CDS Asks, 'Are Banks and Businesses Prepared for Receivables Processing Disruptions Caused...

CHICAGO -- Windy City Summit Presentation to Outline Steps for Ensuring that 'Your Receivables Processing Provider is Prepared for the Worst'

While receivables are a company's financial lifeline, most financial services institutions and corporate billers are ill-prepared for

payments processing disruptions caused by natural and manmade disasters. And as last year's hurricanes clearly demonstrated, there is an urgent need for banks and businesses to safeguard their payments operations from systemic disruptions. For firms that outsource their receivables, this means ensuring that their lockbox provider is prepared for the worst.

That's the message Marc Haskelson, vice president and general manager at Communications Data Services, Inc. (CDS) will deliver today during a presentation at the 20th Annual Windy City Summit at the Chicago Hilton and Towers.

"Today's complex, competitive and rapidly changing business environment has created new risks and new imperatives. Continuous payments operations are key to succeeding in this marketplace," Haskelson will say. "Companies have to become better prepared for all sorts of disasters."

With today's heavy reliance on global, 24/7 business, even a few hours of receivables downtime can have major consequences for billers, including: huge financial losses, lost revenue, tarnished reputation, lost brand value, reduced staff productivity, slower inventory turns, higher day's sales outstanding, lost clients and customer goodwill, and legal liability.

Haskelson will discuss with attendees that as a critical business activity, receivables processing requires high levels of redundancy, recovery and business resumption capabilities to prevent, mitigate and manage operational risk and any type of disaster. He will detail for corporate billers the steps for evaluating the disaster preparedness strategies of their lockbox provider; assessing the risk to their receivables infrastructure and critical data; and mitigating risks.

"Your receivables provider must be able to react swiftly and successfully to recover from disasters that impact their staff, facilities and systems, or risk costly disruption."

About Communications Data Services, Inc.

In the business of providing outsourced services since 1972, CDS has earned a reputation for service and value in the industry. Backed by the stability and experience of The Hearst Corporation, CDS provides a complete outsourced solution for clients to manage and execute all the critical business processes that impact their customers: information and order capture, data imaging and management, letter shop, printing, mailing, and product fulfillment.

CDS counts among its customers an elite group of the world's leading magazine publishers, direct marketing firms, financial institutions, non-profit organizations and corporate billers. CDS brings the right mix of people, processes, technology and tools to every job we do, making CDS a trusted partner for complex, mission-critical applications. CDS is headquartered in Des Moines, IA, with facilities in Arizona, New York, Pennsylvania, Canada, and England. Learn more at www.cdsfulfillment.com or by calling 866-897-7987.