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Co-op Financial Services to implement Softrax billing system

26 June 2006  |  2036 views  |  0 Source: Softrax

Softrax Corporation, a leading provider of enterprise billing and revenue management solutions, today announced that CO-OP Financial Services, the nation's largest credit-union-owned EFT (electronic funds transfer) network and processor, will implement Softrax solutions to manage their complex billing operations.

CO-OP Financial Services brings more than 2,000 credit unions a network of 25,000 surcharge-free ATMs, debit processing services, shared branching and fraud protection to help credit unions compete with large banks. Because the organization expanded service to all 50 states and 10 countries while augmenting their breadth of product offerings to include four business lines and 35 total products, they were looking for a billing provider that could manage a highly diverse billing environment.

Key data now comes from multiple internal and external sources with a wide variety of payment options and invoicing requirements. Softrax was chosen for their ability to process billing at very high transaction volumes - automatically, without errors and with increased service levels to customers.

"We looked at a number of alternatives, including building a system ourselves," said Kimberly Hester, Executive Vice President Network Services, CO-OP Financial Services. "Our requirements for the billing system were detailed and complex, but in Softrax we found everything we needed with no custom work required."

"Companies providing a range of business services with varied payment, pricing and invoicing methods increasingly find themselves in need of billing systems that can automate these processes on a large scale," said Gottfried Sehringer, Vice President Marketing, Softrax. "By implementing Softrax to manage its billing operations, CO-OP Financial Services will be able to greatly reduce the time it takes to generate these invoices, eliminate errors, and provide higher levels of detail to their customers."

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