Automated Accounts Receivable Matching
For many companies, adoption of electronic payments has replaced the need for traditional lockbox services. Bottomline's accounts receivable matching application enables banks to counter declines in this service-related revenue stream with automated cash application services. This enables banks to augment lockbox services by systematically matching incoming remittance detail from lockbox files or credit card processing systems to outstanding invoices.
This innovative accounts receivable matching solution also warehouses and consolidates information for reporting so that business rules can be applied uniformly to open invoices. This allows banks to apply cash more quickly, providing critical payment information for faster access to customer credit information while minimizing the time and errors associated with manual reconciliation.
For more information on our electronic banking applications please contact us.
