PYMNTS

OCTOBER 31, 2019

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. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

APRIL 7, 2020

That will make for much more efficient period-end balances as opposed to the older processes using third-party tools and spreadsheets. Failure to complete those processes correctly could result in issues with reporting and undue write-offs, which can have detrimental effects on a company’s bottom line.

Reconciliation 56

Reconciliation Accounts Automation Lockbox 56

PYMNTS

JANUARY 13, 2021

The paper check, the paper invoice, slow accounts receivable (AR) processes and collecting on aging receivables can be difficult for even the most seasoned AR professionals. No company is really immune to the administrative burden surrounding all those processes that are involved with collections and credit," he said.

Process 94

Process AI Accounts Lockbox 94

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. But very little, if any, thought is given to the downstream implications for the supplier.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

PYMNTS

OCTOBER 22, 2020

As businesses' awareness of these challenges grows, more organizations are looking to not only migrate away from paper, but to also develop B2B payment strategies that include integrated payments for more seamless reconciliation within the ERP, while finding payment methods that work for both the buyer and supplier. Going Public.

B2B 89

B2B Lockbox Remittance Data Payments 89

PYMNTS

JANUARY 22, 2021

Adding to the headache is the sector's typical burden of a high volume of transactions that flow via legacy and paper-based processes. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. Prioritizing Data Connectivity.

Lockbox 74

Lockbox B2B Checks Finance 74

PYMNTS

JULY 22, 2019

While these technology firms may approach a business about a particular financial process that could be improved by electronic payables, for example reconciliation or fraud mitigation, this strategy takes a fragmented approach to encouraging digitization that fails to provide a bigger picture for a company, he said.

B2B 57

B2B Reconciliation Checks Lockbox 57