Payables Lockbox addresses the issues of paper invoices, approval routing, and payment
disbursement, therefore significantly reducing the costs for businesses to process
payables.
With Payables Lockbox, receipt, extraction, and sorting of invoices by business
unit is eliminated. 80-100% of the coding is also eliminated.
With paper, reviewing invoices for approval and searching invoices for disputes
is time consuming. Potential for late fees is also increased.
Like traditional bill pay, Payables Lockbox prints and sends payments for you, eliminating
even more labor for you in the process.
If you're dealing with large volumes of invoices, storage for the paper can add
up. Payables Lockbox puts your invoices online, removing this need entirely.
Streamlining and automating your accounts payable process will allow you to take advantage
of vendor discounts more easily.