Boston, December 11, 2014 – Regardless of the respective sizes of trading partner companies, the buyer decides when and how to make payment and provide related remittance details, and it may choose to make payment by any instrument or channel. This complex environment creates challenges for U.S. companies' accounts receivable, especially when incoming payments must be applied to multiple invoices. Integrated receivables is a solution that can resolve that dilemma, but what are functionalities required for integrated lockbox, and can banks rely on enhancing lockbox solutions to provide such services?
This Impact Note, based on a 2014 online survey of bank lockbox providers' senior managers, identifies banks' level of interest in and adoption of integrated receivables functionalities and banks' expectations for developing their integrated receivables solutions.
This 27-page Impact Note contains 22 figures. Clients of Aite Group's Wholesale Banking & Payments service can download this report.