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Payments Help Desk

The Elevation Blog

5 Challenges for Receiving Remittance Data through Electronic Payments, and the Fix Your Company Needs to Know About

Posted by Robert Unger on Oct 26, 2018 2:14:45 PM

Here at Elevation, we’re ready to help you navigate the challenges associated with receiving and applying remittance data from electronic payments. Our team can help you develop the strategies and processes you’ll need to fully capitalize on faster payments. That’s why when we read Ernie Martin at ReceivableSavvy’s list of five challenges companies face when dealing with remittance data from electronic payments, we knew we had to share!

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Topics: Accounts Receivable, Receivables, ACH Network, ACH

ReceivableSavvy’s Ernie Martin Helps you improve DSO ACH Payments

Posted by Robert Unger on Oct 5, 2018 2:05:12 PM

Speed and efficiency are important to any organization looking to grow and succeed. If you’re responsible for managing your company’s Days Sales Outstanding (DSO) and you want to better understand how to improve DSO management, you need to check out Ernie Martin’s recent post “Improving DSO Management with ACH” on RecievableSavy.com. 

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Topics: Accounts Receivable, Receivables, ACH Network, ACH

ISO 20022 Request for Payment Now Live in U.S. ACH: Simplifies B2B Remittance

Posted by Robert Unger on Apr 19, 2018 3:56:51 PM

By Rob Unger

The majority of U.S. corporations have an atrocious cash application hit rate for B2B payments, where less than 20 percent of payments are processed automatically, and applied to open invoices without manual intervention. 

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Topics: Accounts Receivable, Accounts Payable, ACH Payments, ACH Network

Faster Cash Flow and Lower Payment Costs with Same Day ACH

Posted by Robert Unger on Aug 3, 2017 11:54:56 AM

“Cash is king” and Same Day ACH supports the crown!

Cash flow is the lifeblood of companies, and faster closure of accounts receivables ensures smoother operations, particularly with respect to purchases, payroll, investments, debit reduction and any other functions requiring payment.  Cash flow forecasting is one of the key metrics for most treasury departments and one of the most challenging to get right consistently. 

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Topics: ACH, Automated Clearing House, Receivables, ACH Network, Payments, ACH Transfer, Same Day ACH, Faster Payments, payables, Treasury, cash flow, payment costs

Yes, Virginia, There Is International ACH

Posted by Robert Unger on Jul 27, 2017 8:30:24 AM

By Robert Unger

With apologies to the famous newsman Francis Pharcellus Church and his column on Santa Claus, which appeared in New York’s “Sun” newspaper Sept. 21, 1897).

DEAR EDITOR: I am 38 years old.  Some of my accounts payable and receivable friends say there is no such thing as International ACH, and that I have to make and receive international payments by check, wire or correspondent banking.  A colleague says, ‘If you see it in The Payments Help Desk blog it’s so.’  Please tell me the truth; does International ACH exist?

Sincerely,
Virginia (the sender and receiver of international payments in my company) 

VIRGINIA, your accounts payable friends are wrong – there is International ACH!  But you’re not alone in thinking otherwise; lots of folks aren’t aware that International ACH is a payment option, and that it’s really easy to send an International ACH payment.

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Topics: ACH, Automated Clearing House, Receivables, ACH Network, Payments, ACH Transfer, International Transfers, Cross Border Payments, International Payments

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