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The 'Phantom' is the Batch Updater that operates in the background of the system, updating batches after you have posted them. When it occasionally stops working, for whatever reason, posted batches are queued, awaiting update.

If you notice that your batches are not updating, use this option to see if a queue is building up. The 'Phantom' can be restarted by calling the Help Desk and providing them with your Account Name.