Traditional remittance processes aren’t efficient. Trips to the post office, manually updating the accounts receivable system, trips to the bank. If you’ve thought there has to be a better way, there is. Lockbox services automate and simplify these processes.
Businesses using lockbox services enjoy:
- Faster payment processing. Minimized mail, processing and deposit time equals improved cash flow. Eligible checks can be converted to electronic transactions to speed collection.
- Improved receivables management. Audit controls, a data file that can upload directly into an accounting system, and minimal delay in payments received and recorded all lead to better receivables management.
- Accurate and timely information. Notification of payments received and deposits processed are provided promptly, allowing immediate visibility to cash flow.
- Efficiency at scale. Lockbox services are designed to process large volumes of payments or checks with large denominations quickly and securely.
Our team welcomes the opportunity to discuss how lockbox services can benefit your business. Give us a call today.