Power of PAYBOX®
New Celent Report Confirms Rising Bank Demand for Integrated Receivables Management Solutions
A new report by leading banking research and advisory firm Celent confirms what Direct Insite is experiencing: rising bank demand for integrated receivables management solutions.
“The slow but steady growth in electronic business-to-business payments has brought burdensome reconciliation challenges for businesses. This has not gone unnoticed by banks,” says Bob Meara, a senior analyst with Celent’s Banking practice and coauthor of the report. “Large banks in particular show strong interest in delivering enhanced receivables management capability.”
Celent’s research shows that banks are looking for integrated receivables solutions that provide the following capabilities:
- Extraction, translation and upload of payment and remittance files from multiple payment and remittance channels to provide a consolidated file for posting
- A single portal to view, analyze, post and report on consolidated receivables
- A single workflow to resolve exceptions to maximize straight-through posting
- Rich analytics and reporting to identify ongoing problems
Direct Insite’s PAYBOX platform provides banks with a private-labeled solution that delivers all of these capabilities. It’s for this reason Celent ranked PAYBOX among the leading integrated receivables management solutions evaluated for its report.
PAYBOX combines advanced functionality for invoice presentment (via electronic invoice, paper or accounts payable network), online approvals and adjustments, electronic payments, and integrated with any legacy lockbox, accounting or enterprise resource planning (ERP) system.
For this reason, PAYBOX is the ideal starting point for a bank’s integrated receivables strategy.
To arrange a demonstration of Direct Insite’s PAYBOX solution, e-mail firstname.lastname@example.org.
For more information on Celent’s integrated receivables report, click here.