For most businesses, improving cash flow starts with improving collections. The primary goal of these services is to expedite or simplify the flow of funds into your operating accounts. We offer:
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Lockbox is a widely used cash management tool for speeding up the collection of accounts receivable and maximizing available cash. The Wholesale version of the service is well suited to high-value payments (such as company-to-company payments), while Retail Lockbox can accommodate high volumes of consumer payments. The use of centralized mail hubs across the country results in faster deliver for mailed payments; since the payments arrive sooner, you have use of your cash more quickly.
Other benefits of lockbox can include:
Note: ACH is addressed here as a Collections & Receivables tool. ACH is also used as a Disbursements and Payable tool, so you will find further discussion about ACH in that section.
Using the Automated Clearing House (ACH) can streamline your process for collecting payments, often at a lower overall cost than other collection methods. ACH benefits also include better control of payment timing, greater payment reliability and more accurate cash forecasting. The most common collection applications for ACH are:
There are two ways to originate ACH payments for collection purposes:
Whether you use Treasury Solution's ACH module or direct transmission, your access to the Automated Clearing House lets you concentrate deposits from your accounts at other banks or collect recurring payments from your customers.