Power of PAYBOX®
Reverse Lockbox Solution
PAYBOX® provides electronic invoice presentment and payment for bank lockbox providers.
Every day, declining check volumes and the growth of electronic invoicing and payments chips away at the trillion-dollar business that banks have built in lockbox processing.
PAYBOX® helps banks grow – and not just preserve – their lockbox business with PAYBOX®.
- Invoice presentment: enabling billers to post invoices to a secure website. Payers then access their invoices via a password-protected mailbox.
- Adjustments and approvals: the platform replicates a payer’s workflow to allow for online review, adjustment and approval of invoices. Billers receive real-time updates on adjusted invoices for faster resolution.
- E-Payments: the platform enables payers to control the amount they pay, the payment type, and the settlement date. Combining invoice presentment and approval and payment in a single platform can drive p-card issuance and utilization – a key benefit for banks.
- AR integration: the platform provides a remittance file for reconciliation and posting.
PAYBOX® integrates with legacy lockbox and treasury systems to provide an important building block for a bank’s integrated receivables strategy. And PAYBOX® is also a best-in-class e-invoicing solution.
PAYBOX® helps banks extend the value of their lockbox services through:
- Stronger customer relationships
- New treasury revenue streams
- Increased card volumes and higher revenues from interchange fees
- Opportunities for lucrative supply chain financing
PAYBOX® delivers the benefits that corporate AR professionals are desperate for:
- Up to 80 percent improvement in Days Sales Outstanding (DSO)
- More than 90 percent reduction in invoice presentment and collection costs
- Straight-through receivables posting rates of more than 80 percent
Move your lockbox business forward with PAYBOX®. E-mail firstname.lastname@example.org to arrange a private demonstration.
For more information about PAYBOX®, click here.