Integrated Receivables Hubs: Revolutionizing Receivables Processing
Report Summary
Integrated Receivables Hubs: Revolutionizing Receivables Processing
Of large U.S.-based companies, 81% perceive adopting an integrated receivables hub as adding value to their organization.
Boston, MA, September 20, 2010 – A new report from Aite Group identifies value propositions for implementing integrated receivables solutions at U.S.-based companies. This report follows Aite Group’s August 2010 report, Insights Into Corporate Receivables, which examines the issues negatively impacting corporations’ receivables processing capabilities.
Receivables, the lifeblood of any company, remain complex to process. As a result, 81% of executives perceive adopting an integrated receivables hub as adding value to their organization, according to an Aite Group survey of 80 senior receivables and treasury managers at U.S. companies with annual revenues exceeding US$1 billion. These solutions aggregate payments and coinciding remittance details received from multiple payment sources (i.e., lockbox, checks, wire transfers, ACH, and cards). They provide consolidated reporting and account receivables feeds, and automate the consolidation of internal and external data sources to resolve exceptions. Integrated receivables hubs also provide trend analysis across payment types, help banks and their customers make analytical inferences about payments, and accelerate the application of cash and information through a uniform data stream to provide timely and valuable information to corporations.
“Most large companies process their receivables in-house, but are less than fully satisfied with their process,” says Nancy Atkinson, senior analyst with Aite Group and co-author of this report. “The concept of an integrated receivables hub therefore resonates with large companies. The solution addresses most of the pain points companies cite with regard to their receivables and cash application processes. Banks that offer integrated receivables hub solutions also see considerable profitability and enhanced client relationships as a result.”
This 43-page Impact Report contains 32 figures and one table. Clients of Aite Group's Wholesale Banking service can download the report.