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Banking
Lockbox Service for Accounts Receivable Management

Handling the utilities bills and cheque payment for an FTSE 100 Bank operating across Asia and the Pacific Islands.

 

“We have been using KODAK Services for Business BPO service to handle the lockbox for more than 10 years, they are very reliable.”

 
 
The Project

To facilitate all utilities companies to handle their cheque payments across APAC, eliminating a very complex and labor-intensive accounts receivable process. Prior to KODAK Services for Business involvement, the cheque retrieval was a manual process.

The Business Needs
  • An outsourced lockbox service to improve quality and cater to the fluctuating volume of incoming bills and cheques.
  • The client required a new method to locate the discrepancy between the bill and the payment amount.
  • Eliminate manual process and time lost to handling exceptional cases.
The KODAK Services for Business Solution
  • Hosting a digital archive at KODAK Services for Business’ BPO Service facility.
  • Mirroring archives of bills and cheque images, offering a seamless backup in event of a disaster.
  • Providing client staff with direct, instant, web-based access to images stored on the archive, including copies of bills/cheques, pay/no-pay decisions, and more.
  • Offering regular Accounts Receivable Reports to automate the AR update.
  • Delivering these solutions on a completely secure and confidential platform.
The Result

After KODAK Services for Business began the five-year contract, the client now has one of the most advanced, secure check processing solutions in banking. Operating costs were cut by 23% and their lockbox process has been significantly improved. Employees no longer manually locate bills from an internal library, reducing the amount of time required to handle any request. By outsourcing to KODAK Services for Business, the client has eliminated all capital outlay and ongoing technology upgrades.

Contact us to learn about the solutions available in your country.