AnyDoc Software Introduces Check Processing Solution with Automated Remote Depositing

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TAMPA, FL — February 25, 2011 —AnyDoc Software, a leading provider of automated document, data capture, and classification solutions, announced today the release of their new check processing solution, AnyDoc®DEPOSIT™. Combining AnyDoc’s award-winning document and data capture technologies with classification and digital communication with banks, AnyDocDEPOSIT is a unique product that manages the Check 21 process (including inquiring and reviewing past check and deposit transactions), providing businesses with the tools to make customized, convenient digital deposits from their central and/or remote offices. AnyDocDEPOSIT works in tandem with Infiniworx® to automatically process incoming checks and money orders from scan to Check 21 deposit, for both individual checks and those attached to remittances without the need to manually burst checks.

Incoming checks are scanned with standard office scanners and the images are passed to Infiniworx, AnyDoc’s revolutionary platform for capture workflow.  Infiniworx extracts data from checks, including routing and account numbers (MICR data), check number, and check amount using CAR/LAR recognition (Courtesy Amount/Legal Amount Recognition).  The MICR data can be compared against a database to verify routing and account numbers, and retrieve the customer name if available.

Next, an image of the back of the check can be created (allowing single-sided scanning), and the check can be virtually endorsed for immediate or scheduled deposits. The check data and images are then exported to AnyDocDEPOSIT for further processing.  Infiniworx can also accept data from more advanced scanners (e.g. OPEX, IBML) including the MICR data when the scanner has the MICR reader option.  This allows the MICR data to be read twice and verified—first by the scanner and again by Infiniworx for true exception case processing.

AnyDocDEPOSIT electronically creates and manages bank deposits, eliminating the need to physically deposit checks. A cash letter is created in x9.37 format, which includes the data about the deposit (total amount, number of checks, etc.), the digital information from the checks (account numbers, amounts, etc.), and the check images.  The x9.37 format is approved by the United States Federal Reserve Bank for combining both check images and check information into one file for electronic deposit. The solution encrypts the data and securely transmits the deposit information to the bank.

“We developed our check processing solution by expanding the functionality of our existing technologies to meet the growing demand for electronic check processing and deposits,” said Samuel Schrage, President of AnyDoc Software.  “Eliminating the need to physically deposit checks will provide our customers with huge time savings as well as instant access to cash flow. Our primary mission was to provide the end user with an easy-to-use tool that minimizes manual effort yet provides great flexibility and manageability.”

Before making the deposit, AnyDocDEPOSIT also verifies there are no duplicate checks (or check images) in the cash letter.  Deposits can be generated manually or created automatically based on user parameters such as the number of checks per deposit or at predetermined times during the day. The solution can also be set up to make deposits to more than one account at one or more banks automatically.

AnyDocDEPOSIT also features an online repository, allowing clients to retrieve deposit information status and view check images from a convenient browser-based interface.

About AnyDoc Software

AnyDoc Software has been developing award-winning document, data capture, and classification solutions since 1989.  More than 3,000 clients and 70,000 users worldwide in 45 countries rely on AnyDoc solutions to eliminate millions of hours of manual data entry while improving their productivity and data accuracy.  Any paper form or document including invoices, remittances, and checks can be automatically processed with full data capture without the need for manual keying.  Clients include: Fastenal Company, Sony Pictures Entertainment, BlueCross BlueShield, the U.S. Census, LeasePlan, Coop, and more.  For additional information, please visitwww.AnyDocSoftware.com.

News Source :  AnyDoc Software Introduces Check Processing Solution with Automated Remote Depositing