Difficulty making decisions due to lack of immediate access to current information
Previously victimized by fraud and forgery
Too many trips to the bank for making deposits
High staffing expenses for receivables processing
Retail Lock box
Remote Deposit Capture
Too much time spent performing manual reconciliation
Using multiple accounts to separate payments received at different locations
Time lost due to too many trips to the bank
Difficulty making decisions due to lack of information about receipts
How frequently are you bouncing checks in your master account or sub accounts?
How much staff time is spent transferring funds between accounts to ensure clearing checks can be paid?
How often are any of your accounts at a zero balance?
How do you determine the target levels of balances in your accounts?
Under-utilized, excessive cash balances
Slow posting of payments received for previous shipments delays new shipments to customers
Too much time spent researching individual checks
High staff training time due to lack of procedural standardization
Zero balance accounts
Client must supply bank with check issue list
Matches the name of the payee with the name that appears on the check when presented for payment.
Provides a list of exceptions
Lists all unpaid items in check number order
Accelerate and reduce cost of preparing invoices or bills for clients
Accelerate collection of customer payments
Reduce possibility of fraud
Reduce unauthorized spending