The Phoenix-Hecht Postal Survey™ measures lockbox performance changes whether these changes result from Post Office operations,
transportation delays, mail sorting issues, a remittance processor's operational characteristics or funds availability schedules.
Results are reported in the same calendar day manner that a remittance processing customer would experience as lockbox deposit
reported on a bank statement. All significant remittance processors are measured in the survey and make their performance results
available to customers and prospects. You can request
performance results for specific processors.Request
During the ten business days of each survey (April and October), envelopes are mailed in a fashion which reflects how corporations handle outgoing mail to all participating major remittance processors from 170 originating points representing the major business centers. Strict quality controls are in place to ensure the proper accounting and tracking of each envelope during its transit through the system.
Phoenix-Hecht Postal Survey™ results are calculated using statistical techniques designed to depict trends and simulate the corporate lockbox experience. The whole day measurement is consistent with what corporations observe as the number of calendar days between the mailing date and when the deposits are reflected on their bank statement. The survey report assumes funds availability component is based on remittance checks drawn on local banks to the mail origination point. Note: The Collection Model does not use this static assumption!
The cost to move a lockbox can be a significant expense and should only be undertaken if there is a sustainable economic advantage. A decision to change a remittance location or provider should incorporate Postal Survey™ data in conjunction with a Collection Model™ analysis to best replicate the uniqueness of each company's customer base.