Union Pacific Corporation is one of America’s leading transportation companies. Its principal operating company, Union Pacific Railroad, is North America’s premier railroad franchise, covering 23 states across the western two-thirds of the United States. With 25,000 customers, including steamship lines, vehicle manufacturers, agricultural companies, utilities, intermodal companies and chemical manufacturers, Union Pacific processes a very large volume of cheques each year. Historically, the company had outsourced its cheque processing and imaging to its bank, but with nearly two million keystrokes per month, this was costly. In addition, Union Pacific had a vast array of different remittance formats, resulting in issues with accuracy and timeliness of cheque processing.
The company is constantly seeking opportunities to enhance process efficiency, and reliability, and reduce costs. Automating and optimising cheque processing offered an ideal way to achieve these objectives, with a substantial return on investment (ROI).
Julie A. Phillips General Director - Revenue Accounting & Analysis
Union Pacific Railroad