Corporate customers are ready to invest in receivables efficiency and automation
Corporations of all sizes are struggling. Standalone bank receivables services like lockbox and RDC do a good job of turning paper payments into electronic data, but weren’t designed to take on many incoming, digital data sources. Many organizations are ready to invest in new solutions that solve today’s modern receivables challenges and deliver efficiency, automation and scale.
As traditional treasury management products become commoditized, banks must act quickly to capitalize on this significant market opportunity to better serve their customers. A strong Integrated Receivables (IR) offering introduces new revenue opportunities—and shores up core revenue streams with valued wholesale customers.
The next 18-24 months are critical for banks. Those forward-thinking financial institutions (FIs) that can align leading-edge technical capabilities with each customer’s unique receivables journey will be well positioned for long-term success.
Lockbox and RDC Users Most Fit to Climb
The corporate demand for IR is a great opportunity for banks, but it’s clear that mastering Integrated Receivables takes time—for banks and for businesses. No organization will scale the IR mountain overnight.
According to a recent Aite-Novarica Group survey, businesses report that the biggest hurdle to overcome in adopting new solutions is integration. In fact, 46% said challenges of integrating into existing infrastructure or workflows was one of the top reasons preventing them from launching new payment tools and capabilities.
To read full download the whitepaper:
Mastering Integrated Receivables: The Climb to Best-in-Class