In the Cloud, Accounts Receivable is a Business Driver, Not Just a Cost Center

Originally published in Financial Operations magazine, Spring 2015 issue.

These days, when it comes to accounts receivable, change is the only constant. In 2013, 50 percent of B2B remittances were made by check—a 75 percent decrease from 2004. With automated AR, mobile purchasing, and web transactions all on the rise, the payments industry is seeing lots of change, and it’s not going to stop any time soon. 

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Topics: Straight Through Processing, integrated receivables

Leveraging RDC to Smooth The Path to Straight Through Processing

Originally published in Payments Business Magazine (May/June 2015 Issue)

Integrated Systems Lead to Faster Reconciliation of Checks, Which Means Lower Costs and Speedier Remittance

I am waiting for the day when I can pay for everything—groceries, trips, my mortgage—by waving my hand over a sensor on my watch. We’re moving in that direction; at some point, as the cost of smart phones drops and the technology for mobile payments catches up to consumers, technology will advance to the point that both making payments and reconciling remittances become swift and painless.

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Topics: Straight Through Processing, check processing, mRDC, RDC, integrated receivables, Check Scanning

Simplifying Receivables in the Cloud: 2 Real-World Examples

US companies are wasting $1 billion each year because their receivables and payment processing systems are siloed and overly complex. It’s a grim picture, and it’s not improving nearly as fast as it could be. In the burgeoning digital age, consumers have come to expect rapid, personalized experiences in every aspect of their lives, from ordering groceries online to paying their bills. Companies, wanting to delight their customers, have responded by adding different platforms to their accounts receivables (AR) systems: ACH, pay by phone, you name it.

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Topics: Straight Through Processing, check processing, RDC, integrated receivables, Remote Deposit Capture

The Payments Solution: Straight Through Processing

Part 2 of the 3-part True Straight Through Blog Series

To sum up the payments problem: Clients are using multiple payment types (check, ACH, credit card) to cater to customers, and they’re using multiple technologies from different third-party vendors (check scanning, auto-ACH, web, mobile) to streamline receivables. The resulting mash-up of different systems and legacy software results in increased complexity, inefficiencies with separate file integrations, reporting, reconciliation points, and costs for maintenance, training, and support. The payments industry has siloed what it wanted to streamline.

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Topics: Straight Through Processing, online payments, mRDC, RDC, integrated receivables

The Payments Problem: Streamlining Has Led to Siloing

Part 1 of the 3-part True Straight Through Blog Series

Here at FTNI, we’ve been in a lot of conversations lately discussing how siloed the payments space has become. With technological advances in mobile and online payments over the last decade, companies have had to stretch their capabilities to keep up, offering customers multiple different ways to pay. This is great news for customers, but it’s been a struggle to manage multiple, disparate payment platforms and the manual processes created as a result. Integrating the various technologies used for accounts receivables (AR) is a bit of a monster, frankly.

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Topics: Straight Through Processing, check processing, electronic check imaging, credit card processing, RDC, ACH Processing

Content Round-Up. Integrated Receivables, Mobile Payments and More.

It was a busy but productive 2014 at FTNI. We know that many of you were equally busy and may have missed some of the content we produced throughout the year. So, we thought we’d take the opportunity to create a round-up of all the content created for your easy perusal.

We hope you found these blogs, infographic, eBooks and product Information informative and useful as you continued to learn more about integrated receivables and straight-through processing. We look forward to providing you with even more great content in the 2015!

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Topics: Straight Through Processing, mobile payments, B2B Payment Processing, integrated receivables