DadeSystems, a provider of next generation payment processing solutions, today announced that Carter Lumber has selected the company’s DadePay AR Automation and DadePay Mobile solutions to enhance its payment processing strategy and support the company’s nationwide expansion. Founded in 1932, Carter Lumber is one of the nation’s top building materials retailers with 143 stores in 13 states. The fifth largest lumber yard in the U.S., Carter Lumber provides builders as well as do-it-yourselfers with a broad range of quality building materials at competitive prices.
Carter Lumber will leverage DadePay AR Automation to improve cash application and enhance the efficiency of their overall AR processes by automatically matching payments to open billing/account receivables. The company will also be deploying DadePay Mobile to its large national sales force. DadePay Mobile will enable Carter Lumber to capture payments and remittance documents from the field and automatically match open invoices, post them and deposit the payment as part of one integrated, straight-through process. The system is delivered through a strategic partnership with Mitek (MITK), the leading innovator in mobile capture solutions.
"We've built a strong reputation by providing excellent service, which includes giving our customers immediate credit for checks that our sales people pick up in the field," said Carter Lumber Senior Vice President, Jeff Seder. "This is difficult to do when you're operating in areas that can't be serviced by a single bank or when your sales people can't always get back to the office the same day they pick up the check. To deal with these issues, we've had to maintain multiple bank accounts and establish a number of manual processes for posting these payments to our accounts receivable system. With Dade's AR Automation solution which includes a mobile application, we will be able to leverage technology to consolidate bank accounts and replace these costly manual processes. Our sales people in the field will be able to take a picture of the customer check and remittance document and the payment will automatically be posted to our accounts receivables system and passed to our bank for deposit into a single account. We're delighted to be working with such an innovative company on such an exciting project," Seder said.
"It's gratifying for an innovative, young company such as DadeSystems to be selected by an established industry leader with such a rich history,” said DadeSystems CEO Bill Zayas. We're confident that by providing this advanced level of automation through our DadePay technology, we will enable Carter Lumber to cut costs while continuing its commitment to excellence in customer service."
About Carter Lumber
Carter Lumber is one of the nation’s largest building materials suppliers headquartered in Kent, Ohio. The privately-held, family-owned company was opened in 1932 and now has 143 locations across 13 states in the Midwest, Mid-Atlantic and Southeast. For more information visit www.carterlumber.com
About DadeSystems
DadeSystems provides advanced payment processing solutions to financial institutions, wholesalers, distributors, property managers, healthcare providers, insurance companies and other organizations with complex payment system environments.
The company’s flagship offering, DadePay, is an integrated suite of payment processing solutions that leverages next-generation technology to accelerate payment processing speed, increase operational efficiency, eliminate unnecessary fees and dramatically improve cash collection. Supported by its team of industry professionals, DadeSystems delivers the technology and expertise organizations need to successfully navigate today’s complex payment systems environment and ultimately, improve their bottom line. For more information, visit: www.DadeSystems.com.
About Mitek
Headquartered in San Diego, CA, Mitek (NASDAQ: MITK) is the leading innovator of mobile capture and identity solutions for customer acquisition. Mitek’s mobile photo technology enables consumers to use the Camera as a Keyboard™ to reduce friction for mobile check deposit, account opening, insurance quoting, payments, and ID document authentication. This innovative mobile technology is licensed by more than 4,100 organizations and used by tens of millions of consumers. In June of 2015, Mitek acquired IDchecker, a global provider of cloud based identity document verification and facial recognition solutions. The acquisition broadens Mitek’s global presence, expands document coverage to more than 3,500 document types and adds international customers in payments, financial services and information services. www.miteksystems.com
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Contacts:
Lori Siragusa, 407-810-1618
lsiragusa@inlinemarketingpartners.com
