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Atlanta, Georgia Office

3930 East Jones Bridge Road
Atlanta
GA
US

Owings Mills, MD Office

25 Crossroads Drive, Suite 200
Owings Mills
MD
US

Los Angeles Office

11150 Olympic Blvd, Suite 600
Los Angeles, CA
US

The Hague, Holland Office

Loire 200-202
The Hague
NL

London, UK Office

Baker's Hall 7 Harp Lane
London
GB

Singapore Office

30 Cecil St. #22-02/08 Prudential Tower
Singapore
SG

Scottsdale, Arizona Office

7272 E. Indian School Road
Scottsdale
AZ
US

Jersey City, NJ Office

10 Exchange Place, 23rd Floor
Jersey City
NJ
US

Brookfield, Wisconsin Head Office

255 Fiserv Drive
Brookfield
WI
US

Sydney, Australia Office

Level 14 124 Walker Street
North Sydney
AU

Luxembourg Office

4 Rue d'Arlon
Luxembourg
LU

Uxbridge, UK Office

7 Roundwood Ave
Uxbridge
GB

Lake Mary, Florida, US Office

600 Colonial Center Pkwy
Lake Mary
FL
US

Telephone

617-217-2816

Contact

Melanie Cousins
[email protected]
Back to all Fiserv announcements

Progress Energy Chooses CheckFree Platform to Drive Operational Efficiencies

ATLANTA (March 12, 2002) – CheckFree (NASDAQ: CKFR) today announced that Progress Energy Inc., a Fortune 250 diversified holding company headquartered in Raleigh, N.C, has selected CheckFree RECON-Plus for Windows to automate the reconciliation of various bank accounts across multiple companies. RECON-Plus for Windows streamlines the reconciliation process for any organization by automatically balancing accounts and is uniquely designed to tailor the automated reconciliation process to meet an organization's specific operational requirements.

Prior to implementing the system, Progress Energy manually reconciled financial data for numerous accounts across multiple companies. The acquisition of Florida Progress Corporation (FPC) added a number of accounts to the process without additional resources. This event necessitated a new systematic approach to the reconciliation process in order to complete processing in a timely manner. Now, with RECON-Plus for Windows the accounting department is importing data into the system, which then automatically matches, reconciles and reports financial information throughout the enterprise and provides online access to authorized users. This automation improves accuracy and allows existing staff to focus on more essential functions.

“CheckFree’s RECON-Plus for Windows allows our organization to streamline our reconciliation processes with a single enterprise-wide platform,” said Beth Bailey-Myers, Controller CP&L, Progress Energy Services Company. “We selected the system because of its ease-of-use and CheckFree’s 30 years of expertise in proven reconciliation systems.”

"The business of the back office is changing rapidly – for the better. Increasingly today’s initiatives focus on processing and automation to control operational risks and deliver new levels of efficiency, accuracy and cost effectiveness," said Mark Zill, senior vice president and general manager, CheckFree Financial and Compliance Solutions. “RECON-Plus for Windows offers automated tools to meet these demands, so that industry leaders such Progress Energy can meet today's business goals and remain prepared for future market challenges and opportunities.”