Advanced Lockbox Processing Solutions

Affordably Implemented, Highly-Configurable, Internal or Outsourced Lockbox Processing Solutions.

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Flexible Lockbox Processing Solutions

ETran Lockbox processing solutions fit the bill no matter your needs. The decision to leverage a lockbox within your receivables mix—whether run internally or outsourced—is no small undertaking. FTNI's integrated receivables platform delivers affordably implemented, easily configurable and conveniently maintained lockbox processing solutions including advanced RDC, remittance document scanning, and seamless posting of payment data to your back-office system.

Currently in use within corporate internal lockbox operations, banks and third-party operators, ETran provides the flexibility and configurability you need to streamline the acceptance, processing and posting of your lockbox remittance items. 

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Powering In-house & Outsourced Lockbox Operations

FTNI's ETran is a cloud-based, fully integrated receivables platform that can be used as the engine of an internal lockbox operation. ETran is currently in use driving lockbox operations at firms processing as little as a few thousand checks/remittance documents per month to powering lockbox operations processing nearly 1 million checks and associated documents monthly.

ETran can also be used to bridge the gap between your outsourced lockbox provider's data feed and your systems. Along with the benefits of outsourcing your lockbox operations, there can also be some common 'headaches'. One of the most common is having to deal with receiving limited remittance data associated with lockbox items that many times still has to be manually reviewed and uploaded into your accounting systems.

ETran can help bridge that gap by automating historically manual, time-consuming and error prone processes and supporting the posting of payment and remittance data to your back-office systems. 

ETran Lockbox Processing Solutions: How It Works 

Regardless of whether you're looking to utilize in-house or outsourced lockbox operations, ETran can help you optimize business processes and workflows on a single A/R platform. 

ETran supports the scanning and association of checks and remittance documents. Using optical character recognition (OCR) technology, meta data can also be captured from remittance advices for posting and cash application purposes into any back-office system.

ETran is scanner agnostic, supporting all the major desktop check scanning manufacturers, along with other leading enterprise scanning station hardware.

In-House Lockbox Operations: ETran is currently in use driving lockbox operations at firms processing as little as a few thousand checks and remittance documents per month, yet it is also powering lockbox operations processing nearly 1 million checks and associated documents monthly.

Outsourced Lockbox Operations: Currently used by banks and other third-party lockbox providers, FTNI delivers the technology and partnerships to support your outsourced lockbox processing needs—all with the added benefit of ready access to a single truly integrated receivables platform.

ETran's back-office and bank agnostic nature allows it to consume information from your outsourced lockbox, as well as information form your back-office systems to streamline and automate the matching of customer and payment data based based on your unique business rules. Then, ETran can feed that data into your back-office system(s) in either batch or real-time to complete the cash application process.

Consuming and matching transaction data with the appropriate customer accounts for automatic posting helps eliminate manual processes, and lets your employees focus on higher value functions such as exception handling. 

ETran's SaaS architecture not only provides increased efficiency, but also delivers multiple layers of industry-leading security and compliance.

At the application layer, ETran is both PCI and HIPAA compliant. Additionally, FTNI's secure cloud hosting partner, Armor Defense, brings another layer of proactive security and compliance (PCI, HIPAA, SOC, and more) at the hosting layer as well.

Consistent with all modules on the ETran platform, ETran's Lockbox solutions maximize flexibility and scalability within your A/R operations by working with your existing bank(s), merchant processor, back-office systems and check scanning hardware.

Having an agnostic system means you don’t have to change platforms or rebuild existing processes as your business, financial or back-office technology needs change today, tomorrow and years into the future.

Achieve true straight-through processing of payments received and processed from your internal or outsourced lockbox operations as a result of ETran's unique ability to seamlessly integrate with any back-office system in either batch or real-time. As your business needs grow and evolve, you'll be able to streamline and automate the cash application process for all payments accepted on the platform (AutoPay, RDC, Lockbox, Online, Mobile, etc.).

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“ETran accelerated our review processes by nearly 75 percent in the first thirty days of production. We went from having to manually review 100 percent of the check payments and associated forms within our lockbox operations, to reviewing only 20 percent of checks and documents scanned, and I expect that number to continue to decrease over time.  The efficiencies we have already realized are significant, to say the least.”

Greg Hopkins, Assistant VP Corporate Accounting

Physicians Mutual

Available Resources

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Data Sheet: ETran Lockbox Solutions

FTNI’s lockbox solution delivers affordably implemented, easily configurable and conveniently maintained lockbox processing solutions.

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eBook: Integrated Receivables

This free eBook delivers a handy checklist for identifying and selecting a truly integrated receivables solution to meet your business needs.

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eBook: Remote Deposit Capture

In this free eBook, learn five ways to improve your business with RDC and mRDC, including the key elements to look for in an RDC solution.

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