genesys Imaging Solution became the next "Aha" product line for AudioTel. Genesys began as an imaging suite of products capable of handling the thousands of checks entering the bank everyday. With the advent of Check 21*, banks had to have a way to efficiently scan (read) checks, create images and batch output to a document archive for transmittal. The old days of cancelled checks and microfilm were over. The rush was on. Genesys was reinvented as the ideal system to scan, transmit and archive payments for the small banking community. From Proof of Deposit to Remote Capture, every security feature and transmittal requirement was programmed to safely and securely manage check clearing. "I don't think I realized the magnitude of the company's vision," Doores admits. "I found that we were solving a puzzle where each piece neatly interlocked as the complete business solution for banks, merchants, utility co-ops, insurance companies, and more." AudioTel had an opportunity in 2005 to purchase RemitPlus. They built an interface to scan, image, archive and update customer's accounts receivable automatically. A small desktop scanner was all that was needed to empower RemitPlus' bright future. No more trips to the bank, no manual check endorsements, and employee hours were greatly reduced in physically crediting accounts from payments received. Item processing for mailbox payments deposited to the issuing bank could now be handled in the office. RemitPlus was the first product brought in-house, upgraded and marketed directly to the commercial user. This item processing system increases cash flow, lowers the float and saves companies thousands by automating the entire payment process. "I look back and feel lucky. It's amazing we were able to put all the right people and ideas together to make this great formula," Scott said. "I feel fortunate to be a part of this team." Affordable, easy to use business banking tools catapulted AudioTel, over a decade ago, into the forefront of innovation in meeting the financial world's complex challenges. Scott Doores and his staff of 70 highly skilled employees drove sales in 2006 to over $12 million.
*The Check Clearing for the 21st Century Act (Check 21) was signed into law on October 28, 2003, and became effective on October 28, 2004. It was designed to expedite the payments system by creating a substitute check (image). In this way checks could now be electronically transmitted via a check image. The Check 21 law allowed this image to become the legal equivalent of the original check. About AudioTel Corporation Founded in 1993, AudioTel Corporation is a privately held corporation specializing in software and hardware for financial institutions, offering robust back-office and retail banking platform solutions. Acquired in 2005, RemitPlus automates check deposits, remittance, and payment processing for small to mid-size companies. Banks, lockbox providers, electric cooperatives, municipalities, public utilities, property management firms, retailers, non-profit organizations, and more have benefited significantly by increasing their cash flow efficiency. | 
