Save time and increase cash flow by outsourcing the processing of mailed payments to Tompkins. Our Lockbox Services solution automates the receipt, processing, and deposit of checks sent via regular mail, saving time and reducing error and risk.
Tompkins centralizes payments to a single post-office box and makes daily, convenient collections. We immediately process incoming payments using a proprietary, automated process - opening mail, processing payments, and depositing funds swiftly and securely into your account. Paper checks are imaged, archived and then shredded for secure disposal. Deposits are made the same business-day they are received in a fast and accurate manner. You receive an electronic PDF report providing copies of your information or a data file to upload to your Accounts Receivables system, automatically updating your receivables records.
Benefits
- Faster processing for improved cash flow
- Reduced risk of theft and fraud
- Decreased potential for manual error
- Improved productivity and efficiency
- Reduced days outstanding on payments
- Quicker and highly accurate posting
