Revenue Processing at Indiana University

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Revenue Processingat Indiana University
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Revenue Processing At IU

• Complex Organization
• Over 500 units process revenue
• At least 900 employees are involved in revenue
  processing

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Revenue Processing At IUA Year at a Glance

• 792,902 credit card transactions totaling 124.4
  million
• 100,932 lockbox transactions totaling 231.4
  million
• 126,694 online ACH transactions totaling 184.4
  million
• 4,268 electronic transfers totaling 6.1 billion
• Over 500,000 check transactions
• Cash?

230 locations 20 locations 9 locations
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Revenue Processing At IU

• Policy VI-120 Revenue Processing
• Why do we have it?

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Policy VI-120

• Approved July 2006
• Responsible Organization Office of the Treasurer

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Policy VI-120

• Promote Best Practices
• Educate
• Train
• Standardize revenue processing
• Provide efficient solutions
• Strong internal controls
• Reduce risk of fraud and/or loss
• Implement Best-in-class revenue processing

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Policy VI-120What is covered?

• Treasury will review current and proposed revenue
  processing activities
• Treasury will recommend and approve the payment
  method(s) based on business need

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Policy VI-120
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Policy VI-120Why limited options?

• Security of payment information
• Compliance with regulatory bodies

• NACHA National Automated Clearing House
  Association
• PCI DSS Payment Card Industry Data Security
  Standards

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Policy VI-120Who is covered?

• Covers all areas that process revenue, no matter
  how small

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Policy VI-120Who is covered?

• All employees who process revenue require
  training
• All employees who process revenue will be
  required to pass a background and credit check

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Policy VI-120Available Training

• Training sessions (like this one!)
• Annual e-Business/Banking Seminar
• Quarterly Newsletters
• Web site tutorial
• List serv emails

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Policy VI-120Background/Credit Checks

• Currently on hold pending procedures being worked
  out with Human Resources.
• Employees must pass prior to processing revenue

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Policy VI-120 Key Principles

• Process information, not paper

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Policy VI-120 Key Principles

• Implement Best Practices
• Electronic processing is preferred
• Use of cash is discouraged
• Options linked to FIS
• Separation of Duties
• Internal Controls
• No copies of checks
• No storing complete account data
• Protect University
• Protect you (as person and employee)

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Policy VI-120Revenue Processing Options

• Options for processing revenue are covered during
  Treasury Reviews

Face to Face Solutions
Web Solutions
Outsourced Solutions

• Key Benefits
• Best Practices
• Automation
• Self Service for customers
• Payment processed off site and information
  processed by department.

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Treasury Contacts

• Payment Card Services
• 812-855-0586
• pmtcards_at_indiana.edu
• Cheryl L. Shifflett, AAP, CTP
• Associate Director, e-Business Operations
• 812-855-6465
• cshiffl_at_indiana.edu
• Kim L. Stuart, CTP
• Manager, e-Business Support
• 812-856-5838
• klstuart_at_indiana.edu