By Mark Brousseau
Could the party already be winding down for remote deposit capture vendors? Possibly, warns Clint Shank, president of Omni-Soft, the parent company of SortLogic SYSTEMS. He thinks RDC technology vendors should be terrified that companies such as PeachTree, Intuit, FRx Software and Microsoft will integrate remote deposit capture capabilities into their accounting packages, and snatch their potential market share for the red-hot technology.
As evidence, Shank points to last week’s announcement that BankServ is offering its DepositNow system for online bank deposits through Windows Vista Business & PASS Commerce Center. Businesses that subscribe to the DepositNow service can scan checks using a desktop PC, then deposit them online without making a trip to the bank. A second version of the product, DepositNow A/R, also reads the handwritten dollar amount on a check, then automatically matches it to the correct customer and invoice in the popular QuickBooks or PeachTree accounting programs. A version of DepositNow A/R integrated with Microsoft’s Small Business Accounting system also will be introduced soon.
This integration of remote deposit capture with receivables technologies makes perfect sense to Shank. Billers are shifting their focus from automating individual A/R tasks to better managing the flow of receivables information. The idea is to streamline A/R procedures to improve working capital management, achieve labor savings, increase posting accuracy, eliminate so-called information float, and enhance service to internal and external customers.
Shank reasons that it’s only a matter of time before the accounting vendors take on the remote deposit capture functions themselves. There’s no reason for them to leave that money on the table, and give up a chance to add value to the products. Then it will be hard for the RDC technology vendors to make headway in these segments, or snag healthy margins.
How much time do the RDC technology vendors have left before the party is over? Shank’s not sure. But he believes they better strike fast, because the band is already packing up.
Mark Brousseau is the facilitator of TAWPI’s Payments Capture & Clearing Council and Forms Processing Leadership Council. He also is president of Brousseau & Associates, a strategic marketing and PR firm specializing in the payments and document automation arenas. Brousseau can be reached at 717-767-2574 or via m_brousseau@msn.com.
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Could the party already be winding down for remote deposit capture vendors? Possibly, warns Clint Shank, president of Omni-Soft, the parent company of SortLogic SYSTEMS. He thinks RDC technology vendors should be terrified that companies such as PeachTree, Intuit, FRx Software and Microsoft will integrate remote deposit capture capabilities into their accounting packages, and snatch their potential market share for the red-hot technology.
As evidence, Shank points to last week’s announcement that BankServ is offering its DepositNow system for online bank deposits through Windows Vista Business & PASS Commerce Center. Businesses that subscribe to the DepositNow service can scan checks using a desktop PC, then deposit them online without making a trip to the bank. A second version of the product, DepositNow A/R, also reads the handwritten dollar amount on a check, then automatically matches it to the correct customer and invoice in the popular QuickBooks or PeachTree accounting programs. A version of DepositNow A/R integrated with Microsoft’s Small Business Accounting system also will be introduced soon.
This integration of remote deposit capture with receivables technologies makes perfect sense to Shank. Billers are shifting their focus from automating individual A/R tasks to better managing the flow of receivables information. The idea is to streamline A/R procedures to improve working capital management, achieve labor savings, increase posting accuracy, eliminate so-called information float, and enhance service to internal and external customers.
Shank reasons that it’s only a matter of time before the accounting vendors take on the remote deposit capture functions themselves. There’s no reason for them to leave that money on the table, and give up a chance to add value to the products. Then it will be hard for the RDC technology vendors to make headway in these segments, or snag healthy margins.
How much time do the RDC technology vendors have left before the party is over? Shank’s not sure. But he believes they better strike fast, because the band is already packing up.
Mark Brousseau is the facilitator of TAWPI’s Payments Capture & Clearing Council and Forms Processing Leadership Council. He also is president of Brousseau & Associates, a strategic marketing and PR firm specializing in the payments and document automation arenas. Brousseau can be reached at 717-767-2574 or via m_brousseau@msn.com.
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