Receivables

In order for your funds to work for you, they have to be collected in a timely and efficient manner. Today funds are received in a variety of ways, including cash, checks, credit card transactions, debit card transactions, Automated Clearing House (ACH) transactions and wire transfers. We will help you design a system that optimizes the use of technology to speed your funds collections based on how the majority of your payments are received.

ACH Cash Concentration
Sometimes it is necessary to maintain accounts at other financial institutions. When this occurs, use ACH transactions to collect and concentrate those funds from your other accounts to your account at Associated Bank.

Electronic Data Interchange (EDI)
Many times an ACH payment that comes into your account will come with other addenda information attached to it. With Associated Bank's EDI reporting, the remittance detail will be sent directly to your company, allowing you to post your incoming payments quicker.

Image Cash Letter
Associated Bank’s Image Cash Letter (ICL) solution reduces the time, costs and risks associated with transporting paper checks to the bank by imaging paper items and transmitting them electronically for clearing. ICL is ideal for clients currently depositing more than 5,000 checks per month or relying on a third-party lockbox provider for check processing. Clients capture check images and other related information during processing and send an electronic ICL file to Associated Bank for settlement.

Lockbox Services
Associated Bank can receive remittances directly from your customers (using a P.O. Box) and process them immediately to accelerate the collection and availability of funds. We offer lockbox services for wholesale distribution or manufacturers, with low volume/high dollar receivables, as well as for retail businesses, with high volume, low dollar receivables that use remittance documents with MICR or OCR that can be scanned.

Onsite Deposit Manager (Remote Deposit)
Onsite Deposit Manager (ODM) allows businesses to scan checks and transmit images to Associated Bank for posting and clearing. The basic requirements to set up Onsite Deposit Manager are a PC with broadband Internet connection and an Associated Bank check scanner. Checks you receive at your company are scanned at your office to create a digital deposit. These digital images are then transmitted to Associated Bank over an encrypted Internet connection. The bank receives the file with the deposited images and the deposit is made. The original checks are retained, voided and destroyed by the customer in an established timeframe. Other benefits of Onsite Deposit Manager include:

• Online access to check images – no need to photocopy checks before depositing them
• Improves availability of funds by extending your deposit cut-off times for same-day credit
• The ability to export data directly to your accounting system
• Faster clearing times and notification of returned items, leading to improved cash flow and working capital
• Control administrative functions – ability to define user roles, reset passwords and create new or delete old users from the system
• The ability to see deposits submitted by users, regardless of their physical location

Onsite Deposit Manager Demo (Requires Windows Media Player)

For more information, please call the Treasury Management Customer Care Center 24 hours a day, seven days a week at 1-800-270-2707, or contact your Associated Treasury Management representative.

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