Speed Up Remittance Processing Without Adding Lockbox Infrastructure
Receivables keep business moving, but many billers and bank lockbox providers still rely on manual or semi-automated remittance workflows that take too long, cost too much, and create room for errors.
ibml helps organizations speed up payment processing through timely deposits, reporting, and automatic updates to accounts receivable systems through secure transmissions. Our outsourced remittance processing service handles paper and electronic remittance workflows, giving your team a faster way to capture payment information, process exceptions, and move receivables data where it needs to go.
For banks, ibml also offers private-label lockbox processing services that make it easier to serve existing clients, expand receivables services, and create new revenue without building additional lockbox infrastructure.
How Outsourced Remittance Processing Services Improve Operations
Accelerates Capture and Deposits
Move remittances from receipt to deposit faster with outsourced sorting, extraction, digitization, balancing, and deposit workflows.
Reduces Manual Remittance Work
Free internal teams from repetitive processing tasks so they can focus on higher-value receivables work.
Speeds Up AR System Updates
Send payment and remittance information to existing accounts receivable systems through secure electronic file transmission.
Improves Reporting and Payment Visibility
Give teams faster access to payment data, deposit information, and images for transaction tracking and follow-up.
Streamlines Exception Handling
Manage complex transactions and exceptions without adding more pressure to internal processing teams.
Protects Business Continuity
Keep receivables workflows moving during operational disruptions, seasonal spikes, or disaster recovery events.
Remittance Services Available Through ibml
Paper Remittance Processing
We can digitize documents received on your behalf, including checks, invoices, envelopes, and correspondence.
Electronic Remittance Processing
We manage electronic remittance workflows through secure electronic delivery of payment data, deposit information, and images.
EOB-to-835 Conversion
For healthcare-related remittance workflows, ibml can help convert paper explanation of benefits documents into postable electronic data.
ERA & EFT Re-Association
We manage ERA and EFT re-association for healthcare payment workflows that require electronic remittance advice to be matched with related electronic funds transfers.
Lockbox Integration
Our outsourced lockbox processing services do not require organizations to replace legacy systems or change depository relationships. Payment and remittance information can be exported to existing accounts receivable systems, and electronic deposits can be made to any depository institution.
Remittance Processing Brochure
Learn more about ibml’s outsourced remittance processing services and how they can help your organization reduce internal processing burden, achieve faster deposits, and improve receivables operations.
When to Outsource Lockbox Processing
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Seasonal Spikes Are Straining Your Team
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Manual Workflows Are Slowing Payment Posting
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Check Volumes No Longer Justify New Systems
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Internal Lockbox Capacity Is Limiting Growth
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Receivables Need Business Continuity and Disaster Recovery Protection
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Bank Clients Need More Services Without More Infrastructure
Who Benefits From Outsourced Remittance Processing?
Banks and Financial Institutions
Healthcare Organizations
Utilities and Telecommunications Companies
Manufacturers and Distributors
Property Management Companies
Government Entities
Retailers, Charities, and Membership Organizations
Why Choose ibml for Remittance Processing
ibml brings together outsourced remittance operations, advanced capture technology, and over three decades of experience with document-heavy workflows. Our approach helps organizations speed up cash flow without replacing existing systems, changing depository relationships, or building new lockbox infrastructure.
ibml can manage the capture workflow from document receipt through data storage and reporting. Our technology validates transactions during scanning, captures information in-line, routes documents electronically, and improves image quality for stronger OCR and ICR read rates. The private-label model makes it easier for banks to expand services so they can serve more client needs, compete for new business, and create additional revenue opportunities while ibml manages the processing behind the scenes.
Request a Remittance Processing Consultation
Talk to ibml about outsourced remittance processing services that can help your organization reduce manual work, speed up deposits, and move payment data into your AR systems faster.
Talk to a Remittance Processing Specialist
Outsourced Remittance Lockbox Processing FAQs
What are outsourced remittance processing services?
Outsourced remittance processing services help organizations capture, digitize, balance, deposit, and transmit payment and remittance information without managing the full workflow in-house. These services can handle checks, invoices, envelopes, correspondence, electronic payments, deposit information, and AR system updates.
What is the difference between remittance processing and lockbox processing?
Remittance processing focuses on capturing and handling payment information and related documents. Lockbox processing is a banking-related service where payments are received, processed, and deposited on behalf of a business. The two often overlap because lockbox processing includes remittance capture, deposit preparation, reporting, and delivery of payment data.
What types of payments and documents can ibml process?
ibml can process business-to-business and consumer-to-business transactions, including high-dollar and low-dollar payments. ibml can also digitize documents received on your behalf, including checks, invoices, envelopes, and correspondence. For healthcare workflows, ibml can manage EOB-to-835 conversion and ERA and EFT re-association.
Can outsourced remittance processing work with our existing AR system?
Yes. ibml’s outsourced remittance processing service is designed to work with existing systems. ibml can export payment and remittance information to accounts receivable systems through electronic file transmission, helping organizations improve remittance workflows without replacing current platforms.
Can banks offer ibml’s remittance processing services under their own brand?
Yes. ibml offers private-label opportunities for banks that want to serve existing clients, expand lockbox services, or create new revenue without investing in additional lockbox processing infrastructure.
Meet your business needs
ibml sorts, extracts, digitizes, balances and deposits remittances per your needs. Any document received on your behalf can be digitized, including checks, invoices, envelopes and correspondence. And you can rest easy knowing our scalable services meet seasonal fluctuations or changing needs.
Improve operational efficiency
ibml’s outsourced remittance service processes any high-dollar or low-dollar business-to-business or consumer-to-business transaction, as well as any exceptions, regardless of the volume. Letting ibml manage your remittance processing frees your staff to focus on value-added receivables activities.
Avoid costly capital investments
Declining check volumes are making it harder than ever to cost-justify the purchase of a new in-house remittance processing system. With ibml’s outsourced remittance service, billers can leverage state-of-the-art technology without costly capital investments and ongoing maintenance fees.
No need to change legacy systems
ibml’s outsourced remittance service does not require changes to your existing systems or deposit relationships. We export payment and remittance information to any accounts receivable system via electronic file transmission. And we can make electronic deposits to any depository institution.
Enhance customer service
ibml provides same-day deposits and electronic delivery of payment data, deposit information and images. Fast information delivery makes your company more agile, pro-active, and client-centric.
Ensure business continuity
Billers with a single in-house remittance processing location – or multiple locations far apart – can leverage ibml’s outsourced remittance service for business continuity and disaster recovery.