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transactions requiring a resubmission or updated information for future payments. 13.Lockbox Service: Provide detail process of lockboxservice. Accelerate AR Lockbox and AR Console Synovus offers flexible, end-to-end remittance processing services that the Citycan rely on for processing its wholesale and retail lockboxes. Our services can be scaled to the City’s needs. Experience the City can Trust Synovus has processed lockbox payments for more than 20 years. We recently expanded to offer Synovus Accelerate AR suite of products to enhance our Retail and Wholesale Lockbox capabilities. The key to an integrated accounts receivable process Lockbox is the foundation of a fully integrated AR process that handles today’s faster payments quickly and efficiently. A single, standard process for resolving exception items, expediting the posting of receivables, and improving cash flow. Through the Synovus Accelerate AR Console decisioning module the Citycan quickly identify, track, and resolve lockbox exception items, reducing the number of unprocessable payments. Exceptions items, such as checks received without invoices, will be available for the Cityto review. The Citywill gain visibility into receivables with dashboard analytics The Citycan take advantage of an enterprise-level view of all incoming cash flows—regardless of payment type with Accelerate AR Console. AR Console turns receivables information into a source of valuable business insights via dashboard views configured for everyone from the CFO to operations supervisor. Accelerate AR clients may also view team productivity metrics such as volumes processed, straight-through processing, and exceptions rates and deposit amounts for bank reconciliation. Plus, payment trends are visualized across any time period. AR Console accelerates cash application and research The feature rich Accelerate AR Console will enable the Cityto view, search, and extract information for all payments, images, and data for better and timelier data for cash and credit management. Improves efficiency with a single view of payments across lines of business and banking relationships. The Citycan perform research to resolve payment questions and reduce negative customer impact. The Citycan achieve earlier visibility into payments to make earlier investment decisions. Better yet, the Citycan get to collections faster and reduce DSO. A daily Accelerate AR receivables posting file can be provided to import into an ERP or other receivables system. AR Console improves customer service Synovus Accelerate AR Console improves customer service satisfaction with robust research tools. The Citycan easily manage change of address requests, look up payment status (paid, unpaid, rejected) along with associated information and documentation including customer correspondence. This online tool empowers customer service agents to look up payments directly from billing systems July 12, 2024Page 69 City of Sunny Isles Beach RFP 24-06-01 Banking Services - Synovus Bank Submission