Deluxe Treasury Management Adds Bill Payment To AR Offering

Deluxe Corporation is augmenting its treasury management solution by integrating a bill presentment and payment processing function into its existing accounts receivable tool.

Deluxe Treasury Management said in a press release on Tuesday (Oct. 22) that it will integrate Deluxe Bill Pay and AR.Bots into its suite of order-to-cash services for corporate treasurers and finance executives.

Targeting mid-sized to large corporations and financial institutions, the added functionality lets users bill their customers and integrate payment processing on those bills from directly within the platform. Recipients can choose their own bill pay service or use the platform’s payment portal to pay bills on their computer, tablet or smartphone, the company said. Deluxe automates payments and invoice matching for streamlined reconciliation.

The AR.Bots solution, also known as Automated Retrieval Bots, is part of the Payment Reassociation tool. Deluxe explained that this tool automatically aggregates customer data to obtain remittance details when the payer fails to send remittance information.

“We are always looking for ways to improve the customer billing and payment experience,” said Deluxe Treasury Management Solutions Product Manager Samuel Golbach in a statement. “Deluxe is partnering with customers not only to expand the core of our IR solutions – which automate and make processes easier for customers – [but] we’re also engineering these solutions to be easy to sell, adopt and use so banks can deploy these solutions successfully to companies of all sizes.”

Golbach added that data is essential to automating order-to-cash processes, including payment reassociation, invoice sending, payment receipt, data matching and accounting automation.

“We’re automating and improving the speed, comprehensiveness and accuracy of manual AR processes that pose critical challenges to companies,” added Rod Springhetti, Deluxe’s vice president of product management, in another statement.

The update was announced the same day Deluxe Corporation rolled out enhanced plug-and-play capabilities to its check scanning technology, enabling corporate users of its treasury management solutions to more quickly and seamlessly begin using check scanners.