Power of PAYBOX®
Reverse Lockbox Whitepaper
Despite the continuing push of companies to eliminate paper processes to reduce costs and support “green” initiatives, the adoption of electronic payments and remittances has been painfully slow.
Corporations frequently blame the stubbornly high percentages of paper payments on the difficulty they have in convincing their customers and suppliers to use electronic payment methods. However, the big culprit in lackluster electronic payments adoption may be the inability of customers and suppliers to provide remittance information electronically, and the lack of integration between back-end systems and electronic payments systems to support the automated upload of remittance data. This whitepaper explains how 'reverse' thinking about receivables improves straight-through processing.
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