9/19/2016. Receivables Management. Elizabeth Miller, CTP AASBO 9/27/16. Number of days to collect from revenue sources. to pay inventory purchased

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1 Elizabeth Miller, CTP 1 AASBO Sweep Services ZBA ACH Lockbox Service Regions Quick Deposit Vault Services Imaging Services RegionsOne Wire Transfer (Incoming) Merchant Services itreasury ACH Commercial Card Skylight ONE Card Wire Transfer (outgoing) ACH Alert EPA Positive Pay ZBA AASBO 9/7/16 Number of days to collect from revenue sources Number of days to pay inventory purchased 1

2 Goals: Expedite and optimize cash flow through strategic AR solutions Optimize AR workflow to increase employee productivity Reduce past due receivables and bad debt for increased profitability Facilitate straight through processing and leverage existing technological investments More effectively direct cash flow to investments or debt reduction Increase collaboration among trading partners Mitigate the risk of employee fraud through best practices and technology 4 AASBO Overview Because your bottom line is directly impacted by how quickly receivables are converted into available funds, your Regions Relationship Manager and Treasury Management Officer will review your organization s accounts receivable process to: Provide a strategic plan to streamline and simplify work flow Automate and integrate the collections process Foster a more collaborative approach with your payers Receivables Solutions Regions Integrated Receivables ACH Debit Origination Wholesale Lockbox Retail Lockbox Image Lockbox Online Association Image Lockbox Regions RemitPost TM for Healthcare Regions Quick Deposit Client Image Cash Letter Vault Services Vault Remote Cash Capture Incoming Wire Transfer Improve cash flow Speed Collection Quickly Convert Receivables 5 AASBO Regions Quick Deposit Streamline deposits by submitting checks right from your business location and benefit from an extended deposit deadline for same-day credit with Regions Quick Deposit. Enjoy total control Regions makes it easy. Use the Regions Quick Deposit scanner to make deposits whenever you want. You have total control of processing your daily check deposits. Quick Deposit allows you to check totals and make error corrections before the deposit goes to the bank. Plus, you can use the application to review deposited check images anytime. Improve funds availability Regions gives you flexibility. Regions Quick Deposit has an extended ledger deposit deadline (8:00 p.m. CT compared to :00 p.m. CT for in-branch deposits). You have more time to make additional deposits which allows those funds to be available a full day earlier. Centralized management Regions makes it manageable. For companies that have multiple locations, Regions Quick Deposit offers centralized management allowing multiple users the ability to make deposits from various locations through a single database. Simple installation Regions makes it simple. Just connect the scanner to your PC. The application software resides within Regions, not on your equipment. 6 AASBO

