VisionRemit: Lockbox

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Integrated Retail and Wholesale Lockbox Processing
VisionRemit supports a module which is an integrated platform for processing retail, wholetail and wholesale lockbox transactions, supplemental remittance documents and emerging electronic payment mechanisms such as accounts receivables conversion (ARC), truncation, check image exchange and substitute checks (image replacement documents). By utilizing this single, integrated platform approach, incorporating imaging and recognition technology, your operation will efficiently and effectively process every type of payment.

Processing multiple payment and document types

The unique challenge facing remittance and wholesale lockbox software operations today is the integration of paper and electronic receivables solutions. Check and document imaging are streamlining the traditional paper-based lockbox collection service. Retail items require high-speed, high-volume throughput and special return-check handling, while wholesale items require high-speed forms recognition, complex processing rules and sophisticated handling of exceptions. Only the most state-of-the-art and flexible remittance processing solutions can handle both.

Images and data may be captured and processed from all types of retail, wholesale, electronic payment transactions; as well as supplemental remittance information. This integrated platform reduces exception handling, speeds accounts receivable processing, improves audit control, and reduces credit exposure.

A feature rich solution

VisionRemit leverages technology in both remittance and check processing architecture to deliver the industry’s most comprehensive solution for lockbox receivable processing.

  • Multiple wholesale, OCR wholesale and retail workflows.
  • Easy-to-use GUI box set-up.
  • Comprehensive workflow management.
  • Recognition technologies for checks, coupons and invoices.
  • Complete archive and delivery services.
  • Support for virtually all transports and page scanners.
  • Multiple check presentment options — ACH and truncation.