Meeting the Integrated Receivables Challenge

Wednesday, November 20, 2013

By any measure, payables and receivables processing is becoming an increasingly complex and costly challenge for corporations. It is negatively impacting a variety of things including: operational costs, visibility into financial information, working capital management, and even supplier and customer relationships. One particular challenge for corporations is the inefficiencies associated with processing invoices and payments received from multiple sources, in multiple formats. Corporations need a single platform that brings together all of their payables, receivables and payments information.

Importantly, most U.S. corporations are not fully satisfied with their current receivables processes, according to a 2012 study by Aite Group. Moreover, few companies (29 percent) have deployed an automated receivables management solution, according to a 2011 study sponsored by Esker and conducted by the Institute for Financial Operations (IFO).

Nearly half of the corporations surveyed by Aite Group say financial institutions would be their preferred provider of an integrated receivables platform – solutions that aggregate paper and electronic payments and receivables data, such as that from invoices. Treasury Strategies, Inc. estimates that integrated receivables could generate millions of dollars a year in fees and float for regional banks and tens of millions of dollars a year at financial institutions.

Direct Insite’s white label integrated receivables offering enables financial institutions to expand their treasury services beyond paper lockbox to provide their clients with enhanced receivables and payables services. The white label integrated receivables and payables platform enables financial institutions to offer their corporate clients the ability to generate as well as receive and process electronic invoices and electronic payments. The integrated receivables white label offering is Software-as-a-Service (SAAS), cloud-based, and ERP-agnostic. The platform provides the following key features:

  • Accounts Receivable Electronic Invoice Presentment
  • Accounts Payable Approval Workflow Processing
  • Payment Processing

How It Works:

  1. A Financial Institution signs up for Direct Insite’s White Label Integrated Receivable Platform
  2. A Financial Institution (Treasury Services) client agrees to use the platform
  3. The Financial Institution’s client logs into the Financial Institution-branded PAYBOX® portal to generate and/or process and pay invoices in a secure and efficient environment
  4. The Financial Institution-branded PAYBOX® provides the client (as well as the Financial Institution) with visibility across the customer’s paper and electronic receivables and payables processed using the platform
  5. The PAYBOX® platform provides consolidated outputs and reporting to the client’s ERP, accounting, and other legacy financial systems, as required

Direct Insite experts can help your financial institution extend its treasury management portfolio of services with a single platform for payables, receivables and payments. The combination of Direct Insite’s expertise in financial shared services environments and its invoice-centric e-invoicing solution for AP and AR Transformation can help you speed time-to-market and reduce risk with your integrated receivables initiatives – all while strengthening existing client relationships, increasing revenue, attracting new corporate clients, and creating a platform for future initiatives such as supply chain financing.

For more information, please call 954-510-3750 or e-mail