CDS Global is performing lockbox services for Tempe-based Salt River Project (SRP), one of the nation’s largest public power companies. CDS Global is processing the entity’s electric payments.
Driven by its imaging and document processing system, CDS Global’s lockbox processing solution helps SRP ensure quick and accurate turnaround of its customer payments and expedite funds into its corporate bank account. CDS Global’s solution also allows SRP to avoid costly system upgrades and capital equipment purchases to keep up with the ever-changing lockbox landscape.
"Due to a decreasing number of customers who pay their bills by mail and the aging of machinery utilized to process the bills, SRP selected Prescott-based CDS Global to take over the responsibilities of processing the utility’s remittance billing," says Aidan McSheffrey, SRP’s manager of Financial Services. "SRP selected CDS Global because our customers will not experience a difference in the posting of their payments. The advantages of utilizing CDS Global are that it will result in lower costs for SRP and that processing occurs at an Arizona-based company."