Remove Lockbox Remove Payer Remove Payment Initiation
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What ‘Work From Home’ Means For Paper-Based AR Departments

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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.

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Preserving Check Workflows Can Ease B2B Payments Digitization

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According to Reed, Deluxe’s lockbox services process $2 trillion worth of paper check payments every year, and there is no silver bullet to transitioning that volume to electronic payment method all at once. “It really minimizes the disruption.”

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