Grow Your Lockbox Franchise with PAYBOX!

On:
Thursday, June 19, 2014

“The future of lockbox is murky.” That was the sobering message that Andy Schmidt, a senior analyst at CEB TowerGroup, told a room full of bankers at a recent industry conference.

Schmidt cited rapidly declining business-to-business check volumes, the limited functionality of check-centric lockbox systems, and new receivables services from non-bank competitors as reasons that banks should be very concerned about the future viability of their lucrative lockbox franchises.

Direct Insite can help banks not only preserve their lockbox franchise, but grow it.

We offer an innovative Reverse Lockbox platform called PAYBOX® that combines e-invoicing, online approvals and dispute management, e-payments, AR integration, and financing options.

PAYBOX® strengthens your bank’s relationships with its lockbox clients by providing a bridge between traditional paper-based lockbox processing and the emerging e-invoicing environment.

PAYBOX® provides other compelling benefits:

  • New revenues of $1 to $2 per e-invoicing transaction
  • Tens of thousands of dollars in immediate operational savings by using the PAYBOX® open receivables file to resolve paper-based lockbox exceptions
  • Higher revenues from interchange fees as more of your clients’ customers pay with p-cards
  • Supply chain financing opportunities that can add millions to your bank’s bottom line
  • Millions of dollars in capital and conversion savings by extending the life of your existing lockbox system with complementary e-invoicing and e-payments capabilities

I would like to arrange a private demonstration to show you firsthand how PAYBOX® can help grow your bank’s lockbox franchise. Please contact me directly at 610-212-2487 or e-mail me at jim.mcshea@directinsite.com to arrange a time when we can meet in-person or via the web.

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