By Dan Bolita, ICP
In a demonstration of the convergence of transaction processing
technologies, the TAWPI 2007 Forums & Expo in Boston highlighted
the growing demand for industry information, education and solutions. Attracting a robust 20 percent increase in attendance and a highly knowledgeable attendee base, the three day conference delivered lively education sessions, round table discussions
and networking opportunities. TAWPI billed its 2007 Forums & Expo as revolutionary and took a number of steps to diversify the content, attract new exhibitors and increase attendance. The results of these steps were
impressive:
• The numbers of full forum registrations for this year’s event were
up 20 percent compared to last year – placing them at the highest
level in five years—and the number of companies in this
year’s expo hall was up over 10 percent.
• Approximately 25 percent of this year’s full-forum registrants
were new to TAWPI, demonstrating the interest in transactional
process content.
• The demographic mix of this year’s full-forum attendees showed
a higher representation of senior management and treasury management
professionals.
“TAWPI is extremely excited about the opportunities that lie
ahead,” said TAWPI President Frank Moran. “We recognize the
convergence of these technologies, yet our attendees were given
three separate forums each with specialized content—that formula
worked well.”
In an increased effort to facilitate industry-specific peer-to-peer
interaction, the Forums offered a number of vertically focused
round-table and networking events. Facilitated by a moderator,
these were some of the most compelling interactions, as professionals
met face-to-face. Payment processors from governmental taxing authorities and state departments of revenue shared candid experiences with process automation. Similarly, in healthcare transaction processing, insurance, banking and utility discussions,
attendees were able to share their experiences in an open and vendor-neutral environment.
A number of times, these discussions were able to offer specific tips or advice that processors could apply to their own operations. A recurring sentiment was the disconnect between promised expectations of benefit and actual results. Nonetheless, most operations professionals agreed that rewards from the deployment of current technology far outweigh the risk of waiting.
Keynote Presentations
In a well attended and entertaining presentation, James Cunha, Senior VP of the Federal Reserve Bank of Boston made a humorous,
yet highly relevant analogy between the changing nature of payments and the historical changes in refrigeration. Comparing check processing to the robust demand for ice in the mid nineteenth century—and the sudden decline in ice-harvesting—Cunha found many parallels. In the 1800s, ice harvesting was the largest non-agricultural industry. However, due to the advent of mechanical refrigeration, the industry was fundamentally changed. Similarly, the development of alternate payment methods has dramatically impacted paper check processes. Cunha noted that the demand for the cooling power brought by ice never went away, similarly the ability to pay obligations has not diminished despite the fact that using checks for the purpose is in steep decline. Cunha effectively drove home the point that industries in transition offer remarkable opportunities, sometimes not recognized until years later. Continuing the analogy, he noted the new opportunities of fresh foods brought by at-home refrigeration, as well as the development of air conditioning.
In the payments space, the decline of paper checks has brought a range of technology opportunities including multiple payment choices, faster access to funds, and a hastened deployment of
image-based tools.
In a separate address by US Postal Service Deputy Postmaster General Patrick Donahoe, attendees heard of the renewed emphasis that the US Postal Service has placed on its remittance business. Donahoe also noted the decline in paper volume, outlining steps the USPS is taking to offset a decline in remittance postage revenue.
By all counts, the TAWPI 2007 Forums was a measurable success. The exhibit floor remained active throughout the three days, and sessions were well-attended right up to the closing session. Perhaps the best indicator is the fact that nearly all of the
exhibitors have already reserved their spots for the TAWPI 2008 Annual Forums scheduled for August 24 - 27th, in Orlando, Florida.
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