IT Project Portfolio
Paula M. Palmer
University of Phoenix
March 8, 2010
The previous company that I worked for was a trust company where one of my responsibilities was to process and mail off payments by check and ACH’s for clients. These payments included mortgage payments, light bills, car notes, and various miscellaneous expenses. These payments were made from client’s trust funds and had to be established by the client and trust officer. Once the payment was set up, it was then approved by a board. Currently, all payments are done by hand. I propose that this process be automated. Automating this process will save time, reduce errors, and keep better track of checks paid which in the end will save money.
Job Description
The company currently uses a system called Sungard/Addvantage, a real-time, browser-based solution for asset management and trust accounting that delivers large-volume, straight-through processing from front-to back-office operations, that can be set up to automate check processing. The Addvantage system is used for trust funds, but some of our clients like to make charitable donations for tax right offs which in tails a separate system that we use called NorthStar, provider of wealth management software to financial services institutions for charitable endowment funds. These two systems will have to have its own check printing system, but being that the company is fairly small, operations could use the same printer to print from both systems. I had to receive a file from each trust officer with a list of payments that suppose to go out for the day. I would have to receive this list first thing in the morning so that checks could be written and mailed out before 6:00pm for the mail to pick up. It usually isn’t that bad until tax season when I have written and mailed out at least 200 checks from clients. Once the checks were written, I then had to give them all to the vice-president of the company to sign before they could be...