The Power of Cash Concentration
A Sterling Cash Concentration account automatically consolidates your company's funds from multiple collection points - sales outlets, lockbox networks, etc. - into one account for investment and payment purposes. Electronic funds transfers via the Automated Clearing House (ACH) expedite the receipt of funds in your account, and reduce the cost associated with a manual collection system.
Customized Solutions for Receivables Management
Sterling CMS will manage your receivables in the way that suits your business needs. We can process paid items and deposited checks and transmit to you an electronic data file that will interface with most accounting software packages to automatically update customer account files. You can immediately track your revenues online, with complete transaction detail, or through monthly paper reports. For permanent record storage and retrieval, you have a choice of paper or CD-ROM archives that include images of check fronts and backs.
Fewer Chores, Faster Conversion
Sterling Lockbox Services convert receivables to cash quickly and save you the time, trouble and overhead cost of receiving and processing your customers' payments.
With Retail Lockbox Services, you can choose to have your invoices printed and mailed on your behalf and have customer payments directed to a post office box where they are frequently retrieved. Our rapid processing uses the most current technologies: Optical Character Recognition (OCR) scan-line reader automatically captures data, while imaging technology creates electronic images of check fronts and backs. These images can be easily shared by several departments to improve customer service and collection activities. As an alternative to paper-based invoices, we also offer a fast and convenient ACH electronic debit payment processing method. Overall results include faster postings of receivables to your account, more efficient exception processing and reduced risk of manual error.
For high-dollar transactions, Sterling's Wholesale Lockbox Services completely sort and process customer payments and deposit funds in your account the day they are received. Comprehensive, accurate reporting and documentation are available electronically or in paper formats, depending on your preference. An optional automated interface to your accounts receivable system minimizes errors in posting payments to customer accounts.
Higher Sales Volume
Sterling's Merchant Services Card Processing increases the likelihood of more frequent and larger customer transactions by offering a broad choice of payment options: credit card (VISA® and MasterCard,® with the option to add Discover® and American Express® at the processing terminal), debit and ATM cards, and checks, which are converted to electronic transactions. Your merchant checking account is automatically credited via ACH.
With Sterling Collection and Concentration Services you can count on fast availability of incoming funds thanks to the automation of tedious and error-prone manual processes. The time you save letting Sterling handle your receivables is time you can spend serving your customers and expanding your business.
For more information, contact Anna Roina, Vice President & Certified Treasury Professional (CTP) at 212.575.4539 or email to firstname.lastname@example.org