3 ACH Debit Origination Regions can help you save time. ACH debit origination allows your company to collect payments from your clients via the ACH Network. ACH debit origination also provides a fast and effective method of receiving recurring payments. The dollar amount you indicate whether fixed, variable and/or recurring are debited directly from your clients accounts to your Regions account. You benefit from reduced billing costs, faster collections and greater control and predictability of your accounts receivable process. Your clients and vendors also benefit from the added service and convenience, improving relationships. Plus, use ACH debit origination to concentrate funds from other financial institutions to your Regions accounts. ACH Debit Origination can benefit companies and institutions: Of any size who wish to reduce paper related expenses and operate in a more ecologically friendly manner Wanting to automate payroll through direct deposit Wanting to concentrate funds from other bank accounts 7 AASBO Because your bottom line can be directly impacted by how quickly receivables are converted into available funds, Regions offers solutions to expedite collection and improve cash conversion. Wire Transfer (Incoming) Receive electronic funds transfers same day directly into your Regions account. Wire transfers are the ideal payment method for large transactions or settlements and are among the fastest means of receiving electronic payments. Also take advantage of improved exchange rates and transaction terms when conducting business internationally. Vault Services Vault Services offers a convenient and secure receivables option for your company s regular high volume cash deposits. Deposit operations are also streamlined to enable you to better manage coin and currency deposits and receive same day credit. With Regions extensive vault network, your deposits are processed quickly and efficiently, while change orders are delivered per your instructions. Clients who use Vault Services include retail stores and chains, medical practices and universities, among others. Benefits of Vault Services Flexible reporting Vault deposit totals and error corrections can be provided to you by a variety of methods. Improves funds availability Funds are available sooner for investing, loan payments or needed business purposes. Same day credit also enables you to get a full view of your company s or institution s cash position daily, simplifying reconciliation. Assures adequate inventory Convenient and efficient cash order fulfillment 4/7 by phone or automated standing order ensures inventory is maintained to meet your cash and coin order needs. Branch cash processing costs are also reduced. 8 AASBO Lockbox Services Regions Lockbox Services collect payments from multiple collection points directly into your commercial or institutional account in order to speed deposit processing and streamline AR workload to improve efficiency. Funds are available sooner for lower borrowing costs or enhanced investment opportunities. Benefits include: Improved cash flow Accelerating the collection process increases your working capital and allows faster access to the funds. Better security and safety Security is improved by separating invoicing and receiving functions, while disaster recovery is covered by Regions contingency operations. Enhanced payment processing Payments are processed faster and errors are reduced. Reallocation of resources Labor-intensive payment processing is eliminated, allowing those resources to be redeployed elsewhere. Available Wholesale Services Lockbox Retail Lockbox Association Lockbox Collection and processing of corporate-tocorporate payments. Typical payments are high-dollar, low-volume transactions where expedited mail and collection float is paramount for investing or other business purposes. Regions Wholesale Lockbox Services can provide a costeffective solution, where collection and posting are accelerated and your cash flow improved. 9 AASBO Collection and processing of consumer-tocorporate payments. Typical transactions are high volume, low-dollar consumer-tocorporate remittances, where a regular payment flow exists with monthly/multiple billing cycles. An effective, accurate and automated method of processing receivables. Integration among paperbased payments, electronic payments and third-party payment services. Designed for association and property management companies that accept checks, make daily deposits or want to improve remittance processing efficiency to benefit working capital. Regions Association Lockbox can simplify remittance processing and optimize your cash flow. 3

4 Sharon Roberts, CSFO Birmingham Board of Education Lauren Butts, CSFO Pelham Board of Education Linda Agee, CSFO Alabaster City Schools 10 AASBO QUESTION 1 What types of payments do you accept? (check, card, ACH, wire) What is the percentage of each payment? 11 AASBO QUESTION Please explain how these transactions move through the accounts. 1 AASBO 4

5 QUESTION 3 Do you have an online portal to accept payments? Have your students and parents asked for the ability to pay online? Or via credit card? 13 AASBO QUESTION 4 Do you utilize a lockbox or a remote check scanner? 14 AASBO QUESTION 5 Do you receive large amounts of cash? If so, do you have a vault relationship? Or a remote vault? 15 AASBO 5

6 QUESTION 6 What are your biggest challenges managing receivables? 16 AASBO Allison Eden 17 AASBO Sweep Services ZBA ACH Lockbox Service Regions Quick Deposit Vault Services Imaging Services RegionsOne Wire Transfer (Incoming) Merchant Services itreasury ACH Commercial Card Skylight ONE Card Wire Transfer (outgoing) ACH Alert EPA Positive Pay ZBA 6

7 AASBO 9/7/16 Number of days to collect from revenue sources Number of days to pay inventory purchased 19 AASBO Your disbursements process can have a substantial impact on overall profitability. The importance of AP management increases exponentially with the size of your organization. For this reason, we recommend you use Treasury/ Cash Management solutions to strategically manage AP processes to help you maximize cash flow and profitability. Disbursement Goals: Disburse payments later Vendor Payables ACH (Same Day ACH available Sept 016) Checks Wires Commercial /Purchasing Card Integrated Payables Payroll ACH Direct Deposit Payroll card Paycor 0 AASBO Integrated Payables Features & Benefits Streamlined Processing of Payments Save time and improve DPO management, flexible payment types, control features and use of a one-step process Reduced Cost of Payments Processing Reduced internal costs to issue checks and initiate ACH files Online Web Portal for Vendors With visibility to payment and remittance detail and archives We enroll your vendors for check conversation to ACH or virtual card payments Advanced Notification of Payment - Automated remittance notification and detail available online for Virtual Card and ACH payments before the payment arrives Full Remittance Details Available for upload, reduces A/R task load, customer collection inquiries, and errors Improved security with Web-based control over payments with straight-through processing from ERP system File review and release File and transaction level notifications/approvals Positive Pay services provided for checks and ACH Better business data Information archive for transaction research and detailed reporting for business intelligence and Accounts Payable insights Workflow efficiencies, improved process management, and better utilization of resources 1 AASBO 7

