Mosinee, Wis. – July 31, 2009 – Nearly one year after Public Service Electric & Gas (PSE&G) switched its payments processing system to UtiliWorksTM, the most comprehensive service WAUSAU Financial Systems (WFS) offers, the utility has witnessed a transformation in terms of efficiency and funds availability that greatly exceeded company expectations.

WAUSAU leaders feel this success bolsters its reputation as an industry leader in distributed payments and receivables processing solutions, spanning diverse industries including utilities, financial institutions and insurance companies. This reputation has resulted in WAUSAU securing nearly 20 new clients from competitors since 2007.

“Our significant achievement with PSE&G demonstrates that complete, integrated solutions work best to meet business needs in a competitive environment,” said Michael Tallitsch, Vice President – Corporate Solutions for Utilities for WAUSAU. “We continue to gain traction in various industries, offering in-house or outsourced solutions that process payments effectively and with maximum flexibility dependent on client needs.”

Meeting a utility’s needs
In summer 2008, PSE&G – one of the 10 largest utility companies in the Northeast United States, serving nearly three-quarters of New Jersey’s population – selected WAUSAU Financial Systems as its receivables processor. PSE&G wanted to replace a legacy receivables system with one that would more efficiently process customer payments with centralized and distributed capture, as well as one that would more successfully handle image-based correspondence. In so doing, PSE&G would shed its paper- and labor-intensive system, becoming greener and more cost-effective along the way.

In consultation with WAUSAU, PSE&G opted to use the full UtiliWorks solution. This included WAUSAU’s industry-leading remittance application, remote capture and enterprise content management application. The company was provided with an OPEX Eagle with Wide Open IEM for primary mail extraction, image capture and routing. During implementation, PSE&G deployed more than 30 remote capture seats for capturing approximately 70,000 to 80,000 customer payments per month at remote office locations throughout its service territory. PSE&G further used MAVRO Imaging technology as the landing zone for all payments as well as advanced statistical reporting.

A successful transition
Within several months, it became clear that PSE&G’s investment in UtiliWorks was paying off. Results included:

• An increase of $8.4 million in daily investible cash.
• One hundred percent of payments processed within 24 hours.
• Reduction in staff by one full-time employee and 10 part-timers. Fifty percent of daily volume is processed by one full-time employee. Overtime pay was eliminated.
• Significant improvement in transaction integrity.
• Better access to customer information, plus security of that information.
• Elimination of courier costs.

“The WAUSAU Financial Services solution was advertised as everything we’d need – an enhancement to receivables processing with remote capture capabilities and document management and retention services, all while lowering unit cost,” said Patrick Naples, District Manager – Customer Operations for PSE&G. “The results since this time last year speak for themselves. Continuing our partnership, we expect to see continued improvements in efficiency and in our ability to effectively serve our customers.”

Elements of remittance leadership for utilities
Today, WAUSAU serves more than 45 utility companies processing more than 200 million annual transactions. WFS’ experience with these companies, including PSE&G, convinces the company that a complete and centralized solution is critical to meeting utilities’ needs, Tallitsch said. To that end, UtiliWorks is made up of multiple modules that address all aspects of a utilities receivables environment, from distributed capture needs and centralized payment processing to long-term storage needs and information access for customer service purposes.

Solutions such as UtiliWorks bridge any gap that might occur when a utility covers multiple geographic regions. No matter where a customer is, instant access to archived images and customer correspondence helps ensure the highest quality customer service is possible. Tallitsch adds that an overriding goal for utilities using such technology should be balancing speed and accuracy, ideally with a program that integrates seamlessly with accounting processes.

A solution needs to be completely scalable and customizable, depending on the utility to be served, Tallitsch said. “Every utility is different, and we have seen that one-size-fits-all solutions will not work,” he said. Looking ahead, it’s important to stay ahead of the technology curve, Tallitsch adds. For example, more utilities are considering accepting mobile payments from customers, and are seeking help from providers that can make this a reality.

Payments processing leadership for financial institutions, insurance
Although WAUSAU has seen significant success in utility remittance, its reach is much broader, encompassing financial institutions, insurance companies, government entities, nonprofit organizations, and more. For example, WAUSAU recently partnered with a large property and casualty insurer with more than 3 million policyholders and more than $50 billion of insurance in force.

WAUSAU has also won the business of five of the top 50 banks across the U.S. since March 2007, and processes more than $1 trillion in payments each year. Since 2004, WFS has brought on board more than 60 companies onboard for remittance processing, including PSE&G.

“Although these types of businesses are very diverse, there are common elements across industries that a remittance solution must serve,” Tallitsch said. “We are committed to serving these businesses and maintaining our leadership position by being at the cutting edge of emerging technology and understanding its best uses.”

About WAUSAU Financial Systems
WAUSAU Financial Systems (WFS) is a premier provider of payment and receivables processing solutions, serving businesses of all types move money faster. With its products, services and consulting, WFS works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WFS holds the No. 1 market share position in retail and wholesale remittance processing solutions. WFS processes more than $1 trillion in payments each year, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 11 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WFS’ remote deposit capture service, and industry consultants Celent and Aite have ranked WFS’ remote capture functionality above all competitors. For more information, visit www.wausaufs.com.

To learn more about WFS utility solutions, see www.wausaufs.com/utilities.