Synovus introduced Synovus Accelerate AR, an all-new, fully integrated receivables suite enabling organizations to accelerate access to working capital and reduce exceptions with straight-through processing across all payment channels. Synovus Accelerate AR is provided with Deluxe, a Trusted Payments and Business Technology™ company and the industry leader in retail and wholesale lockbox services.

“The proliferation of payment channels, and the constant change in preferences by the businesses and consumers who use them, have increased the challenge of effectively processing and posting payments deployment options,” said Katherine Weislogel, Synovus Head of Treasury & Payment Solutions. “Synovus Accelerate AR anticipates the rapidly evolving requirements of organizations to accelerate capture of payments, improve the cash conversion cycle, and make better business decisions.

“We couldn’t be more excited to make Synovus Accelerate AR available to clients, or to extend our partnership with Deluxe, with whom we’re proud to have collaborated for more than 20 years.”

“Everyday businesses large and small struggle with accounts receivable efficiency,” said Gary Cawthorne, Vice President of Treasury Management for Deluxe. “We’re thrilled to be continuing our longstanding relationship with Synovus on this all-in-one cloud solution that not only automates digital and paper processing but improves speed and accuracy during the process.”

Synovus Accelerate AR includes the following services:

• Synovus Accelerate AR Console, a comprehensive portal that displays all accounts receivable activity and is the primary service module for the Synovus Accelerate AR suite. The console offers a wide range of flexible deployment options for lockbox and receivables solutions for clients to improve their business, reduce operational risks, and improve their cash flow and efficiency ratios.
• Synovus Accelerate AR Match, a straight-through-processing service that automatically matches incoming electronic and paper payments to open invoice remittance details using machine learning and sophisticated algorithms.
• Synovus Accelerate AR Biller, which enables clients’ customers to quickly and securely view bills and make payments from a web browser or mobile device, including the option to select from multiple payment methods, save payment information for next time, or activate recurring payments.
• Synovus Accelerate AR Aggregator, which consolidates payments, electronically delivers fund and posting data to clients, and results in fast, straight-through processing that maximizes efficiency.
• Retail and wholesale lockbox services are also available as part of Synovus Accelerate AR.