Checks, Reconciliation and Remittance Data

Preserving Check Workflows Can Ease B2B Payments Digitization

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

Checks

Checks B2B Payment APIs and Integration Remote Deposit Capture

Billtrust CEO On Delivering The Perfect B2B Payment

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). And that's just not true.".

B2B

B2B Lockbox Remittance Data Payments

What New Payment Rails Miss About Solving B2B’s Remittance Challenge

PYMNTS

FEBRUARY 25, 2020

One of the biggest points of friction in B2B payments for both buyers and suppliers is capturing information about a transaction, and feeding that data into back-end systems for automated accounting and reconciliation. There’s nothing more valuable than remittance data. This is what businesses are asking for.

Remittance Data

Remittance Data Same Day ACH ACH B2B

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

The Evolving Retailers Fulfillment Strategy: Meeting Demands with Agility

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Commercial Cards: It’s All About The Data

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. The thirst for data among businesses is reaching levels we’ve just never seen before.”.

Commercial Card

Commercial Card Lockbox Reconciliation ACH

How Email, Checks Sabotage Faster Supplier Payments

PYMNTS

JULY 21, 2017

Receivable Savvy’s report found 87 percent of suppliers receive payment via paper check, with ACH coming in second (72 percent) and card in third (61 percent). That’s despite 59 percent of suppliers saying their top preference is ACH, and about a quarter saying they prefer to be paid via check.

Checks

Checks ACH Payments Same Day ACH

Guide to Cash Application Automation Software

EBizCharge

MAY 31, 2024

This mitigates the need for manual data entry or interpretation of remittance advice, allowing for a more accurate and expedient reconciliation process. What is remittance data? Remittance data comes in many forms, such as checks, bank transfers, or electronic remittance formats.

Automation

Automation Remittance Data Correspondent Wire Transfer

How AR Can Usher The Legacy Lockbox Into The Digital Age

PYMNTS

OCTOBER 31, 2019

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. But the tool’s ability to accept data along with a payment (i.e., Just like the check is not going to disappear anytime soon, neither will the lockbox.”.

Lockbox

Lockbox Remittance Data Checks RTP

The Architecture Of Accounts Receivable

PYMNTS

MARCH 3, 2020

Spear explained that in simple transactions, a high volume of low-value purchases often leads a buyer to providing a large lump sum for multiple invoices with limited remittance advice, creating friction for a supplier to understand how to apply that cash to which particular invoices. The Outsourcing Decision.

Accounts

Accounts Reconciliation Underwriting Credit Limit

Moving Data With Money The Key To Faster KYC: identitii

PYMNTS

OCTOBER 26, 2018

For corporates, it’s the remittance detail of a transaction that supports settlement, reconciliation and enhanced data analytics for CFOs and treasurers to gain better insight and visibility into corporate finances. In corporate banking and payments, the challenges that arise can be vast.

Remittance Data

Remittance Data ACH Request for Information RTP

What Is Remittance Advice? Definition, Examples, and Tips to Enhance for Your Company

EBizCharge

JUNE 19, 2024

This notification can come in various forms, such as a letter, an email, or a slip attached to a check. Why is remittance advice important? Remittance advice is critical in financial management for any AR team.

Payer

Payer Reconciliation Correspondent Disputes

Corcentric On Myth-Busting Electronic B2B Payments Adoption

PYMNTS

DECEMBER 20, 2018

While the assumption is that suppliers, especially smaller ones, may lack the resources necessary to adopt ePayments solutions (or are simply too stuck in their old ways to make a change), paper checks remained the most common B2B payment method.

B2B

B2B Push-to-Card Payments Checks

For Insurance, Faster Payments Means Nothing Without Data

PYMNTS

JUNE 29, 2018

B2B payments in the insurance industry suffer from many of the same challenges that other markets do: namely, check-based payments. Of course, checks remain prevalent in this market, says Ben Peters, Chief Operating Officer at insurance payments solutions company VPay. “We see really high adoption of virtual cards.”

Faster Payments

Faster Payments Same Day ACH ACH Remittance Data

In Payments Automation, Don’t Forget Accounts Receivable

PYMNTS

JUNE 22, 2016

. “The root of these inefficiencies is that businesses rely on paper for most of their orders and invoicing, and they receive customer remittance data in inconvenient formats, such as paper, email or fax, that must be rekeyed for reconciliation,” IOFM explained.

Automation

Automation Accounts Payments Disputes

How Virtual Cards Can Live Up To Their Faster Payments Promise

PYMNTS

DECEMBER 5, 2019

Among the most pervasive is that wire, ACH and check acceptance are free, whereas cards, and the interchange fees associated with them, are expensive — particularly when accepting those virtual card payments does not come with a corresponding acceleration of when payments are received.

Faster Payments

Faster Payments Commercial Card ACH Payments

The Canadian Case For ISO 20022

PYMNTS

MARCH 16, 2016

The main drivers behind CPA’s ISO 20022 initiative are to provide the Canadian financial community with enriched, robust remittance data, to enhance domestic and cross-border interoperability and to increase efficiency,” said Mark Brule, director of the CPA’s payments innovations operations.

ISO 20022

ISO 20022 ISOs Message Standards Cross-Border

Payments Space

Preserving Check Workflows Can Ease B2B Payments Digitization

Billtrust CEO On Delivering The Perfect B2B Payment

What New Payment Rails Miss About Solving B2B’s Remittance Challenge

Webinars

Commercial Cards: It’s All About The Data

How Email, Checks Sabotage Faster Supplier Payments

Guide to Cash Application Automation Software

How AR Can Usher The Legacy Lockbox Into The Digital Age

The Architecture Of Accounts Receivable

Moving Data With Money The Key To Faster KYC: identitii

What Is Remittance Advice? Definition, Examples, and Tips to Enhance for Your Company

Corcentric On Myth-Busting Electronic B2B Payments Adoption

For Insurance, Faster Payments Means Nothing Without Data

In Payments Automation, Don’t Forget Accounts Receivable

How Virtual Cards Can Live Up To Their Faster Payments Promise

The Canadian Case For ISO 20022

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