Wausau Financial Systems tracks dollars and cents throughout the enterprise. The Frontenac-owned company provides software (Optima3 IMS) and outsourced information technology services, including systems integration and custom software design, related to payment and transaction processing. It helps customers with check processing, automated clearing house payments, and electronic billing presentment. Customers include financial institutions, government agencies, insurance companies, retailers, and utilities.
Headquartered in Wausau, Wisconsin, Wausau Financial Systems has satellite offices in Massachusetts and Nebraska. Its locations in New Mexico and Washington are closed.
The company's financial systems platforms serve more than 10,000 businesses, including more than 30 Fortune 500 customers. More than 400 of its 650 user sites operate its image-based processing systems, and more than 250 sites use its remittance processing systems.
Sales and Marketing
Wausau Financial Systems uses strategic partnerships to resell its applications. Partners include A2iA, ACI Payment System, Burroughs Payment Systems, Canon Image Formula, CIP, Core, Digital Check, DRS, Dunbar, and Eccho. Kodak is its main channel partner.
While parts of the automated payments services industry are in decline, the company is trying to expand its wholesale lockbox business, and it is targeting banks that have eliminated some, but not all, paper transaction processing from the back offices of their retail businesses, for instance. Wausau Financial Systems has identified paperless loans, new accounts, as well as safety deposit and treasury management as areas of growth for its automated offerings for financial institutions.
The company was founded in 1974. It launched its first check processing system in 1982.