A lockbox payment refers to a financial arrangement where a company directs its customers to send payments to a designated post office box. The bank then collects these payments on behalf of the company, deposits them into the company’s account, and processes them efficiently. This method helps businesses streamline cash flow management by reducing the time between receiving payments and depositing them, thus improving overall financial operations.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
Recommended Digital Assets for You
Suggested Resources
Gaining Control on Cash Forecasting Using Predictive Analytics
Optimizing your Order-to-Cash Operations to Enhance Working Capital
Automating the Credit Process Transforming to Electronic Credit Department
Data-driven Finance For Your Accounts Receivables Operations
Add AI to Your Order-to-Cash Process
AR Automation for JD EDwards
AR Automation for SAP
AR Automation for Oracle
AR Automation for NetSuite
AR Automation for PeopleSoft
