SHOREVIEW, Minn.–(BUSINESS WIRE)–Deluxe Treasury Management Solutions today announced the latest addition
to its receivables management suite of services by enhancing its
receivables automation with new payment re-association technology.
A market leader with best-in-class lockbox, integrated receivables and
remote deposit capture solutions, Deluxe Treasury Management Solutions
can now offer financial institutions and corporate customers payment
re-association capabilities to automate difficult invoice matching
scenarios virtually eliminating exceptions from the process.
“Clients need ways to improve their payment and invoice matching
solutions for all payment streams, particularly electronic,” explained
Gary Cawthorne, vice president of Deluxe Treasury Management Solutions.
“We’ve enhanced our receivables automation with new payment
re-association technology to help our clients keep staffing costs down
and dramatically save on processing time, even as their payments volume
grows and the mix changes. Now, clients can improve their straight
through processing rates by as much as 95 percent using our end-to-end
payments solution.”
With most electronic payment systems, customers receive payments without
remittance details and then must manually find the remittance detail in
separate systems like email. This can waste valuable person-hours, delay
cash application and result in errors.
The Deluxe Treasury Management Solutions team has been working closely
with customers for decades, further enhancing and advancing receivables
management capabilities, continuing the company’s best-of-breed
strategy. This enhanced technology matches the payment with the invoice
remittance details electronically using machine learning and
sophisticated algorithms, resulting in greater straight-through
processing rates and cost reductions. This end-to-end solution provides
improved visibility across the payment lifecycle, giving clients faster
access to cash while improving customer support across the board.
Deluxe Corporation announced the Deluxe Treasury Management Solutions
brand on Oct. 12, 2017 as a holistic offering of products and services
for customers. Since acquiring WAUSAU in 2014, Deluxe Treasury
Management Solutions has been focused on deepening its capabilities and
expertise in treasury management, adding FISC Financial Solutions, Data
Support Systems and RDM Corporation to the offering portfolio.
“We are continually applying new technology to provide straight-through
payment solutions, from start to finish,” Cawthorne said. “Adding
payment re-association to our market leading receivables management
technologies automates processing before items become exceptions.
“Adding the payment re-association is a critical function for our
clients. Overall, we have improved our solutions to better meet our
clients’ needs, all under one roof,” he said. “This addition cements our
commitment to the treasury management and payments space.”
About Deluxe Corporation
Deluxe is a growth engine for small businesses and financial
institutions. Nearly 4.4 million small business customers access
Deluxe’s wide range of products and services, including customized
checks and forms, as well as website development and hosting, email
marketing, social media, search engine optimization and logo design. For
our approximately 5,600 financial institution customers, Deluxe offers
industry-leading programs in checks, fraud prevention, data driven
marketing, treasury management solutions and digital engagement. Deluxe
is also a leading provider of checks and accessories sold directly to
consumers. For more information, visit us at www.deluxe.com,
www.facebook.com/deluxecorp
or www.twitter.com/deluxecorp.