Do your customers mail payments to you? Do you ever hold checks over a day or two because your staff doesn’t have time to process them? What does it cost your organization to process a single customer (check) payment? What is Lock-Box Processing? Apogee’s Lock-Box processing service is a cost-effective automated system designed to capture incoming customer (check) payments for your organization. Processing provided by Apogee will update your bank and receivable accounts daily providing an efficient means of capturing your customer payments. The objective of Lock-Box processing is to convert receivables into cash as fast as possible. Apogee Electronic Services’ Lock-Box processing combines speed, service and quality to give you a premier collection system. The benefits of a Lock-Box processing service are:
As an organization grows, the volume of check-payments it must process also grows. Manual systems of collecting check-payments are labor-intensive and antiquated. Manual systems are easily justified when dealing with small volumes. However, as volumes increase organizations find it increasingly difficult to manage their account receivables due to inherent problems such as misplaced payments, misapplied payments, missed deposit deadlines, employee absences, employee dishonesty and equipment downtime. And, let’s not forget to factor costs such as equipment purchases, equipment total cost of ownership, floor space and payroll. Imagine a cost-effective system designed to eliminate these processes and headaches from your organization, one that allows you to concentrate on what you do best! A system that provides an audit trail, automated transmission of daily accounts receivable updates, customizable reports, timely deposit of funds, reduced payroll, and improved research capabilities such as scanned image archiving and on-line research all which result in a more efficient accounting and customer service department within your organization. We Offer the Following Types of Lock-Box Processing:
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