Corporations are eager to further digitize their payment systems. But what can be done for processes that still rely on paper-based checks?
Michael Reed from Deluxe shares answers to these questions:
- Is it possible to seamlessly create an electronic payment for both the payer and the payee so they never have to touch anything from a physical perspective?
- How important is remittance data in commercial lockbox payments?
- How long does the reconciliation process take for payments made to electronic lockboxes?
- Will organizations have to redesign their clearing processes within the lockbox processor?