E-docs UK Introduces New Accounts Receivable Processing Solution

LockBox provides organisations with quicker access to cleared funds, improves cashflow and reduces processing costs by up to 25%

Hoddesdon (I-Newswire) March 8, 2013 - e-docs UK, the leading independent provider of Business Process Optimisation services, has introduced LockBox, a new service that will streamline cheque and remittance processing and deliver significant cost savings. The LockBox service will provide organisations that receive high volumes of cheques in payment for goods and services with quicker access to cleared funds, improve cashflow and reduce processing costs by up to 25%.

The latest data capture software is used to rapidly process remittances with cheques and the proceeds are deposited directly into nominated business accounts the same day. All remittances without cheques are matched to electronic receipts on bank statements allowing the correct allocation of funds within sales ledgers.

Data is output to OneView, e-docs UK’s PCI compliant, web-based repository where customers, using desktop, laptops, tablets and smartphones, have 24/7 secure access to data files, image files and report files that summarise the current day’s banking. Consolidated reporting provides a clear and concise view of all payments received, enabling organisations to make informed and timely financial decisions.

According to Colin Baterip, Managing Director of e-docs UK: “This new LockBox service will enable organisations to reduce their remittance processing costs whilst eliminating the need to invest in expensive and unnecessary hardware and software. It can be scaled to meet the requirements of organisations of every size, regardless of processing volumes, and will deliver significant cost savings.”

Established in 1988, e-docs UK is a leading independent provider of Business Process Optimisation services that give customers greater control over documents and processes along with major improvements in productivity and efficiency. e-docs UK works with some of the world’s largest companies through to smaller SMB enterprises in a wide range of market sectors including logistics, finance, manufacturing and healthcare.