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Poll Highlights Top Capabilities Driving Interest in Integrated Receivables

Tuesday, July 31, 2018 (RemoteDepositCapture.com / RemoteDepositCapture.com)

Latest query highlights appeal of integrated receivables solutions. Capturing, processing and matching payments and related documents, as well as integration with corporate back-end systems, are must haves; lockbox integration less important.
When it comes to integrated receivables solutions, the most sought-after capabilities seem to be the capturing and processing of different types of payments through different channels, integration with corporate back-end systems, and being able to capture, match and archive transaction-related documents. This according to the latest Poll Central query at RemoteDepositCapture.com.
 
Corporate demand for IR solutions has been growing in recent years, due to the proliferation of new electronic payment options along with continued check usage. IR solutions allow businesses to automate and manage through a single platform the acceptance and reconciling of all payments and related documents, regardless of how they are received.  A survey of corporate treasury professionals earlier this year by the consultancy Aite Group revealed over 70% consider it “important” or “extremely important” that their financial services providers offer IR solutions. And as noted in this recent article, at least 4 financial technology companies have IR solutions they are marketing directly to corporations and/or in partnership with financial institutions.
 
RemoteDepositCapture.com conducts polls of members and other visitors on an ongoing basis, and each month features a specific question that visitors are encouraged to cast votes on. This month the featured Poll Central question asked visitors to select the 3 most important capabilities of an IR solution. A total of 134 responses were submitted. As the accompanying chart reveals, the 3 most popular capabilities are: the ability to process check, cash, card and ACH payments, selected by 27% of respondents; data integration with corporate back-end systems (A/R, ERP, CRM, etc.), selected by 23%; and image capture, association and archiving of transaction-related documents, selected by 19% of participants.



 
Among the capabilities deemed of lesser importance was lockbox integration, selected by just 2% of those taking the poll, down from 8% just 2 years ago. “The traditional thinking has been that IR is a great solution for traditional lockbox clients. As the technology continues to improve and costs decline, however, IR becomes attractive not just to the largest companies with lockbox collections, it also becomes an increasingly attractive option for mid-sized businesses that may not even use lockbox services,” said John Leekley, Founder and CEO of RemoteDepositCapture.com. “As this trend continues, FIs serving mid-sized companies should consider developing an IR strategy and related solutions.”
 
A free webinar has been scheduled for today, July 31 that aims to help FIs embark on this strategy development process. Mastering Integrated Receivables: The Climb to Best in Class, will be presented by RemoteDepositCapture.com; Deluxe Treasury Management Solutions is sponsoring the event. The webinar will feature presentations by Leekley, Christine Barry, Aite Group Senior Research Director, Dave Robertson, Managing Director of Deluxe Treasury Management Solutions, and Beth Bourgoin, Product Manager for Deluxe’s Receivables360 solution. Click here to register now for this free webinar.
 
Visit Poll Central Today
The Poll Central question featured in this article has been reset and can now be taken again. Results will be published next year. Click here to vote on the featured Poll Central query for August, if you haven’t already. The featured question is: Which 3 of the RDC capabilities/functionalities listed hold the greatest opportunity for innovation/improvement?

 


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