Banks understand how valuable their small and mid-market business customers are to their overall profitability. A product that addresses a need in this market segment will help retain or gain these important customers.

Accounts Payable is a proven inefficient and paper-intensive process. Perhaps that's why a recent study showed that 67% of businesses in the 1m-4.9m range, and 76% in the 5m-9.9m range, said they had a strong interest in an electronic payments solution.

Treasury Management products are a proven way to help retain those customer balances at your bank. Products like Lockbox and Remote Deposit Capture have successfully reduced costs and solved inefficiences on the receivables side for years. It's time for a similar solution on the payables side.

A bank can choose to be an early adopter of a treasury management solution like Payables Lockbox, or they can choose to adopt it after it's been commoditized. The illustration below shows the relation between product innovation and product profitability.