Streamline the cash application process for your customers with a customized receivables matching service from Fiserv. RemitStream® SmartBoxSM reduces exception items and speeds the billing process.
With RemitStream SmartBox, you get a receivables matching service that's tailored to your cash application needs or those of your customer. With this efficient cash application service, the Fiserv team becomes your customers' backroom processing operation – saving their staff the time and effort of performing the cash application process internally.
Front-end billing data is reconciled to back-end payments and remittance detail. Paper and electronic payment data are merged into a single consolidated transmission for automated cash application, greatly speeding the billing process. For your convenience, images of checks and remittance documents can be viewed online the same day they are processed. The SmartBox service is especially attractive to insurance companies and other businesses that have a time-consuming cash application process.
- Flexible file format: When bills are mailed, your customers simply download a copy of their open receivables records in any file format and transmit the file to Fiserv
- Customizable processing: Specialized processing instructions can be provided and used by Fiserv staff when comparing the items received with the downloaded file, and when payments are applied to the open receivables records
- Streamlined exception management: Fiserv follows the instructions provided for resolving exception items as they are processed through a customer's lockbox and transmits the updated accounts receivable file electronically for reconcilement