Handling payments from consumer bank bill pay sites can be a complicated, time-consuming task. BBVA Compass e-Lockbox lets you fully automate the collection and application of electronic payments. It consolidates payment data into a single electronic file, eliminating paper checks and remittances and greatly reducing the amount of manual exception processing. You’ll save time, increase posting efficiency, and improve cash flow.
BBVA Compass e-Lockbox provides a simple dashboard window connecting you to one of the largest, most comprehensive networks of bank online bill pay services. Your electronic payments can be aggregated into a single daily remittance file for faster posting. Check-and-list items are greatly reduced, saving you the time and cost of manual keying.
An advanced data scrub feature helps identify incorrect payer information and lets you quickly review and repair exception items online for easy updating. Corrections are automatically applied to future billing cycles, reducing the number of exceptions over time. The streamlined workflow helps speed remittances, reducing days sales outstanding and accelerating your availability of funds.
BBVA Compass e-Lockbox helps you eliminate the time and expense of manual processes, improving efficiency and productivity. It seamlessly integrates with your existing receivables and ERP systems, as well, allowing more effective cash forecasting in support of your working capital goals.
Processing electronic payments can require hours of manual work to research, match, and reconcile remittance data to payments. BBVA Compass e-Lockbox lets you automate and streamline these processes, greatly reducing the amount of manual keying. Remittance data is delivered ahead of the payment, allowing you to edit and repair invalid data, issue stop payments, or make other adjustments in advance, helping ensure faster, cleaner remittances to speed cash application.
All accounts and credit are subject to approval including credit approval.