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Payables Lockbox

Payables Lockbox provides companies access to bill payment functionality for viewing, approving and paying invoices online.

Payables Lockbox

Still dealing with paper invoicing? Spending countless hours on accounts payable? Go paperless and streamline the process with Payables Lockbox from Cadence Bank.

 

Payables Lockbox provides companies access to bill payment functionality for viewing, approving and paying invoices online, thereby streamlining the accounts payment process.

 

Expediting cash flow, enhancing security and building efficiency

 

In the same way that traditional lockbox has offered operational efficiencies and security in handling receivables, Payables Lockbox offers similar benefits in the way vendor invoices are received, approved and ultimately paid through a streamlined workflow.

 

Utilizing our technology, we provide a bill-payment solution built for businesses that addresses every aspect of a business’ invoice payment process – from invoice receipt to payment and posting. If you’re looking to move to a paperless back-office and streamline your A/P process, this is your solution.

 

How Payables Lockbox Works

With payables lockbox, the bank receives and scans your company’s invoices and enters essential information while invoice images are routed electronically for approval decisions. Upon your authorization, payment files are created (e.g., by check or electronically via ACH), posted and merged back into your accounting system each night so you can update your financial records, thus completing the loop.

 

Benefits of Our Lockbox Payment Services

If you take advantage of our Payables Lockbox solution, you’ll be able to:

 

  • Reduce the time it takes back-office staff to manage invoices.
  • Minimize approval hold-ups and funds management issues, which can increase your bottom line.
  • Avoid the consequences when vendors aren’t paid: discontinued service, late fees or bad credit.
  • Decrease accounts payable processing costs by addressing the issues of paper invoices, approval routing and payment disbursement.
  • Discover the many benefits of using Centralization, Automation, Reporting and Security found in our Payables Lockbox service.
  • Integrate our system with your other accounting applications.

 

Interested in learning more about how our payables lockbox solution can help your business? Contact us today to talk to one of our Treasury Management Officer.

 

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