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Privilege Underwriters Reciprocal Exchange (PURE)

Hands-off fraud protection

On a typical day, Privilege Underwriters Reciprocal Exchange (PURE) cuts hundreds of checks to high-net-worth policyholders. After a catastrophe, it cuts thousands of checks a day. Every payment leaving the firm needs fraud protection — without creating administrative work or slowing down payouts.

The Challenge

PURE selected Sage Intacct to optimize its financial management and accounting processes. However, it was going to lose its positive pay solution in the transition. Intacct didn’t have an out-of-the-box component for positive pay, so PURE needed a new fraud solution — and fast. The Intacct rollout was only five months away.

The Solution

PURE had built its legacy positive pay solution, so it knew custom development was an option. But luckily, it didn’t have to. Wipfli’s PositivePay solution is built on Inacct Platform Services and integrates with the cash management module. And it had all the functionality PURE was looking for. PositivePay works with an unlimited number of bank accounts, and check monitoring and reconciliation happen automatically. Suspected fraud is stopped or presented to PURE for a “pay” or “no pay” decision.

We had no idea we’d save money …. Our costs were almost immediately offset.
John Burd Accounting Group Manager at PURE

The results

PositivePay delivered worry-free, hands-off fraud production and a smooth transition, since PURE was able to deploy Sage Intacct and PositivePay together. Check fraud controls are all in one place, and monthly closing activities are streamlined and less stressful for staff. PURE also saved money. PositivePay eliminated the need for manual check voids and their associated costs, which were around $35 apiece.