American Payment Systems, a processor for utility customers, will use Checkfree Corp.'s Recon-Plus for Windows client/server system to automate its daily transactions.
American Payment, which reconciles more than 100,000 transactions a day, is a subsidiary of United Illuminating Co., an electric utility in southern Connecticut.
American Payment manages more than 1,300 accounts for over 60 utility companies. Recon-Plus for Windows will be used initially to verify daily cash transactions across 100 bank accounts nationwide. It will later be expanded to include reconciliation of other processes.
"With this system, we will be able to automate more processes than ever before-importing, matching, reporting, etc., which will save significant amounts of time and money," said Richard A. Okun, president of American Payment. "We can consolidate our numerous bank accounts and further save on the associated bank fees."