Check processing and WiseCHECK functionality overview(part 1)
In one of the articles, we have already talked about the benefits that check processing automation provides the company. It was also discussed why the WiseCHECK plugin for ABBYY FlexiCapture does an excellent job with this task. In brief, let’s remind what can be achieved using WiseTREND solution for check processing:
• the high processing speed;
• reducing the number of errors;
• processing of checks from different sources in one workflow;
• solution scalability.
Within this article, we will try to figure out step by step what kind of functionality the WiseCHECK & ABBYY FlexiCapture solution has, and what cool features it contains that allow you to achieve maximum efficiency when processing checks.
You do not need to have special knowledge in the field of optical character recognition (OCR) or data capture, as well as experience with ABBYY FlexiCapture. The solution is ready to use. If you need to customize it, for example, change the workflow or set integration with external systems, WiseTREND experts are ready to take on this job.
Pre-built document types
Process Checks, Stubs, and Attachment in one workflow. On the one hand, it is convenient and makes the processing more transparent, on the other hand, WiseCHECK & ABBYY FlexiCapture allows you to perform cross-document data verification, as well as verify the correctness of the document batch assembly (if checks and supporting documents properly combined).
Out-of-box customizable workflow
WiseCHECK & ABBYY FlexiCapture already has a workflow that allows you to achieve the highest quality check processing and controllability of the process. The workflow includes the stages of additional verification by the auditor to minimize possible errors. But these stages of additional checks can be easily disabled with a few mouse clicks.
Strong data verification rules and procedures
When creating this solution, WiseTREND experts have implemented many business rules that allow you to check the data captured from the check in order to minimize the number of errors. WiseCHECK verifies whether the check amount in digits is equal to the check amount in letters; if the date is correct; if there are any errors in the MICR Line and so on. These checks are critical for minimizing possible errors. Additional rules related to business processes in your company may also be added.
In the second part of the article, we’ll continue to talk about the functionality of the WiseCHECK & ABBYY FlexiCapture solution, including the Check21 integrated capabilities, the most important part of the workflow, which allows to reduce check returns, chargebacks, processing fees, and settlement time.