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Commercial Capture Remittance Processing Lockbox Opertions Electronic Deposit Supported Scanners

Olan Mills, Inc.

Olan Mills, Inc. (www.olanmills.com) was founded more than 70 years ago and has evolved into the worldwide leader in portrait photography. With over seven hundred professional studios and over two hundred mobile church photography teams throughout the United States, they serve families and communities through their Studio Portrait and Church Directories Divisions.

Challenge


Olan Mills, Inc. needed a fast, efficient method to process customer check payments. Each Church Division sales associate mailed checks to one of 4 regional banking centers for deposit using lockbox processing. On average it would take 3-5 business days before a check was deposited and up to 20 days for an NSF check to be returned. This was becoming a huge strain on the company since they had a 7% NSF rate.

Solution


After installing AudioTel's RemitPlus software and two scanners, Olan Mills began processing checks in a considerably different way. With RemitPlus, Olan Mills can process checks in just over 10 hours. They receive NSF checks back in just 48 hours, which has lowered their NSF rate significantly from 7% to just 7 checks a day. According to Brad Johnson, Olan Mills Accounting Manager, "The RemitPlus system paid for itself in less than 20 days." Capturing both front and back images, Olan Mills researches payments easily. It takes them almost no time at all to locate the information they need, and it can be done from multiple computers.

Results


While the RemitPlus System was installed a little over a year ago, the company has already seen a significant reduction in cost. RemitPlus allowed them to eliminate 4 third-party lockboxes as well as consolidate their bank accounts. "In the first year alone we saved $300,000 because of the RemitPlus solution," said Brad Johnson.

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