|If your company received 3,000 paper-based lockbox
transactions last month, you could have saved $2,225 -
or $0.75 per transaction.
Manual, paper-based receivables processes — returning checks and documentation from lockboxes, entering accounts receivable data and resolving exceptions — cost your company thousands of dollars each year. Add off-the-books labor, technology, document storage and process redundancy costs, and the spend skyrockets. J.P. Morgan can help you reengineer your receivables processes to reduce expenses and improve access to global information, collection rates, clearing and funds availability.
Image checks and transmit them electronically for clearing as image cash letters rather than deposit cash letters and associated original checks.
Use our easy-to-adopt desktop scanner to capture checks from any geographic location and transmit the images to a central account or multiple accounts.
Use this online bill presentment tool and payment tool to offer customers multiple ways to pay bills electronically, while you accelerate transactions and streamline workflow.
View payment information and images received in your lockbox, as well as electronic payments received via ACH or Fedwire — and upload this data into your A/R system.
Receive same-day provisional credit for in-store cash while protecting against theft and providing added security for employees and cash.
Scan and transmit checks, full-page remittance documents, coupons and envelopes from your desktop and electronically send the images to the lockbox for deposit.