UPDATE: This post has been updated with content regarding OnPay Solutions new A/R Lockbox product.
Bank lockbox services have been around for decades as a way for cash management and finance teams to improve their receivable processes for checks and other corporate payments sent through the mail. But with today's technological advances, bank lockboxes may not be enough. SaaS companies have begun to provide accounts receivable services to organizations. This post will go over both the cons and pros of a bank lockbox service and how a cutting-edge invoice clearing platform can benefit your company- A/R automation from a SaaS company.