Do You Know How an Integrated Receivables Solution
Can Help Streamline Your Receivables?
Integrated Receivables: Five Critical Factors for Adoption
Corporations have been slow to adopt comprehensive integrated receivables solutions even though the benefits outweigh the risk. For corporations, adopting an Integrated Receivables (IR) solution would provide many advantages such as:
- Consolidation of incoming payments and remittance details from multiple payment sources such as retail and wholesale lockbox, ACH, EIPP/EBPP, mobile, cards, home banking along with remote deposit capture
- Trend analysis across payment types – providing visibility for better decision making
- Consolidation of internal and external data sources — improving exceptions processing
- Cash acceleration – clear and settle payments with a uniform data stream; and
- Invoice matching, posting – with highly configurable data fields.
In this paper, we outline five critical factors for adopting an Integrated Receivables (IR) solution that you can use to understand how to approach evaluating an IR solution or IR provider.