Outsourcing receivables management to a lockbox often costs companies hundreds of thousands of dollars annually for services related to processing payments including: data entry keystroke fees, imaging fees and transmission fees.

Receiving and keying payments internally typically means allocating significant budgets to maintain the overhead required for deposit and cash application including: headcount, management, facilities, and related HR benefits.

In both instances, OPEN SCAN reduces costs associated with these traditional approaches by eliminating bank keystroke fees and reducing labor costs by as much as 50%.

OPEN SCAN’s solution also demonstrates a convincing ROI and payback is typically less than 12 months.

Isn't My A/R Process Already Automated?

The traditional approaches still include inefficient manual steps in the process, increasing the time to post, research exceptions and correct inaccurate data. Automating your entire A/R process results in a measurable, positive impact on cycle times, a reduction in operating expenses, more productive employees and a more accurate and effective revenue cycle.

Is This Really More Efficient ?

Through the use of our proprietary technology we are able to associate payment and remittance data at the point of capture and verify deposit information. In just seconds our exclusive point-and-click template feature captures or recalls all pertinent remittance data, from any payment source, and matches it to the open A/R file at the invoice level.

In addition, OPEN SCAN’s solution is not tied to a specific financial institution and leverages your existing depository relationship. The process is simple. We accept any format, paper or electronic, no matter the source and combine it into a single workflow. Or, if you receive payments at distributed locations, remote deposit capture capability can be fully integrated. With paper continuing for the foreseeable future as a viable payment method, OPEN SCAN offers the most efficient process to integrate paper and electronic payments.

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