Lockbox
We are the experts at remittance processing and understand the importance of efficiency and fast accounts receivable posting that produce secure and reliable, high quality lockbox solutions. Whether you have a high volume of retail remittance payments or a lower volume of wholesale remittance payments, our services are customized to fit your exact business needs. Our team of technical remittance specialists deliver real time lockbox service combined with imaging technology and a state-of-the-art Internet based document management system. Although checks continue to decline, the need for improved cash flow does not change, and we are there to help you achieve faster accounts receivable posting while cutting costs by outsourcing in-house operations and manual processing procedures. Our solutions are developed to improve your company’s productivity and positively impact customer service all while saving you the capital investment and resources needed to achieve similar results in your company. When you select Retail Lockbox, Inc. as your remittance processing provider, we guarantee you’ll experience increased savings, improved customer service, and utilize the most innovative solutions available in the industry today.
How does the lockbox process work?
- Your customers’ remittance payments are sent to a specific P.O. box
- Our scheduled couriers sweep the P.O. boxes numerous times on a daily basis and deliver the mail to our location
- Mail is sorted by client and box number, then opened and batched accordingly
- Payments are processed based on the client’s specifications – every client has a customized solution designed to fit their exact business needs
- Remittance data is captured electronically and images are available for review – in a file or online through our secure database
- Payments are encoded and deposited at the selected financial institution of your choice
- A daily file of all remittance payments is uploaded into your accounts receivable system for posting
- Any unprocessed work is sent back to you for further handling and processing
How will you benefit from our services?
Our goal is to take your accounts receivables and process them both accurately and efficiently. We minimize the time and money you spend to process your payments in-house and allow you to focus your resources on other aspects of your business. Our dedicated and experienced team of processors assures you that your funds are being processed securely and accurately. Our goal is to exceed your expectations and ultimately provide you with the confidence and comfort that we are handling your remittance payments and documents in the best way possible.
- Faster processing of payments
- Reduced mail float time and quicker access to funds
- Cost savings of critical resources
- Electronic transmission and ability to easily adapt with multiple payment posting applications
- Accuracy
- Customer service is our standard of excellence
- Reduced expenses
Industries we serve
Our division of lockbox services focuses on customers in the Retail and Wholesale sectors. We serve a wide variety of industries that include:
- Education
- Healthcare
- Government
- Property Management
- Utilities
- Telecommunications
- Financial & Insurance
- Advertising/Marketing
Our customers differ in the number of transactions and dollars we process on a daily basis – there is no job essentially too large or too small for us, and we welcome business both in and outside of the Northwest.
