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Cash Management Solutions, Inc. and private-label outsourcing subsidiary, Image-Remit, announce strategic organizational restructuring
Growing software and outsourcing divisions name new corporate officers…
Thursday, October 19, 2006
CLEARWATER, Florida – In anticipation of aggressive product growth and further expansion of its highly successful outsourcing subsidiary, leading remittance solution provider, Cash Management Solutions, Inc., reorganizes its corporate structure to include a dedicated president for each of the company’s two divisions.
Under the new structure, Walter Elkins, who previously served as President of both CMS and Image-Remit, will now act as Chief Business Development Officer for both divisions. Reporting directly to CEO, Arminda Rigakos, Elkins will be responsible for analysis and development of new market opportunities. This includes proposed geographic expansions, as well as entry into new vertical markets or lines of business. “With over twenty years in the banking industry, Walter is uniquely qualified to help guide CMS’ efforts in the marketplace via this crucial, growth-oriented new role,” said Rigakos.
CMS co-founder and CTO, Edward Murray, now steps into the role of President of CMS. As a founding father and the company’s original software designer and developer, Murray possesses unprecedented insight into the genesis and evolution of CMS and its product offering. Having played an integral part in growing CMS into the industry leader it is today, Murray is the natural choice to usher the company’s software division into the future. “Our ground-breaking, image-based Lockbox-Plus tm application, introduced in the early 1990’s, literally changed the face of remittance processing,” remarks Murray, “and it is our intention that CMS remain a leader of such innovation.”
Larry Jones now heads up the company’s outsourcing subsidiary, as President of Image-Remit. Jones’ former position as Director of Sales and Marketing for both the software and outsourcing divisions has given him an in-depth understanding of how these two divisions compliment each other. “CMS and Image-Remit together offer a unique set of capabilities to our customers,” comments Jones, “allowing them to ‘mix and match’ just the right combination of installed software applications, outsourced services, and ASP solutions to optimize their product mix, speed to market, and unit cost advantages.”
Both CMS and Image-Remit are energized throughout by these organizational changes, and are better prepared to manage the rapid growth brought about by the success of their innovative new “flexibility” service platform. With customers throughout North America, including four of the top five U.S. banks, both companies are increasingly focused on providing innovative solutions via a unique combination of installed and outsourced services.
About CMS:
A leader in remittance and lockbox technologies since 1988, CMS was among the first such vendors to develop automated, image-based applications, utilizing cost-effective client-server/PC technology.
In keeping with this tradition, CMS continues to provide clients with sophisticated, image-based solutions for all aspects of their remittance processing needs. From major hardware/software installations to outsourcing, and everything in between, CMS solutions include: wholesale/retail/wholetail lockbox, real-time online exception adjudication, non-financial batch processing, key-from-image technology, specialized healthcare revenue-management solutions, and much more.
At CMS, innovation extends beyond product offerings. Flexible licensing and volume-based pricing make CMS solutions viable from multinational institutions, to community banks. Flexible thinking, expert installation & training, and 24-hour support mean CMS is there every step of the way.
About Image-Remit:
Image-Remit is a wholly owned subsidiary of Cash Management Solutions, Inc. chartered to provide a wide range of high quality, image-based, lockbox outsourcing services.
Image-Remit services are suitable for both end users, as well as third-party service providers seeking to offer a sophisticated, state-of-the-art, private-label, lockbox product, without the large capital expenditures, staffing issues and facilities management resources required to do so.
With continued investment in the latest technologies and an industry-tenured management team, Image-Remit will not only deliver exceptional quality, they will contractually guarantee it!
CONTACT:
Arturo Florcruz
SVP Sales & Marketing
Cash Management Solutions, Inc.
(972) 899-1013
arturo.florcruz@cashmgmt.com
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