Secure end-to-end lockbox services streamline receivables and unlock growth

Business challenge

Maintaining lockbox operations has become an expensive distraction from core business objectives for many financial institutions and enterprises managing high volumes of receivables. The rising cost of labor and real estate, combined with outdated processing infrastructure, make it increasingly impractical to manage receivables in-house. Consider the inefficiency of hundreds of employees manually reviewing thousands of checks and remittances—not to mention the risks, errors, and delays.

These firms are at risk of losing commercial clients to competitors who offer fast, modern receivables platforms. It’s time to exit the mailroom business, reduce fraud and shrink mail float, and adopt a best-in-class lockbox experience.

What if you could

• Remove the burden and cost of a physical lockbox process by automating invoice and remittance capture for faster, more accurate, and scalable operations.
• Enhance operational efficiency, mitigate fraud risk, and accelerate cash flow with optimized, intelligent workflows.
• Provide a better customer experience and allow staff to easily respond to growth opportunities.

Digital Mail for Lockbox

Our lockbox services offer a comprehensive, outsourced solution for managing your receivables. Rely on our vast imaging network and AI-powered intelligent document processing (IDP) to digitize your mail, process checks, and accurately extract payment data based on your specific business rules.

Digital Mail for Lockbox runs on Iron Mountain InSight^® Digital Experience Platform (DXP), a cloud-native software-as-a-service platform, and utilizes its IDP module. Working with our payment processing provider or yours, we provide image cash letter (ICL) services, including deposit, posting, and reconciliation. By acting as your single, trusted provider, we simplify your operations and reduce the need to manage multiple vendors.

Digital Mail for Lockbox empowers your organization to:

• Leverage AI-powered IDP to automate classification, document splitting, and data extraction from checks, stubs, and remittance documents, reducing manual errors and cutting operational costs.
• Accelerate cash flow by reducing mail float and expediting the collection and deposit process, giving your business faster access to funds and improved liquidity.
• Digitize and modernize at scale with our extensive facility network and industrial-grade capabilities, enabling faster processing of receivables at lower operational costs.
• Identify exceptions automatically to guarantee that every transaction complies with the defined lockbox rules. This includes verifying acceptable payees and forms of payment, as well as adherence to other specific requirements.
• Secure your end-to-end mail handling with a complete chain of custody for all incoming and outgoing mail—from tracked pickups to short- or long-term storage and certified destruction.
• Gain full transparency and audit readiness through a secure, compliant workflow that includes human-in-the-loop validation, digital archiving, and detailed reporting.
• Drive revenue growth with modern payment solutions that attract new clients and offer greater flexibility, increasing customer satisfaction.

The Iron Mountain Advantage

We offer distinct advantages to organizations in need of lockbox services. With its AI-first document processing and more than 70 years of expertise in secure information management, over 95% of Fortune 1000 companies rely on us. While competitors scale back their paper operations, we maintain over 141 US imaging centers to meet demand.

When data security and compliance are the highest priorities, we are the ideal choice. Every payment and document remains in our custody— from secure pickup to scanning within one of our state-of-the-art facilities. Digital files are stored in a protected cloud environment built on the National Institute of Standards and Technology Cybersecurity Framework, with encryption and role-based permissions you fully control.

Flexible transition options, such as site takeovers or staff rebadging, are designed to help you modernize without disrupting your operations. The approach is customized, not one- size-fits-all. Our people, processes, and technology work together to solve your lockbox challenges, allowing you to focus on achieving business outcomes.

Learn how Iron Mountain Digital Mail for Lockbox helps you cut costs, reduce errors, and improve efficiency while managing risk and compliance.