Has your wholesale lockbox processing capability kept up with the changing trends in payments?
Paystream Advisors observes ~70% businesses are experiencing an increase in electronic payments (ACH, cards). However, traditional lockbox services continue to focus on processing check remittance information; therefore, corporate customers perceive reduced value from bank lockbox services.
In a commoditized lockbox services market, electronic remittance processing would be a differentiator and help win service revenue lost to third-party remittance processing providers.
Cutting-edge technology is capable of enhancing standard lockbox files by automatically processing remittance information from emails, websites and EDI files. Artificial Intelligence and advances in Robotic Process Automation make this possible without any manual intervention or IT involvement.
Join us, as we explore how you can enhance your lockbox offering, safeguard service revenue by automating electronic remittance processing.
HighRadius eipp software provides tools that automate and speed up invoice communication and facilitate a faster collection of payments, enabling a closer and more convenient relationship with customers. It automates the invoice transmission and payment collection process providing a configurable solution that supports multiple invoice formats and different modes of transmission (fax, email, portal, etc.) depending on the targeted customer, its integration with ERP systems and a rich search capability enables efficient storage and retrieval of past invoices, backup attachments to minimize disputes and short pays. Apart from that it also has some key features that you would not want to miss out: level-III interchange and surcharge; self-service customer portal; invoicing across email, customer portals, post, and fax; advanced deduction management; and lightning e-payments. The result is faster invoicing and payment collection, better customer service, and improved profitability and cash flow.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
