How Receivables Management Works

Multiple Payment Channels

Our Integrated Receivables solution processes every form of payment — paper or electronic — from every location:

• Home office. Payments made at your office never need to leave your office for processing.
• Branch office/cashiering. Integrate your standalone payment systems for greater control and efficiency.
• IVR. Accepting e-checks is a breeze when integrated to a hub for shared processing.
• Internet. Extending payment options to the Internet means faster, more reliable payments.
• Mobile. The latest technology in billing notification and payment initiation not only results in more reliable payments, it generates revenue as well for financial institutions and corporations alike.
• EBPP. Shared business rules and consolidated outputs make processing these ACH payments fast and exception-free.
• EDI. Payment instructions and invoices are efficiently processed and available for posting and research the same day.

And for any payment type:

• Check. Paper checks from any channel are truncated or converted for electronic processing.
• Cash. Cash payments are easily converted to virtual documents for processing and reporting.
• Card. Real-time and offline collection and authorization, across all providers and acquirers.
• ACH. All channels processed, from authorization to returns.

Single Receivables Hub

Our solutions process every kind of receivable in a secure, integrated hub. Automating all imaging, routing and validation, drastically accelerating processing time, the solution reduces both waste and cost.

• Transaction aggregation. A scalable, interoperable database aggregates payments, now sharing a single format and readily available across the workflow.
• Exception handling. Historically the most time-consuming and error-prone operation for receivables organizations, exception payments are available for end-user decisioning the same day, speeding processing from posting to clearing.
• Returns processing. Ending manual data-entry reversals for each payment channel, the hub consolidates returned deposited items into digital workflows.

Consolidated Outputs

Our flexible solution supports many output types for a variety of downstream systems. Best-case routing lowers unit deposit cost and minimizes float. Collection periods improve, and payments clear and post quickly and reliably.

• Exports. Integrates and consolidates scheduled, automated exports to accounting and archive applications for improved posting and customer service processes.
• Extracts. Consolidating all channels, using a single extract file that contains all data and images, reduces time spent updating A/R and eliminates errors related to manual input.
• Posting. From remittance stub to full-page invoice, automated receivables matching ensures speed and accuracy in applying payments to the proper accounts.
• Clearing. With interfaces into all leading clearing and settlement organizations, the solution provides a consistent, reliable process for e-clearing.

Integrated Receivables & Insights

A single dashboard for workflow monitoring, operational statistics, cash position and real-time status integrates consolidated A/R outputs with storage, retrieval and analysis. Encryption technology and advanced authentication provide high security.

• Payment Analytics. A comprehensive database of all payments, regardless of type, with an intuitive Web-based portal, facilitates the conversion of payment information into payment analytics.
• Reporting. Our solution enables flexible reporting, controlled by the client and reducing unnecessary FTE hours.