8 Payment Processing Steps 1 3 AASBO PayNetExchange Vendor Portal 3 AASBO PayNetExchange Vendor Portal Card Payment Notification 4 AASBO 8

9 Payment Processing Steps AASBO Advanced Expense Management Regions Commercial Card Eliminate inefficient processes, save time and drive value to your bottom line Optimize operational efficiency Lower payment processing costs and optimize working capital while paying suppliers faster Centralize invoice, payments and reporting Alleviate back office processing by shifting payments from manual invoice and check processing to efficient card settlement Reallocate employee resources to more productive organization tasks Purchasing Card Used for business expenses Enhance visibility into organizational spend Improve working capital Reduce fraud risk through authorization controls Real-time transaction monitoring companywide Available traditional plastic or ghost card Visa travel and emergency assistance and rental car insurance included Regions Commercial Card Matrix Commercial (Travel) Card Fleet Card Used for travel expenses Used for fuel and vehicle maintenance expenses Monitor travel expenses and reimbursement Capture odometer reading and driver ID/vehicle ID at Cardholder accountability pump Travel policy enforcement Track fuel purchases and Available traditional plastic, costs ghost card, EMV chip card No out of pocket expenses for International use Available traditional plastic Company and individual payment options Visa travel and emergency assistance included Visa travel and emergency assistance, rental car May apply MCC restrictions insurance and $50K business travel insurance Virtual Card Used for larger recurring AP expenses Payment consolidation Improve working capital Eliminate paper-based, manual processing Integrate with AP system Reduce cycle Single use or exact authorization or 30/60/90 day expiration 6 AASBO Advanced Expense Management Regions Commercial Card Why do I need a Commercial Card Program? Another disbursement type Obtain goods and services today, pay Regions up to 45 days later Interest free Participate in Revenue Sharing Program Leverage automation tools for expense management and AP automation Average Cost per Transactions across al Industries Paper Checks $7.15 ACH $4.7 Wire Transfer $9.86 Commercial Card $3.96 *Based on 01 Aberdeen Study Extended Float & Improved Cash Flow Typical Vendor Net 30 Payment Order Pay vendor Terms equipment with a check Regions Commercial Card Payment Order equipment Terms (on Feb. 5) days additional cash float depending on date of payment and billing cycle Pay vendor 30 day cycle Payment to with the cut Regions is Corporate (on April 5) due Card (by April 0) (on March 5) 7 AASBO 9

10 Advanced Expense Management Regions Intersect SM Single platform for Card Management, Expense Reporting and Virtual Card consolidates functionality under a single login and supports client needs and growth without adding on additional tool sets. Regions Intersect SM Regions Intersect SM Mobile 8 AASBO Advanced Expense Management Payroll Solutions 9 AASBO Advanced Expense Management Skylight ONE Card 30 AASBO 10

11 Lynn Buch, CSFO Homewood Board of Education Eric Neumann, Baldwin County School Board Accounts Payable Manager Kelly Augsburger, Accountant Auburn City Schools Jimmie Thompson, CSFO Anniston City Schools 31 AASBO QUESTION 1 How do you typically pay your suppliers and vendors? What percentage of these payments are cash, check, ACH, card or wire? 3 AASBO QUESTION Are all of your employees paid via direct deposit? 33 AASBO 11

12 QUESTION 3 What is the process for reconciling your accounts? Do you utilize any reconciliation services? 34 AASBO QUESTION 4 Are you using any fraud protection services (ACH, check)? 35 AASBO QUESTION 5 What are your biggest challenges managing your operating accounts and day-to-day business? 36 AASBO 1

13 37 AASBO 13

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