How Lockbox Services Reduce Days Sales Outstanding (DSO)
Lockbox services sit at an interesting crossroads in finance. DSO keeps rising across many organizations, and check payments, though shrinking, still account for about 26% of B2B transactions. That mix creates delays that companies can feel in their cash flow. Slow mailrooms, inconsistent deposit routines, and scattered remittance data all drag the payment cycle. Modern […]
Why Lockbox Services Reduce Payment Processing Errors
Manual accounts receivable work tends to fail in the same places: the moment checks and remittance get separated, the moment someone must rekey a reference number, and the moment a payment does not match cleanly to an invoice. Those small slips turn into real operational drag, including misapplied cash, delayed posting, and reconciliation that takes […]
How Lockbox Services Cut A/R Processing Time in Half
The pace of B2B payments keeps shifting, yet one thing hasn’t changed: Checks still slow down accounts receivable (A/R) teams far more than expected. Mail float, manual sorting, and basic data entry add days to the cash cycle. Rising check-fraud attempts make the process even riskier. Lockbox services centralize incoming payments, digitize check data, and […]
Why Early-Year Financial Clean-Up Sets Your Business Up for Success
The beginning of the year has this odd quietness to it. You finally get a moment to breathe after the rush of year-end, and that’s usually when the small issues start to surface. A vendor address that never matched the W-9. A contractor whose TIN hasn’t yet been verified. A December check run that felt […]
Top Red Flags That a Check Might Be Fake (and How to Spot Them)
Fraud isn’t always dramatic. Sometimes it’s a piece of paper or a PDF in your inbox that looks routine. In 2024 alone, the FTC logged more than $12.5 billion in consumer fraud losses, with a significant portion attributed to payment scams. Check fraud remains one of the largest categories. High-resolution printers, stolen account data, and convincing email […]
What Is Lockbox Payment Processing? Why Banks and Businesses Still Rely on It
Checks may seem outdated until you examine the numbers. According to the 2024 AFP Payments Fraud report, approximately 75% of U.S. businesses still accept checks, and nearly 70% stated they do not plan to stop anytime soon. That includes everything from regional hospitals to nationwide B2B firms. Meanwhile, check fraud has surged, with 63% of […]