Integrated
Receivables

What is Integrated Receivables?

Integrated Receivables solutions eliminate the day-to-day roadblocks that make it near-impossible to improve access to working capital and better manage liquidity. The solution automates payment processing to increase straight-through-processing (STP) across all payment channels and accelerate the application of cash to the balance sheet.

Decentralization has made a mess of A/R

Proliferation of payment channels. Declining B2B check payments. Industry gravitation toward electronic payments such as ACH. These industry trends and more are the driving forces behind today’s receivables management challenges. The difficulty of receivables processing cuts across all companies, from small commercial to the largest multi-billion enterprise.

Corporations have sought a way to improve their payment and invoice matching solutions for all payment streams, particularly for new electronic streams. Most importantly, they are in need of an end-to-end solution that matches remittance data to electronic payments.

Today, corporations receive payments without remittance details and then must manually find the remittance detail in separate systems, such as email. This can waste valuable person-hours, delay cash application and result in errors.

Inability to support new billing or payment methods
Inability to support new billing or payment methods

Fragmented, understaffed teams and functions
Fragmented, understaffed teams and functions

Difficulty forecasting and planning for working capital shortfalls and surpluses
Difficulty forecasting and planning for working capital shortfalls and surpluses

Slow cash application resulting in increased DSO and decreased STP
Slow cash application resulting in increased DSO and decreased STP

Unhappy customers due to poor billing and paying experience
Unhappy customers due to poor billing and paying experience

Deluxe’s Integrated Receivables Solution Can Help

Our Integrated Receivables solution makes it possible for a corporation to:

  1. Receive payments of any type (paper or electronic), from any source.
  2. Leverage artificial intelligence and machine learning to automate cash application.
  3. Gain integrated insights from a single portal that can be customized for everyone from a CFO to an operations supervisor to make real-time business decisions.

How Does Integrated Receivables Work?

Integrated Receivables solutions eliminate repetitive, manual workflows, automatically apply business rules, and solve the key pain points in posting paper and electronic payments. The end result is enhanced visibility into all incoming payment information in a single location. The technology normalizes data across all payment types and can provide comprehensive reporting and analysis. The solution’s robust technology helps organizations achieve fully automated payment processing from start to finish.

Remote Deposit Capture & Aggregation


Capture and aggregate payments and documentation including mobile devices, in-house or third party lockbox, ACH, Wire, EDI, credit card and more. Digitize customer correspondence and supporting documentation and combine information from all sources, paper and electronic, into one view that spans the organization.

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Remittance Processing & Intelligent Matching


Artificial Intelligence, machine-learning, and sophisticated algorithms automate matching of electronic ACH payments to open invoices to speed cash application and achieve higher rates of straight-through processing.

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Research & Analytics


Google-like search tools help manage change-of-address requests and allow for the look-up of payment status (paid, unpaid, rejected) and associated information and documentation, including customer correspondence. Consolidated data streamlines customer support, allowing for an improved customer experience. Customizable dashboards can also be configured for ease of use by any member of your team within a single portal to help make real-time business decisions.

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Leveraging Artificial Intelligence & Machine Learning for Faster Cash Application

As more payments move to ACH, posting them has become more manual instead of automated. What was thought to be a tool for increasing payments speed has turned into something that isn’t so straightforward. While funds arrive electronically, critical payment information may arrive separately via email, postal mail, web portal, fax or other means. This causes additional research time to locate missing data in emails and manually update ERP systems—creating unnecessary duplicate work and slowing the receivables process. Deluxe’s IR solution can read ACH remittances exactly like all other remittance documents, with no time-consuming, manual “template-learning” process that is required by many other solutions in the market today. With Deluxe’s advanced remittance processing and intelligent matching, the payment is matched with the invoice remittance details electronically, using machine learning and sophisticated algorithms, resulting in greater straight-through processing rates, cost reduction and faster cash application.

Benefits of Integrated Receivables

Efficiency:

A modern user interface with a consolidated dashboard, reporting, and sophisticated drill-down search capabilities all eliminate the need to log into multiple, disparate portals to research original payment information.

Risk Reduction:

Real-time receivables insights enhances visibility, allowing for easier, faster identification of risk and enhanced credit risk management.

Strategic Flexibility:

Integrate multiple ERP platforms and newly acquired entities while supporting enterprise efficiency goals and improving ability to factor receivables as an alternative funding source.

Revenue Lift:

Accommodate changing payment preferences, free up constrained credit lines with faster application of cash, and focus on technology to improve customer service.

The Value of Integrated Receivables

Integrated Receivables solutions uniquely address the many challenges that businesses face, including: high costs, ever-increasing demands for greater business intelligence, the migration to electronic payments and remittances, and concerns about customer impact.

Most importantly, IR solutions enable corporations to focus on strategic initiatives rather than day-to-day challenges by automating what used to be a manual and time-consuming cash application process.

Insight to business decisions
Insight to business decisions

Dashboard with drill-down capabilities for additional details on batches and transactions with just one click

Alerts for when large payments or payments from specific payers arrive
Alerts for when large payments or payments from specific payers arrive

Alert manager with ability to select users as recipients for better payer monitoring and liquidity management

Post A/R faster
Post A/R faster

Extract Design Manager & Scheduler automates the posting process and works seamlessly with your ERP system for on the spot downloads

Tools for faster visibility
Tools for faster visibility

Outside information and reports can be brought into the system to help manage working capital and influence business decisions

Improve customer service
Improve customer service

Ad-hoc search tools provide visibility into all payment sources from a single portal without having to ask clients how or when they paid

Avoid manual keying
Avoid manual keying

Payment Reassociation and Invoice Matching replaces hours of manual cash application with AI and machine learning for faster and more accurate processing

Create reports
Create reports

Advanced search tools provide the ability to create custom reports you can edit and download easily as a PDF, CSV or zip file

Building Your IR Roadmap to Best-in-Class

Most corporations today are operating at the Ad-Hoc stage for their receivables processing. In a recent Aite Group report, 67% of corporate users report running more than one enterprise resource planning (ERP) system, and 34% admit to being dependent on Excel spreadsheets to consolidate receivables information and manage cash.

Deluxe understands that while every client’s goal will be improved STP or reduced DSO, each organization’s IR journey will be different. All of our clients vary in the maturity of their receivables processes, automation, metrics and governance.

We have the experience and expertise to analyze payment methods, workflows, technology, and more to determine what ‘stage’ of journey our clients will start and help them build a successful integrated receivables strategy and roadmap.

Deluxe offers flexible deployment options that encompass in-house, hosted, or BPO environments, allowing for a scalable solution that can process small volumes to millions of transactions per day.

We welcome the opportunity to help you build your integrated receivables roadmap to best-in-class. Our platform and experience will allow your institution to get to market quicker and at a lower price than building in-house.



Ad-Hoc

Ad-Hoc

  • Highly manual
  • No formal model(s)
  • Reliant on people
  • Poor MIS
  • Prone to error

Structured

Structured

  • Some automation
  • Multiple models
  • Greater resiliency
  • Fragmented MIS
  • Reliable but not scalable

Integrated

Integrated

  • Increasing automation
  • Single framework
  • Greater resiliency & governance
  • Integrated MIS
  • Clearer opportunities to scale

Best-in-Class

Best-in-Class

  • Automated, including routine decisions
  • Extensible, self-learning model
  • Self-correcting, self-escalating
  • Contextual insights
  • Optimized for key tradeoffs

Resources

How Integrated Receivables Overcome the Four Biggest Challenges in Order-to-Cash

Integrated Receivables: Making the Case

Claiming Your Strategic Identity in a Crowded Market

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