Remittance processing services for city utility payments
Since 2007, the City of Longview has contracted with Clark County and Clark Public Utilities (Joint Processing Center) for remittance processing services. They will no longer be providing this service, therefore the city is proposing to contract with a new vendor, Retail Lockbox, Inc.
Retail Lockbox, Inc. a private company located in Seattle, WA has offered to process the City’s utility payments in the same efficient manner and at the same price as the previous vendor.
Prior to remittance processing services, the City’s cashiers receipted and processed 8,000 utility remittances each month. More than seventy-five percent of these remittances arrived via the U.S. Postal Service. The staff time required to handle the volume of activity associated with utility remittances is substantial. Retail Lockbox, Inc. virtually eliminates all human intervention from the time the remittance arrives by mail to the point whereby remittances have been prepared for deposit at the bank. Clients for which Retail Lockbox, Inc. performs remittance processing services, include City of Tacoma, City of Boise, and the City of Lacey and many more.
If approved, in addition to the ongoing efficiencies and improved customer service provided by remittance processing services, the City of Longview will continue to realize savings of approximately $58,000.00 per year. Life-to-date cost savings through the City’s contract for remittance processing services approximates $500,000.00.