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