UPExchange is the only system ever endorsed by NAUPA* and currently helps more than 35,000 companies automate unclaimed property reporting with state sponsored regulatory changes and accuracy. But those aren’t the only things that make it the best unclaimed property reporting system on the market. There also are these things to consider:
• It’s accessible from anywhere with a browser and sends reports and payments to multiple states online. It can be configured with all the fundamental capabilities unclaimed property professionals expect — importing unclaimed property records while checking for errors, calculating dormancy requirements by state by property type, producing search letters, documenting due diligence activities, creating reports to each states specifications, and more.
• It’s delivered from the cloud, so IT can focus on improving the day-to-day technical operations of the business, eliminating the need to purchase, implement, provision, host, manage, and support 3rd-party software.
• It uses real-time database protection, monitoring, auditing, and breach-prevention that follow PCI-DSS and SSAE 16 best practices.
• It accelerates time-to-value with rapid implementation, data conversion, simplicity, and economy. You can also choose to outsource due diligence/search letters and/or reporting processes to our team of compliance professionals. Either way, productivity and ROI are accelerated with a flexible approach that helps you match value and price.
Improved Fundamentals
Each of the 50 US states — plus the District of Columbia; the Canadian provinces of Quebec, British Columbia, and Alberta; the US Virgin Islands; and the Commonwealth of Puerto Rico — have unclaimed property programs, each with its own dormancy periods, due diligence requirements, aggregate thresholds, property codes, relationship codes, filing dates, and reporting formats that change an average of 1,650 times each year. We apply all updates as received and while you sleep so you’ll always have the most up-to-date rules to precisely meet each state’s reporting requirements.
UPExchange easily converts data from older unclaimed property systems. It alerts you when letters and reports are due or dormancy laws change. It lets you use Excel to update your records, build custom reports, and forecast future liabilities. It lets you use Word for search-letter customization. Its viewable audit trail shows who changed what and when. It securely stores reporting histories to comply with state records retention laws. It uses state exemptions to reduce liabilities. It allows claimants to initiate claims online. It views and saves report coversheets in PDF. And the list goes on.
IT Friendly
UPExchange places no demands on your IT team. Cloud delivery allows you to pay an affordable subscription rate and to receive enterprise-class software as a fully managed service. There’s no technology infrastructure or application environment for IT to support. Use of the software, support, and access to all upgrades, patches, and service packs are all inclusive. This allows IT to focus on strategic areas of your business in which their technical knowledge can be put to the highest and most valuable use.
Security and Privacy
UPExchange meets a wide variety of compliance directives. Our SSAE 16 certified data center partner provides 24/7 managed security services. PCI DSS (Payment Card Industry Data Security Standard) vulnerability scans are conducted, and verified, daily. Sensitive data is encrypted while at rest and in transit. All database activities, including privileged users with local access, are monitored and audited. Breach-prevention capabilities, using our real-time intrusion protection system (IPS), identify, log, stop, and report all unusual activity.
Value for Business
With flexible monthly and annual subscriptions available, you have considerably more power and control compared to a traditional software license model. With UPExchange, you pay only for what you use withno hidden costs, so the total cost of ownership is known in advance and is, by definition, lower. Zero infrastructure costs, coupled with speedy deployment of upgrades and state requirement changes, speeds time-to-value. And if you’re intrigued by the possibility of outsourcing your unclaimed property compliance obligations, all of these savings are factored in, as well.
Either way, value and price meet at UPExchange.
*NAUPA’s endorsement pertains to the free holder-reporting software. Neither NAUPA nor its member states endorse any other products or services available to holders through ETM.
