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Lockbox Best Practices Whitepaper

Colin Graf | Tuesday, June 07, 2016

Lockbox Best Practices Whitepaper

Even though the usage of paper checks as a payment system has plummeted in the U.S. from 40 billion transactions in 2000 to less than 20 billion during the last Triennial Federal Reserve Payments Study, that's still 20 billion transactions that cause a lot of headaches.

Paper checks account for 20-30% of remittances, particularly in large volumes. If you receive over 1,000 paper checks per month, processing them efficiently is crucial to healthy cash flow and happy customers (including recurring revenue).

How can you ensure efficient, quality paper remittance processing while keeping costs low? Considering that labor is usually the #1 expense of any organization, outsourcing can be attractive, but who's the right partner?

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