Lockbox banking is arguably an indispensable part of doing business in the modern global economy. Banks provide localised lockboxes to receive remittance payments from customers, then collect and process the payments, typically on a daily basis. Particularly for large multinational companies, lockboxes offer substantial benefits, from expediting deposits and reducing internal processing costs to providing […]
For enterprises both large and small, bank reconciliation is a necessary yet time-consuming and difficult process. The challenges are compounded for global, multi-location retail organisations that manage multiple bank accounts across different stores and in different regions. However, modern, automated bank reconciliation software is enabling large global retailers to perform bank recs with greater accuracy in less […]
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