PYMNTS

MAY 7, 2020

Although a recent uptick in B2B payments innovation has accelerated corporates’ migration away from the paper check, old habits die hard, and the legacy payment tool remains a mainstay in the accounts payable (AP) department. Preserving Check Workflows. “It really minimizes the disruption.” The One-Off Payment Opportunity.

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

JANUARY 29, 2020

Another major hurdle unique to the purchase-to-pay space is the process’s deep touch points with an array of other back-office functions within the enterprise, including vendor management, product sourcing, accounts payable, accounting, inventory management, contract management, manufacturing and distribution, and more.

P2P 52

P2P Lockbox Payment Reconciliation Value Added Service 52

PYMNTS

NOVEMBER 15, 2019

Traditionally, the cost and administrative burden of card acceptance has kept the tool from gaining traction in accounts payable. 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

PYMNTS

MARCH 18, 2020

With so many processes still based on paper, accounts receivable (AR) departments within organizations that are less advanced in their digitization journeys are facing added friction as workers are sent home. Lockbox Data Headaches. Automating Lockbox Data – And Beyond. ” asked Biegel.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

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

OCTOBER 2, 2019

Kresse attributes this inertia to entrenched processes, both at the enterprise level and within some FIs, especially where lockbox services (including receiving and scanning payments) are large revenue generators. 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

APRIL 30, 2020

ACH transaction data standardization will also be important for reconciliation and reporting, said Thorness. In addition to its new cash application capabilities, accounts receivable technology provider Invoiced recently announced a virtual lockbox solution aimed to address the friction of paper checks.

Innovation 73

Innovation Global Payments Cross-Border ACH 73

PYMNTS

FEBRUARY 22, 2017

Horicon Bank and Financial Transmission Network, better known as FTNI, are partnering up to help streamline the accounts receivable process for corporates. Last year, FTNI announced the launch of its upgraded online payment solution, ETran, which supports corporates’ acceptance and reconciliation of credit card and ACH payments.

Remote Deposit Capture 40

Remote Deposit Capture Online and Mobile Banking Automation Lockbox 40