Remove Checks Remove Lockbox Remove Reconciliation
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What ‘Work From Home’ Means For Paper-Based AR Departments

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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
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How AR Can Usher The Legacy Lockbox Into The Digital Age

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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
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Preserving Check Workflows Can Ease B2B Payments Digitization

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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. “Checks will be around for a while. Preserving Check Workflows.

Checks 67
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Billtrust CEO On Delivering The Perfect B2B Payment

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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
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Commercial Cards: It’s All About The Data

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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.

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Payments’ Role In The Fourth Industrial Revolution

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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
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Why The Time Is Right For Banks To Offer Integrated Receivables

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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.