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Case
Studies :
Corporate Disbursement : A Cable Company |
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Payment Harbor
| Client |
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A Cable Company |
| Client's Needs |
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One of the leading cable and broadband communications providers, serving more than 21 million customers in 41 states. This cable company currently issues approximately 200,000 balance refund (B2C) payments per month. These refunds occur when a subscriber closes an account that has a positive balance. Since this commonly occurs as a result of the customer moving, the check will not always reach the intended recipient. This results in a high call volume to CSRs, and the reprinting and mailing of checks. The cable company must also comply with Escheatment rules for for any checks that are lost or not cashed. This cable company desired a disbursement solution that would facilitate these processes.
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| Solution: |
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Harbor Payments implemented its corporate disbursement solution, Payment Harbor. This web-based payment processing platform provided centralized management of all disbursement activities and electronic payment file routing to internal or remote printers and designated payment processors.
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| Resulting Benefits: |
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The solution simplified workflows to generate a total cost reduction in excess of 55%. CSRs were assigned varying degrees of access and authority to the cable company’s data, and provided exception management through a central interface. Reissued checks were automatically voided to prevent “double cashing”. Payment Harbor’s partnerships with print/mail vendors were leveraged to provide an outsourced paper payment solution. Reconciliation was tracked by the Payment Harbor platform. Decisioning in the Payment Harbor solution allowed for automatic identification of items which were escheat-eligible, and delivery of this data to an unclaimed property partner for escheat execution.
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