Transforming the payment process

A large telecommunications company has saved millions of pounds by allowing CFH to manage its cheque payment process.

The company was making up to three million cheque payments a year from 38 offices.  It faced high manufacturing costs (many low-volume runs at different offices), high distribution costs (printer to local office and on to recipient) and significant fraud risk (many blank cheques held at numerous insecure sites).

We worked with our customer, a leading print manager, to provide a solution.  We print a generic base stock and hold it on our site.  Every day, we collect and process payment data from the different offices and infill cheques as required, overprinting the branch identity and MICR codes.  We add further personalisation to the documents according to customer profile.

We mail the payments same day.  Full electronic and paper audit control is supplied back to the company.  They are charged only when cheques are despatched, not when base stock is manufactured.