eLockbox Pro Electronic Receivables Processing Services
For Utility Companies and Other Billers
eLockbox Pro is an ideal receivables solution for billers of all kinds. Make it easier on your customers to pay for the goods and services you offer. Remember, when your customer pays their bill via their bank’s online bill pay site, a check is typically generated and can take up to 5-7 days before you receive their payment.
eLockbox Pro will greatly enhance the payment process. In most cases, if a customer initiates an online bill payment through their bank, the payment will be made next the day via funds transfer right into your organization’s bank.
Does your accounting staff spend valuable time posting customer payments? With eLockbox Pro, we help to eliminate manual payment posting. Each day Mid-South Imaging will provide you with an e-mail that contains a customized posting file that can be imported into your utility billing software for payment posting. No more manual posting!
For Banks That Offer Lockbox Services
If your bank offers Lockbox services but does not process biller payments that come from check originators, such as CheckFree, Metavante, iPay, etc., eLockbox Pro can work for you.
Mid-South Imaging offers eLockbox Pro as a licensed product to be installed on your bank’s server. You will be able to accept proprietary files from the check originators mentioned above, parse the payments according to lockbox billers, generate daily e-mails that include a .pdf detail report of the previous day’s payments & a customized posting file for your biller.
Some banks have invested enormous amounts of money either paying for this module offered by a remittance processing software provider, or by having in-house programmers write a program to process those payments. Mid-South Imaging has developed this program and now makes it available to banks.
In difficult economic times and ever-changing regulatory requirements, financial institutions are looking for more ways to generate new fee income. This service is needed by billers and they will pay for it if they see where it can save their department time and money. Now you can offer this service to your commercial accounts.
Let Mid-South Imaging show your bank how we can increase revenues and offer additional services to your Treasury Management department.
Call us today for more information!