RDC 2.0: How North American SMBs Could Save More than $1.3 Billion in Lockbox Fees


This e-book will walk you through the options for processing checks on the parameters of processing cost, check float reduction and resource requirement.

Contents

Chapter 01

Executive Summary

Chapter 02

Key Challenges in Check Processing

Chapter 03

Options Available for Check Payment Processing

Chapter 04

Remote Deposit Capture 2.0: Next Generation Remote Deposit Capture

Chapter 05

RDC 2.0 vs. RDC vs. Lockbox vs. Traditional Processing

Chapter 06

6. Case Study: The Sysco Story

Chapter 07

About HighRadius
Chapter 01

Executive Summary


The most powerful trend in B2B payments is the rampant adoption of e-payments. Buyers are spoilt for choice when it comes to choosing a form of e-payment between ACH, credit cards and Wire payments.

What is difficult to digest is that paper checks continue to dominate the payments landscape (48% of volume) and this dominance is larger for payments coming in from small and mid-sized businesses.

Pie chart for payment mix of 2017

Many studies indicate that for A/R teams at small and mid-sized businesses, the volume of incoming paper checks amounts to a whopping 75%!

This leaves SMBs in a dilemma since they only have three choices – either do everything manually, use Remote Deposit Capture (RDC) solutions, or pay for expensive lockbox services

This e-book walks through a close examination of all these options and also evaluates RDC 2.0 – a next-gen RDC which is capable of enabling check deposit to the bank as well as straight-through reconciliation of payments.