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The Green Sheet

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Integrated Receivables: The Time for FIs to Act is Now

Thursday, August 02, 2018 ( /

Corporate demand for integrated receivables solutions is a multi-billion dollar market opportunity that financial institutions ignore at their peril.
Corporate order-to-cash (OTC) processes are riddled with inefficiencies and driving demand for integrated receivables solutions. Financial institutions that address this demand with solutions that respond to diverse customer needs will be able to tap into new revenue streams and enhance customer stickiness. This was a key message delivered in a webinar – Mastering Integrated Receivables: The Climb to Best in Class – recorded earlier this week and now available for viewing on-demand at
“Processing receivables is pretty inefficient and corporations are struggling,” said Beth Bourgoin, Recievables360 Product Manager, Deluxe Treasury Management Solutions.
“By not moving quickly, banks are starting to miss out on opportunities,” said Christine Barry, Senior Research Director at Aite Group. “They risk looking dated and out of touch with customer needs.”
Barry and Bourgoin both addressed the webinar, along with John Leekley, Founder and CEO of and Dave Robertson, Managing Director, Deluxe Treasury Management Solutions.
Robertson pointed to an analysis by the treasury consulting firm Treasury Strategies which revealed that corporations spend $115 billion a year on OTC processes. The bulk of that money (77%) is allocated to staffing and professional services, illustrating the need for solutions that automate and provide better decision-level data for receivables management, Robertson explained. Of particular interest to FIs, Robertson noted that only about 8% of that yearly corporate OTC spend goes to FIs.
To date, much momentum toward delivering IR solutions has been from large FIs, and for good reason. “Most FIs can’t afford the multi-million dollar investment required,” explained Leekley. But this is beginning to change, as more financial technology companies come to market with IR solutions. “Just as we saw with the evolution of RDC, we expect to see FIs partner with technology companies to bring integrated receivables solutions to their corporate customers,” Leekley said.
These will not just be solutions for large corporate customers. “I think there’s a larger than expected opportunity among middle market businesses out there,” Leekley said. “There are a lot of opportunities for smaller FIs that have corporate customers of any size.”
However, FIs need to accept that IR is not a one-size-fits-all proposition. “Customers expect customized experiences. They expect their banks to understand their unique needs,” Barry said.
“Mastering integrated receivables is about more than having the right solution. It’s about mastering the process and selling it to clients,” Leekley added.
Mastering Integrated Receivables: The Climb to Best in Class provides expert analyses of corporate demand for IR solutions. Plus it offers insights on developing strategies for addressing the receivables automation requirements of corporate customers and evaluating technology partners. The webinar, sponsored by Deluxe, is available for viewing, free and on demand, at Click here now to learn more about and to watch Mastering Integrated Receivables: The Climb to Best in Class.


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