At Citi, we understand the challenges of managing labor-intensive, time-consuming receivables duties. We are here to help you streamline the processes and add value across your entire organisation. Citi’s Receivables Management Solutions use various collection channels to collect your receivables quickly, and at reduced cost, delivering your information through a variety of reports using our secure online banking platform. The benefits quickly translate to improved operational efficiency and customer service.
- Reduce Days Sales Outstandings (DSOs) through accelerated collections
- Integrated, efficient collection process
- Better control of cash flow and collections
- Faster, accurate and automated reconciliation
- Help you expand your distribution network
- Utmost convenience for your customers
- Improved operational risk management and controls
- Local language capability
Stay ahead of the pack with our “speedy” suite of products and services, delivering an integrated and efficient collection process. Our innovative solutions include:
SpeedCollectSM
Helps you collect and manage local and regional receivables, simply and efficiently, for better control of cash flow.
SpeedCollectSM Lockbox
Our integrated outsourcing solution consolidates funds in various currencies. The information is captured using a variety of channels including imaging, and is delivered to you electronically for you to upload into your enterprise resource planning (ERP) system.
SpeedCollectSM Remote Cheque Collections
Use our tightly controlled authorised agents to collect cheques from even the most remote locations. Cheques sent to Citi branches or correspondent banks are assured of prompt processing and clearing.
SpeedCollectSM Funds Transfer Collections
With membership in all major payment and clearing systems in Asia Pacific, Citi can collect all your electronic incoming payments, both domestic and cross-border, and capture the relevant information for you to reconcile accurately.
SpeedCollectSM Virtual Account
Use this unique reconciliation solution to match your accounts receivables based on an innovative reference number logic. The incoming credit information is delivered in an electronic file to you, and the data can be used to automate both bank account and open accounts receivables reconciliation.
Direct Debit
Ensures full control of receivables in your hands using our electronic file solution. Additionally, Citi has specific bilateral agreements in several non-ACH countries to support direct debit solutions.
Retail Collections
Use the wide network of convenience stores, post offices and other collection points for your customers to walk in and pay their bills. The information and consolidated reports are delivered to your ERP system.
CitiConnectSM Web-Enabled Financial Services
Use this unique solution to settle online transactions across your supply chain as well as to improve online availability of receivables information.
Our team of experienced electronic banking and implementation professionals can work with your team to automate your cash application process. We have successfully integrated receivables information to a variety of ERP systems. We also offer a wide range of receivables reports in CitiDirect® Online Banking, available in industry standard formats.
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