Every organization that receives checks as a form of payment must deal with the burdensome tasks of opening the mail, posting the payments to their Accounts Receivable (A/R) system, preparing bank deposits and actually getting the deposit to their bank. Using the latest check processing technologies, Active Remittance automates payment processing and bank deposit preparation.
Customers control how they remit payments. Payments arrive missing the preprinted account statements, missing account identification numbers or with incorrect payee names. Customers might pay a bill with multiple checks or they might pay multiple statements with one check. These exception payments can account for up to 90% of the payment processing workload. But it is unnecessary.
Active Remittance learns your customers and simplifies exception payments processing. No matter how checks are received, they can be posted quickly with an automated system.
Active Remittance Benefits
Eliminate most manual entry. Active remittance negates most of, if not all, manual data entry in payment processing, with or without invoices and billing statement remittance.
Automated bank deposit preparation. Bank deposits can be automatically generated through the Active Remittance system, letting your staff worry about more important tasks.
Integrates with existing software. By fusing with your existing accounting software, Active Remittance can automatically post payments and update accounts.
Reduce unapplied checks and unnecessary calls. Active Remittance dramatically reduces the number of checks that go unapplied. This has the added benefit of cutting back on collection calls to customers who have already paid.
Improve productivity. With automated check processing, your A/R productivity can improve as much as 70%, freeing up your staff to manage more complex tasks.