Year: 2025
Type: article
Abstract: Accepting any mode of payment such as Physical Checks, ACH, Wire, Credit Cards etc. from customers is a huge gain for any organization dealing with customers coming from various technological or business backgrounds whereas processing these payments and having the flexibility to utilize these funds immediately can be challenging due to various reasons such as lack of tools and technologies, regulations or privacy protocols requiring secured means of data exchange between customers, banking institutions and organization’s ERP Systems. Processing Physical checks received from Customers through Lockbox is one of the widely used mode of payments in North America. SAP has a robust functionality to receive lockbox information in an electronic form, automate the processing of recording the payments and providing insights into Cash Position. This article talks about the use of lockbox process and how its integrated between Customers, banks and Organization’s ERP Systems.
Author: Satya Venkata Naga Ganesh Nanduri -
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4410019600