Managing incoming payments from customers can be complex—especially when funds arrive through multiple channels like checks, ACH, wire transfers, and credit cards. This is where Integrated Receivables, a modern cash management product, becomes a game changer for businesses aiming to streamline operations and improve cash flow visibility.
What Is Integrated Receivables?
Integrated Receivables is a cash management solution that consolidates and automates the processing of incoming payments from various sources. It captures, matches, and posts payments to customer accounts in your core business platform or accounting system with minimal manual intervention.
How It Works
Integrated Receivables uses intelligent technology—such as AI, machine learning, and rules-based automation—to:
- Aggregate payments from multiple channels into a single platform.
- Match payments to invoices using remittance data, even when the payment and remittance are received separately.
- Post transactions directly to accounting systems or core business platform.
- Provide real-time dashboards and reporting for improved visibility.
Why It Matters
Businesses using Integrated Receivables benefit in several keyways:
- Faster Cash Application: Automating the matching and posting process significantly reduces manual effort and processing time.
- Improved Accuracy: Reduces errors from manual data entry and mismatched payments.
- Enhanced Cash Flow Visibility: Real-time insights help finance teams make quicker, more informed decisions.
- Lower Operational Costs: Automation means fewer resources needed to manage incoming payments.
Integrated Receivables transforms how businesses handle incoming payments by centralizing and automating the receivables process. The result is a more efficient operation, stronger financial control, and better customer experience. For companies looking to scale or improve their working capital, it’s a smart move toward digital transformation.
Interested in learning more about Integrated Receivables at Horicon Bank? Talk to our Treasury and Commercial Payments Team today!