Remove Automation Remove Lockbox Remove Payer
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What ‘Work From Home’ Means For Paper-Based AR Departments

PYMNTS

Lockbox Data Headaches. While working from home can present a major challenge for AR teams receiving checks in the mail, Biegel noted that more often, businesses are accepting these payments via banks’ lockbox services. Automating Lockbox Data – And Beyond. ” asked Biegel.

Lockbox 80
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How Banks Can Benefit From Partnering With FinTechs

PYMNTS

When it comes to treasury market offerings, banks have historically started wholesale and retail lockbox businesses. But, as payment types and payment channels have grown to become more electronic, the amount of lockbox payments is declining rapidly. Most commonly, those payments are sent by automated clearing house (ACH).

Lockbox 68
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How FinTechs Help Corporates With Cash Application Amid COVID-19

PYMNTS

As a result, even firms that have some level of automation need to think creatively. Many companies rely on a bank/service provider to handle outsourced lockbox processing. And, in many cases, the FinTech has customers that still use a lockbox, but they still have some centralized operation that receive checks.

Lockbox 60
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AI Rides To Rescue Of Analog Accounting Processes

PYMNTS

“One of the many challenges faced by companies and corporations is the automation of the processing and application of payments,” he told PYMNTS. All too often, he said, bringing automated payments processes and reconciliation, as well as improved cash collections, are not viewed as offering significant enough returns on investment.

Process 94
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Deluxe CEO: B2B Payments Will See Resurgence In Paper Checks

PYMNTS

In order to spur digital payments to make greater inroads, McCarthy noted that automating back-end processes, particularly in accounts receivable (AR), is critical — and so is ubiquity. That software platform today, on an outsourced basis or with people using that software themselves, is processing about $2.8

Checks 78
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Why Platforms Hold The Key To Igniting ePayables

PYMNTS

percent of survey respondents reporting that they are “very” or “extremely” satisfied with paper checks, it seems like B2B payers really don’t find them to be all that bad. Yes, checks were nearly bottom-of-the-barrel in terms of satisfaction levels, but with 63.5

B2B 57
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Preserving Check Workflows Can Ease B2B Payments Digitization

PYMNTS

According to Reed, Deluxe’s lockbox services process $2 trillion worth of paper check payments every year, and there is no silver bullet to transitioning that volume to electronic payment method all at once. By virtualizing the paper check and wielding API integrations in between payer and recipient, those workflows become smoother.

Checks 67