FT. LAUDERDALE, FL / ACCESSWIRE / September 25, 2017 / Paybox Corp. (OTC PINK: PBOX) announced today that it has recently signed multiple new customer contracts through both its direct sales team and banking channel partnership. Paybox Corp provides corporations the Paybox® Cloud Automation suite of Accounts Payable and Accounts Receivable solutions and Integrated Receivable solutions for the banking and financial industry.
“We are very pleased that our investment in our direct sales organization has led to so many customer wins, several of which we are currently implementing,” said Paybox Corp Chairman and CEO, Matthew E. Oakes. “Our investment in our banking channel partnership has gained significant momentum, resulting in multiple new customers, concurrent implementations, and increasing recurring revenue.”
New Accounts Payable Automation module for Claims Form Processing launches
Paybox Corp.’s development efforts are attracting customers, as well. The company’s new automated claims form process has recently been released as part of its Account Payable Automation suite of offerings. This module significantly streamlines the current manual paper claims form process, a people-intensive, time-consuming system that is frustrating for customers and vendors alike, and fraught with potential for errors, The new module has been adopted by one of the nations largest food and grocery distributors (a top ten private company in the US) and is currently being deployed.
“Customers continue to look for more benefits from automation solutions, to justify the switch from traditional business processes to a digital ecosystem,” said Oakes. “Our goals are to offer more advantages than anyone else, to dismantle any barrier to automation, and to be the vendor that partners with companies to make their digital transition.”
Paybox® provides a powerful working capital management platform that facilitates over $160 billion worth of transactions annually, among more than 425,000 companies worldwide. Clients include IBM, Siemens, United Technologies, Saint Gobain, Alpha Technologies, Carlson, and one of the world’s largest banking institutions. Paybox Cloud, the company’s flagship component, facilitates accounts receivable and accounts payable processes, providing vendor and customer portals, image capture, electronic invoice processing, workflow integration, online adjustments/approvals, and electronic smart payments. PAYBOX® can be integrated with any legacy accounting, ERP or lockbox system. It is primarily sold to corporations and banks. Paybox also offers treasury management and lockbox services to corporate users. Banks and corporations use PAYBOX® to reduce Days’ Sales Outstanding, lower costs, and improve straight-through AR/AP processing and posting