Receivables Management

Receivables Management

At it's simplest, receivables management means getting the cash owed to you in receivables as quickly as possible. However, in reality, effective receivables management can be a complex process involving knowledge and tasks that are beyond the capabilities of most business owners. Business owners are good at generating revenue, but unless that revenue can quickly be converted to cash, the financial position of the company won't actually improve.

At _________________ Bank, we understand that cash is critical to a growing business, so we are committed to providing our business customers with the latest in cash management technology and services. Our Receivables Management Solutions are based in the most advanced technology to ensure the fast, reliable and secure conversion of your receivables into cash.

The tools available to businesses today fcan streamline the process and reduce the cost and errors associated with paper-based receivables to free management to focus on growing the business.

Our receivables management solutions can help your business

  • Streamline and automate the collections process
  • Accelerate the conversion of revenue into cash on hand
  • Minimize mail and information float
  • Enhance customer relationships and business development
  • Reduce interest expenses on borrowing
  • Generate custom reporting
  • Increase interest earnings from cash on hand

___________________ Receivables Management Solutions

We offer a suite of receivables management solutions that can work for any sized business:

Automated Clearing House Collections (ACH)

In business, there are few things more costly and inefficient than check processing. As a participant in the vast ACH network of financial institutions, ____________ Bank offers an electronic alternative to checks enabling you to receive payments quickly and cost effectively. Electronic collections through ACH can virtually eliminate the hassles, delays, risks, errors and costs associated with paper transactions. Now you can collect payments and turn your receivables into cash more quickly while reducing the resources needed for such a demanding and repetitive process.

With our ACH Collections you can

  • Receive payments directly into your bank account
  • Streamline the collections process
  • Accelerate the conversion of receivables into cash
  • More quickly and efficiently process Internet receivables
  • Set up recurring collections such as bill payments
  • Receive daily reporting

Remote Deposit Services

Now there's no more need for wasteful trips to the bank with the use of our Web-based remote deposit services. Now you can securely send scanned check images directly to your account any time, day or night, from any location where you have access to the Internet. A single check image scanner is provided with the basic service, or you can opt for the high-volume service that allows up to 100 check images to be scanned at a time. Once the images are captured, we verify the total amount and deposit the funds into your account.

With the advent of the Internet and digital technology, the time for remote deposit has come. Money and transactions now move at digital speed, and businesses of any size simply can't afford the delays, costs and hassles of physical deposits.

With Remote Deposit your business can

  • Deposit checks any time from any location
  • Meet early deposit deadlines
  • More quickly respond to returned items
  • Reduce mail float
  • Save labor, fuel and operating costs
  • Enhance customer service

Lockbox Processing

Businesses that receive a large volume of payments or large denomination checks accompanied by remittance documents, a lockbox is essential for streamlining collections and payment processing. Utilizing advanced lockbox technology, ____________ Bank has established multiple communication hubs for businesses to use to receive payments and deposits.

Customer payments are remitted to a post office box in your name and _______________ Bank couriers the day's deposits and communications to its processing center. Their remittance documents are scanned and payment information is captured and clearing updates are transmitted to your accounts receivable. Each night your lockbox data is backed up for secure storage and easy access.

With our lockbox service, there is no need to prepare bank deposits or maintain accounting records as that is done automatically. All checks and documents are imaged for easy access.

With Lockbox processing your business can

  • Substantially lower internal processing costs
  • Speed up collections and convert receivables to cash more quickly
  • Increase control and efficiency through automated processes
  • Greatly improve audit controls
  • Improve data security

Merchant Card Services

It's a foregone conclusion that businesses must be able to accept and process credit and debit card payments if they are going to survive in today's economy. However, accepting credit cards without advanced payment processing technology can still put a choke-hold on your business and hinder its growth. __________________ Bank offers a range of scalable payment processing solutions to fit most any type or size of business, whether you transact commerce on the Internet, on the move or from multiple brick-and-mortar locations. Our point-of-sale terminals and superior processing capacity will enable you to transact business today and have access to your funds within two business days.

With the advent of the Internet, commerce moves at digital speed, and your transactions shouldn't be left behind. With a simple download, any computer or digital device can be converted into a virtual terminal enabling you to take any credit card from any location where there is an internet connection. Verification and approvals are received on the spot for smooth and secure transactions. Your customers will appreciate the convenience of multiple payment choices and you will win their loyalty with a more streamlined payment process.

We'll handle the daily batching of credit receipts for prompt transmission to the issuing bank. You'll receive daily reports of transactions and deposits to your business checking account. With easy exporting of transaction data to your business accounting software there is no need for data input. There are no hidden fees and no long-term contractual requirements.

With our Merchant Card Services you receive

  • A customized payment processing solution to fit your business
  • The latest point-of-sale payment processing equipment
  • Free supplies, i.e., roll paper, printer ink or ribbon, credit slips
  • 24/7 customer service support

Deposit Concentration

For businesses with multiple locations, our deposit concentration service collects separate deposits and combines them so they can be accessed and managed from a centralized account. The banking activities of multiple business units or locations can be monitored and controlled by authorized users while _____________ Bank ensures the efficient transfer of funds via ACH to the concentration account each night. Transfers from the concentration account to the separate depository accounts are processed the same day if requested within normal banking hours.

Businesses can customize deposit data by including origination data such as sales date, quantities sold, etc. Daily reports include a listing of all reporting business units along with deposit amounts and dates.

With our Deposit Concentration account you will be able to

  • Simply and centralize your deposit activity
  • Keep cash from sitting idle in outlying bank branches
  • Increase availability and access to cash reserves
  • Increase visibility and control over company-wide cash flow

Establishing a deposit concentration account is quick and easy. Let one of our Cash Management representatives walk you through the process. Call _________________ or visit one of our branch locations.

Whether you're a small business with low dollar receivables or a large organization with high volume transactions, our experienced staff will work with you to develop the receivables management solution that best fits your business needs. Call _________________ or visit one of our branch locations.