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.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
