Wasted time and money from paper files always seem to find a way back to your business. Regardless of how hard you work to eliminate them. One struggle for many businesses is working with clients that still use paper checks.
One of the most common ways large businesses handle this problem is through a lockbox- A PO box that is traditionally only available through a bank. Available for firms doing a very high volume of inbound check processing.
With FINSYNC, small and mid-sized businesses can benefit from a lockbox. They are able to receive checks and have them automatically deposited and applied to the correct invoice. FINSYNC’s Lockbox service provides huge time savings. Users can work abroad and still get paid. It also allows companies to be completely digital even if their customers are old school.
B2B Paper Checks are Still Common
While Europe and Latin America have various standards that make B2B paper checks less common, they are still common in the United States. This means that many businesses are forced to wait on “snail mail” to receive and process multiple checks, even if they operate under a paperless business model.
You could utilize a lockbox through your bank, but those services are typically only offered at offsite processing centers and available to enterprise-level clients.
FINSYNC’s Lockbox is Available to Clients of All Shapes and Sizes
FINSYNC’s lockbox is available to clients of any size and allows digital firms to work with traditional businesses. With lockbox, digital firms can easily have checks collected from traditional businesses and match deposits to invoicing.
Simply request a payment using FINSYNC to give your customers a simpler, more secure way to pay you via bank draft (ACH), debit or credit card, or paper check sent to your FINSYNC PO Box (lockbox). Your customers will have their own free, secure payment inbox to review and accept your invoices and attachments and pay online.
Forward Thinking Companies Use FINSYNC
“Going green” is all the rage these days. As more and more companies turn to third-party payment processing and paperless offices, many businesses still need a way to collect and process paper checks from traditional clients.
Lockbox by FINSYNC enables businesses to:
• Easily send invoices and attachments
• Know when and how much you’ll get paid
• Accept every customer payment format
• View real-time status of invoices and payments
• Incentivize early payments with discounts and rebates
• Streamline by allowing customers to store banking info online
• Receive paid invoice funds directly in your synced bank account
Check out the top reasons why you should consider FINSYNC for managing your business finances.
Benefits of Lockbox
With FINSYNC, your business can save thousands of dollars and hundreds of hours in admin time each year. Lockbox is designed to help you streamline your financial operations and run a paperless office.
With Lockbox enabled, any customer who desires to pay by mail will see your Lockbox address on your invoices in their inbox as your remittance address. When a check arrives in your Lockbox, it is deposited into your default income account.
With Lockbox, it doesn’t matter if you work in the gig economy, you’re a digital nomad, or you work with corporate clients in the U.S.. You can receive checks from businesses in the U.S. no matter where you are in the world.
FINSYNC Lockbox and accounts receivable help you get in sync with your customers and get paid more quickly and efficiently. Lockbox is a win-win for both you and your clients. The software makes it simple to pay and get paid. In addition, it eliminates the need to pay someone to go to the mailbox and keep track of physical invoices.
Lockbox allows invoices to be sent immediately and get paid as soon as you receive your check. Allowing you to manage your small business finances in a single platform. It enables you to sync up your small business finances and harness the power of your financial data to give you a complete picture of your business.
If you’re a digital firm looking for ways to receive paper bills and convert them into e-bills, FINSYNC’s Lockbox service is an easy-to-use solution.
How FINSYNC Can Help
FINSYNC allows you to run your business on One Platform. You can send and receive payments, process payroll, automate accounting, and manage cash flow. To learn more about how we can help your business start, scale, and succeed, contact us today.