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New remittance processing services.

The most recent and most exciting innovation yet from KLIK.COM, is the development of KLIK REMIT Remittance Processing Services. KLIK.COM was established for the purpose of automating system-to-system data transmissions using Internet-based technologies. With the formation of KLIK REMIT Remittance Processing Services, the company has now consolidated all of the separate component resources that have traditionally made up these services.

Remittance Services Defined

One of the most critical areas of real estate operations the receipt and collection of rent and maintenance payments. Remittance processing, or "lockbox," is ideal for real estate operations where receivables are deposited into numerous - and sometimes hundreds - of bank accounts. Automated lockbox services allow incoming payments to bypass the corporate back office and go directly to the bank, virtually eliminating mail handling and manual data entry, while enhancing collection float.

Lockbox services are often provided by the banks themselves, but are useful only if the company makes all of its deposits into that one bank. The banks often look at these services as loss leaders and, in their efforts to keep overhead at a minimum, offer an extremely basic service. Third party lockbox services like KLIK REMIT allow for deposits into any bank, and offer a much wider range of services. With a few exceptions, most banks outsource their remittance processing services to third party lockbox operations.

The Birth of KLIK REMIT

The window of opportunity for KLIK REMIT opened when one of the largest third party remittance processing services in the country was acquired by a large regional bank. As a result, many of their clients, both financial institutions and other organizations, have been forced to consider alternative resources. Until now, they have been hard-pressed to find a third party resource capable of commanding all of the aspects of lockbox processing.

KLIK.COM Remittance Processing Services has quickly gained recognition, and is now being considered by many of the areas largest banks. The overwhelming response the company has received makes it clear that there is substantial demand for a highly technical, independent remittance processing resource. The software expertise and production savvy of for which KLIK.COM is known make KLIK REMIT uniquely suited to this task. It is this track record that brought some of the country's largest financial institutions to KLIK's door.

Most remittance processing facilities have been retro fitted to handle increasing volumes, but lack the ability to incorporate new and constantly evolving systems, methods and procedures. Even worse, these companies have very little expertise in two of the most critical components of the remittance process: integration with the customer's existing computer systems; and the creation of the remittance document. KLIK REMIT brings over 20 years of expertise in software design and billing services to the remittance processing table.

Through improvements in existing production inefficiencies and the integration of new technological advances, the company has transformed an otherwise inert remittance processing industry. As a result, the pricing for these services can now be positioned at better than market rates, while adding significant value to the client. It is likely that KLIK REMIT will prove to be the most comprehensive yet affordable remittance processing service ever available.

Integration with KLIK.COM

Perhaps the most exciting feature of KLIK REMIT is its integration with the Internet-based KLIK.COM Data Exchange. The entire collection process is completely automated. Most importantly, the lockbox information can be automatically posted into the clients accounts receivable programs.

The KLIK.COM Data Exchange is a secure, electronic commerce network that enables companies to automatically download and post data from a host of traditionally paper-based data sources. Data from banks payroll companies, utilities, fuel companies, etc. is automatically picked up electronically by the KLIK.COM network, eliminating the need to submit billing and other financial data on paper. Their trading partners then automatically retrieve this data directly into their accounting systems, completely eliminating manual data entry.

KLIK.COM, LLC., with headquarters in Orangeburg, NY, specializes in automated, Internet-based business processing services. The KLIK.COM Data Exchange allows data sources and recipients alike to quickly and easily distribute information in an industry standard format. KLIK.COM can be reached by visiting www.klik.com, sending e-mail to info@klik.com or by calling (877) KLIK-COM.

Glenn P. Murray, President, KLIK.COM, LLC
COPYRIGHT 1998 Hagedorn Publication
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Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Focus on: Energy, Technology & Conservation
Author:Murray, Glenn P.
Publication:Real Estate Weekly
Date:Sep 16, 1998
Words:711
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