Cost-reducing solutions

Maximize your working capital by accelerating your receivables. In turn, reduce financing costs, problem accounts and administration time and cost.

  • Reduce administration costs

  • Pre-authorized payments, bill payment solutions, outsourced lockbox services and more

  • If your organization collects regular, recurring receivables within Canada or from the United States – pre-authorized debits can significantly improve your cash flow.

    Our Electronic Funds Transfer (EFT) and Automated Clearing House (ACH) services help you:

    • Minimize payment errors, delays and NSF cheques
    • Enhance working capital and reduce carrying charges with timely collections. – future date receivables up to 60 calendar days in advance.
    • Improve cash forecasts with more predictable cash flows
    • Reduce administrative expenses and save on invoice preparation, mailing and collections expenses.

    Scotia EDI® service is for a wide range of organizations that initiate EDI purchase orders, settle many invoices and use PCs and LANs heavily in operations and administration.

    Facilitate communications, and reduce costs and administration time:

    • Integrate remittance data into your accounts receivable system with electronic reporting
    • Your Canadian customers can transmit electronic payments in Canadian Dollars
    • We receive and process incoming EDI payments and provide you with same-day value

    If your company has significant sales volumes in areas where you don't maintain offices, consider Scotiabank Lockbox Service in both Canada and the United States.

    Simplify Processing with our lockbox services:

    • Achieve "local business" presence in markets where you don't have an office
    • Improve turnaround times for customer orders that require payment processing before shipment
    • Speed up the collection of domestic and foreign-denominated receivables

    Tailor the reporting service best used for your Bill Payment Remittance collections from your consumer base.

    • Faster receipt of funds
    • Multiple payment options for payors (Internet, ABM, Telephone)
    • Option of consolidated electronic reporting that easily integrates into your accounting system or an internet based reporting service

    Electronic Reporting allowing system integration

    Manage your international accounts online from your domestic office:

    • View account balances and transaction data from international Scotiabank locations and global partner banks
    • Manage international accounts from your domestic head office

    For additional information

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