Receivables: The flip side of the payments coin for every business
Businesses can accept payments in an expanding number of channels, which can lead to headaches in accounting. Being able to efficiently handle receivables in every channel helps maintain a view of funds coming in and supports healthy working capital.
An integrated receivables solution enables businesses to accept most payment methods – check, ACH, credit card, debit card, cash – from any payment channel. Payments can be accepted in person or via mail, lockbox, phone, online or mobile on a single platform that accepts, processes and posts payments with minimal manual intervention. A well-built accounting solution can be developed to handle new payment streams as they’re adopted.
A uniform, consolidated payments data stream provides several benefits:
- Consolidated reporting across payment types – Rather than maintaining reporting across various systems and individual payment types, organizations can capture a consolidated, single view of their receivables, which provides maximum awareness of available receivables throughout the enterprise
