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Get 20/20 Vision with EPCOR Advisory Services!

Amy Donaghue

By: Nicole Payne, AAP, CPA, CRCM, CIA, Vice President, Advisory Services

2020. I imagine optometrists all over the world have been waiting with bated breath for this magical marketing opportunity. “2020 is the year of perfect vision! Let us help you have 20/20 in 2020!” But, using the year 2020 as a turn of phrase knows no bounds of industry. Let’s take a look at some great ways EPCOR Advisory Services can help you get a better view into your organization's payments practices with a fresh set of eyes!

  • Risk-Based ACH Audit: with the 2019 ACH Rules change to replace Appendix Eight with a risk-based audit, we revamped the coverage of our audits to provide greater vision into the risks facing your organization and the internal controls you have put in place to mitigate those risks. As your trusted payments experts, we use our independent and objective eyes to identify areas of risk and bring recommendations for industry best practices to enhance your internal controls.
  • Policies and Procedures Review: you execute your daily tasks based on your policies and procedures, day in and day out. Or, at least that’s the plan. When’s the last time you really looked at your policies and procedures to ensure they do match your practices, comply with the Rules and are modeled after industry best practices? We review and observe your policies, procedures and practices to bring opportunities to reduce risk and enhance internal controls into focus for your organization.
  • Policies and Procedures Review for Mergers/Acquisitions: designed for institutions that are about to complete or have recently completed a merger or acquisition of another institution, the Mergers and Acquisitions service is a special twist of our standard Policies and Procedures Review. We review and observe policies, procedures and practices of both institutions to ensure the policies, procedures and practices of the resulting organization represent the best of each institution.
  • Origination Support: if your organization’s vision for 2020 includes expanding or launching origination services to your business clients, we’re your team! During our origination Support Service, we conduct interviews and deliver education for key members of your organization to guide you through a methodical approach for expanding or launching origination services. We also provide you tools you can use as a framework for implementing the new or expanded service.
  • Operations Review: the best place for fresh eyes may be in the form of an Operations Review. As part of the service, we observe your practices to ensure compliance with the ACH Rules, provide recommendations on how to implement regulatory guidance and share the industry best practice ideas that we see in the field as we serve our members. Our Operations Review service can also assess the effectiveness of internal controls and identify operational efficiencies and cost savings for your organization.

As you can see, EPCOR Advisory Services offers many services that can provide you a new point of view and improve your line of sight on your payments goals. Optometrists aren’t the only ones that can help you have 20/20 in 2020! Contact advisoryservices@epcor.org to see how EPCOR can help you deliver on your 2020 payments goals!