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Frequently Asked Questions

Below are some commonly asked questions.  If you don't see your answer here, just send us an email.

Q. What is NextGen Receivables processing?

A. The next generation in receivables processing is all about connecting the buyer and seller business transactions in a very automated way. It includes traditional lockbox payment processing where businesses mail checks and remittance advices or stubs into a central PO Box, but the focus is on speed, simplicity, and automation.

Here are a few key principals that define the NextGen Receivables solution:

  • Delivered on-demand: This means there is no software to install and no equipment to buy. You only pay for what you use. As volumes of payments and payment types shift, your NextGen Receivables shifts as well. 
  • Consolidated: Lockbox processing for electronic payments and paper payments are combined in a single system. This consolidated approach allows payments to be captured anywhere, run through the same work flow processes, and be posted to the accounts receivable system from a single connection. Consolidated receivables should include web payments, mobile payments, third party bill pay payments, authorized agents, unauthorized agents, payments received in remote or field offices, and even cash payments.
  • Combined Wholesale, Retail and EBPP: NextGen Receivables is not just about the paper. It does automate paper processing by using advance image analysis techniques, document learning for full-page remittance documents, A/R matching for enhance exception handling, and complete electronic bill presentment (EBPP), and payment or electronic invoice presentment and payment (EIPP).

Q. Is there a special program for bank lockbox processing?

A. US Dataworks is committed to a strong partner approach to rapidly get this new technology out in the market and help thousands of business customers. Banks are a key part of this distribution channel and we respect the unique relationship banks have with their business clients. Our bank partner program enables banks to sell the NextGen Receivalbes solution as an additional option in their Treasury Management product portfolio. We fully brand the NextGen Receivables with the bank's identity and provide marketing support for the product launch. 

Q. Why are real-time lockbox payments essential in today's business environment?

A. Batch processing is quickly going away in favor of real-time processing. Businesses need to be on top of all of their receivable payments as they are received to avoid unnecessary collection actions, service disruptions, or delayed shipments. As the generation that grew up with the Internet and cell phones makes their way into the work force, they will demand more real-time interactions.

Q. We have a variety of scanners that we are currently using include NCR, Canon, and Opex. Can we use our existing scanning equipment with US Dataworks' NextGen Receivables?

A.  Our NextGen Receivables solution works with most industry standard scanners, including NCR, Canon, Burroughs, Opex, and others. There is no need to replace your existing equipment to use our solution. However, if your equipment is aging or is designed for higher volumes of check payments, you can always add newer scanners without impact to your current process. The flexibility and adaptability behind our cloud-based Lockbox solution is key differentiator.

Q. We have multiple channels for payments and, in some cases, different providers for each channel. Can US Dataworks help me consolidate all of our payment channels?

A. Yes. We are the leaders when it comes to remittance payment consolidation. Our NextGen Receivables solution can process payments from your mailed-in receipts, payments from your website, payments from online bill payment services, mobile payments, arranged payments, and walk-in payments. There isn't a payment type or channel that we don't process. The value of this consolidation is the consistency of customer experience, regardless of how the customer chooses to pay. Additionally, your accounting team has a single feed into your accounts receivable or CIS system for a truly simple solution.

Q. We’re concerned about deploying our payment processing solution in the Cloud due to audit compliance requirements and security. Is US Dataworks' NextGen solution safe and does it meet audit requirements?

A. Security, compliance, and audit are our top concerns. We have a multi-layer approach to security that is reviewed regularly by several independent auditors. We pass annual PCI compliance audits, quarterly scans, annual SSAE 16 audits, audit requests by our financial institution partners, and more. In fact, most of our clients report that our security policies, procedures, and controls are stricter than their own internal controls. 

Security and privacy of information are key considerations when moving to the cloud. You can rely on our Report on Compliance or other audits to simplify your own security audits. Our attention to security is a key reason we are trusted to process $7 billion each day.