US Dataworks has the cloud-based lockbox solution, and Revo Payments supports electronic processing of invoices and payments. The new, combined solution enables Revo to piggyback on the installed base of US Dataworks through its established banking relationships, while strengthening the joint product offering.
According to the companies:
“The combined product offering delivers an end-to-end eInvoicing and payment solution using private cloud technologies to make it easy to implement for businesses of all sizes. Banks can now serve their middle market customers with the advanced electronic lockbox technology and receivables automation previously available to only large corporations using highly customized solutions.”
Smaller banks will gain competitive advantage from the ability to offer this solution to their middle market and smaller commercial customers. The combination of electronic invoicing and receivables processing should be an attractive treasury solution for commercial customers, as they continue to migrate slowly away from the use of checks.
Click here to read more from the press release.