Wausau Financial Systems, the industry leader in receivables processing solutions, today announced that it has appointed Gary Cawthorne to serve as president, providing executive oversight of the business.
Cawthorne assumes leadership from Joe Delgadillo, who helped build the business into an industry leader in the payment solutions. A member of WAUSAU's board of directors since April 2009, Cawthorne brings a deep understanding of the business and market opportunities that lie ahead.
"With 30 years of experience in the banking and payments industry, combined with his service on WAUSAU's board, Gary is uniquely qualified for this position," said Bill Fenimore, chairman. "The unanimous choice among the board, he understands the industry's rapidly changing landscape and the significant growth opportunity it represents for WAUSAU."
Having played a lead role in the development of WAUSAU's strategic plan while on its board, Cawthorne will ensure that the company remains committed to its customer base, developing new and innovative solutions with a focus in three key areas:
* Continuing to Invest in Market-Leading Solutions: including Paperless Branch, which represents an extensive opportunity for financial institutions to reduce expenses, increase customer satisfaction and conform to more stringent risk and compliance regulations
* Integrated Receivables: an area primed for growth, with a recent survey showing that nearly 60 percent of corporations are not satisfied with their current in-house receivables processes and systems
* Lockbox Outsourcing: a $1 billion market that's growing at an eight percent annual rate, where WAUSAU has several recent client wins and expanded agreements
"This is a natural transition given my background in the industry and history with the company," said Cawthorne. "We have a solid strategy for the future and will continue to build on the momentum that's in place, exceeding expectations on an ongoing basis. This will be a milestone year for WAUSAU, pioneering innovation and delivering new solutions for our customers."
Cawthorne was previously a managing partner at Electronic Knowledge Interchange, a professional services consulting firm specializing in technology and process improvement. Before joining EKI, Cawthorne was president of Getronics Americas and a member of its board of management. Prior to joining Getronics, Cawthorne was a 25 year-veteran of Unisys Corporation. While serving as vice president and managing partner, global banking at Unisys Global Financial Services, he was responsible for Unisys' global banking practice, a $1.8 billion division.