PYMNTS

MARCH 18, 2020

The trend presents a unique conundrum for organizations’ order-to-cash operations, especially when businesses’ own clients continue to pay via paper check : The check may be in the mail, but how can a business apply that cash if there is no one at the office to open it? Lockbox Data Headaches.

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. What is the role of a lockbox today? Modernizing the Lockbox. What is its historical role?

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

OCTOBER 22, 2020

Second, AR professionals working from home could no longer run credit cards from their desks or accept paper checks in the mail. And third, a further slowdown of the postal system added even greater friction to the paper check, leading to longer days sales outstanding (DSO). But further education is needed, said Lane. Going Public.

B2B 89

B2B Lockbox Remittance Data Payments 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. According to Dean M. Data’s Favorite Payment Rails.

Commercial Card 61

Commercial Card Lockbox Reconciliation Push-to-Card 61

PYMNTS

OCTOBER 2, 2019

Commercial payments, for example, have long relied on inefficient practices — like paper stubs that accompany paper checks, or lists of invoices paid and payments allocated to each invoice. Despite that, there is a better option, as roughly 40 percent of B2B payments are still done by paper checks.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

DECEMBER 27, 2018

For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remote deposit capture (RDC). With electronic payments, a corporation might be left with a tedious reconciliation process. But those trends are on the decline, according to Berdan, as more payments become electronic.

Remote Deposit Capture 63

Remote Deposit Capture RDC Lockbox ACH 63

PYMNTS

JANUARY 22, 2021

Like so many other organizations, B2B payments strategies had to be adjusted with personnel who were unable to physically work in an office space to send and receive paper checks. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies.

Lockbox 74

Lockbox B2B Checks Volume 74