Interactive Lockbox

J&B Software's Interactive Lockbox Solution streamlines the payment process. It allows for real-time correction and/or special handling. It also reduces manual exception processing and automates reconciliation.

In the current environment, if a remittance center cannot complete processing due to additional decision-making or special handling requirements, the payment is often rejected and physically sent via mail to the appropriate department. Or, it may be handled outside the data entry process, adding complexity to reconciliation and general ledger bookings. This adds time and expense to the transaction process.

J&B Software's Interactive Lockbox (ILB) allows clients to automatically move exception items to the appropriate department for handling. This module provides our customers with a delivery vehicle to move real-time, exception items or special handling requests directly to the appropriate source for payment processing completion. This collaborative online processing platform streamlines the payment process, adding real time correction and/or special handling, reduces manual exception processing, and automates reconciliation. At the same time, it maintains transaction integrity between the check and the invoice. Additionally, it eliminates the need for operators to manually interact with their customers via fax, email, and phone, since operators do not need to physically remove the payment from the workflow.