Lockbox Reconciliation Transactions 
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.
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 Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.
PYMNTS
APRIL 7, 2020
The program, called OneStream Transaction Matching, will work to let companies collect and match large amounts of transactions from numerous sources, enabling the companies to quickly resolve any confusion. The Transaction Matching software goes hand-in-hand with OneStream’s existing Account Reconciliation.
PYMNTS
OCTOBER 22, 2020
For businesses managing tens of thousands of transactions every month, manually sifting through email inboxes to match remittance data with bank account information is a massive point of friction. A real-time transaction may be more predictable, but it doesn't address the issues of cost and interoperability, said Lane. Going Public.
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.
PYMNTS
OCTOBER 2, 2019
It’s become commonplace, he said, for consumers to expect peer-to-peer (P2P) transactions to be conducted with lightning speed — whether during a dinner outing, paying for a babysitter or paying the lawn care service. One desire of those corporates — in B2B, or even in C2B — is to avoid having to pay interchange fees on transactions, he said.
PYMNTS
JANUARY 22, 2021
Adding to the headache is the sector's typical burden of a high volume of transactions that flow via legacy and paper-based processes. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. Prioritizing Data Connectivity.
Expert insights. Personalized for you.
80 
Let's personalize your content