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North Carolina Homeowners Associations should use a lockbox for Accounts Recievable

March 12,2013


It's 2013 and it still amazes me when talking to Homeowners Associations or most business in general who state that they do not currently use a Lockbox.

http://www.inventivepm.com

It's 2013 and it still amazes me when talking to Homeowners Associations or most business in general who state that they do not currently use a Lockbox. After all it is one of the first steps in becoming much more efficient, and productive as a company. For Inventive Property Management, it is a no-brainer and in this post we will discuss some of the benefits that our customers see with the Service of a Lockbox.

First, it helps to lower theft. Luckily as a smaller company that focuses on providing higher levels of service to its customers, this is not something that we have to deal, however it is a nice selling feature to let our clients know that their payments will be going to a third party location that has much more sophisticated software and machinery to handle these types of payments. As these types of items are automated it helps to lower human errors and inaccuracies dramatically.

Secondly, it helps to free up our staff to provide the types of levels of service our clients deserve. Instead of opening payments and posting to accounts, our information is uploaded to us in a secure manner that takes a brief moment. That's right, we do not have envelope opening parties to sort and organize all the money that is sent to us, it is all handled by a professional Lockbox service.

Finally as you can imagine, with the use of a Lockbox, the money is deposited in the appropriate accounts and made available in a much more timely manner. We do not worry about getting to the bank before it closes, it is done automatically. In conjunction with this process we also provide professionally done billing products, provided by a third party vendor that focuses solely on this task. This once again helps tie the entire process together to improve accuracy, speed and cost control.

We want to be innovators in our industry and help provide cost controlling and valuable services to our clients. That is what they pay us to do.


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Inventive Property Management

336-755-7285

Alan

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