PYMNTS

MARCH 18, 2020

As Biegel explained, a lack of data standardization across payment tools remains a challenge to the reconciliation and cash application process, even when that data is electronic. Lockbox Data Headaches. Yet payers include a vast array of information with their check payments, and lockbox providers relay that data in different ways.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

OCTOBER 31, 2019

Take the lockbox, for example. It’s a service designed around the ubiquity of the paper check, and with checks still a popular payment tool in B2B transactions, lockbox services remain in high-demand. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

OCTOBER 22, 2020

As businesses' awareness of these challenges grows, more organizations are looking to not only migrate away from paper, but to also develop B2B payment strategies that include integrated payments for more seamless reconciliation within the ERP, while finding payment methods that work for both the buyer and supplier. Going Public.

B2B 89

B2B Lockbox Remittance Data ACH 89

PYMNTS

FEBRUARY 4, 2020

That’s particularly true in accounts receivable (AR), with B2B suppliers not only needing money to flow in from their buyers, but high-quality transaction data for reconciliation, reporting and analytics. A Reconciliation Headache. Data’s Favorite Payment Rails.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

PYMNTS

APRIL 30, 2020

This week’s examination of the latest in payments rails innovation finds financial service providers innovating on top of existing rails to address the friction of ACH, checks and other bank transfer infrastructure. ACH transaction data standardization will also be important for reconciliation and reporting, said Thorness.

Innovation 73

Innovation Global Payments Cross-Border ACH 73

PYMNTS

JULY 22, 2019

While these technology firms may approach a business about a particular financial process that could be improved by electronic payables, for example reconciliation or fraud mitigation, this strategy takes a fragmented approach to encouraging digitization that fails to provide a bigger picture for a company, he said. “I

B2B 57

B2B Reconciliation Checks Lockbox 57

PYMNTS

NOVEMBER 15, 2019

It’s going to be in a format that is very cumbersome for the supplier to bring into their systems,” he noted, adding that lockbox services and manual data entry costs hit businesses hard.

B2B 53

B2B Commercial Card Payments ACH 53