Today, electronic payments, such as ACH and Virtual Card make up more than 50 percent of all B2B payments. Moreover, 95 percent of the payment remittance for an electronic payment is sent from the customer to the vendor via email. Banks never see this remittance data. Thus, traditional lockbox services can only go so far in enabling invoices to be cleared and cash to be applied. As a result, most A/R departments are left with the tedious task of hand keying data from these remittance emails into an A/R system to clear the invoices, before the cash can be applied.
The platform is open for anyone in Accounts Receivable. There is no onboarding or implementation required. A clear, transparent, 4-tier pricing structure based on the volume of remittance lines allows users to create an account and start using our A/R Lockbox within minutes. From there, clients simply forward all their remittance emails, and we take care of the rest. There is no setup and maintenance fee. We offer a 30-day trial period, free of charge.
“Wow! Feed this data into our A/R system – a couple of clicks and we are done! I can’t believe it!”
Accounts Receivable Manager
Global Supply Management and Efficiency Company
About OnPay Solutions: OnPay Solutions automates accounts payable and accounts receivable payments in the Cloud allowing clients to move money securely, quickly, and with lower cost. We help companies Make Payments. Receive Payments. Optimize Payments. Anytime.
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SOURCE OnPay Solutions
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