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Payables Performance Tracker

The Phoenix-Hecht Payables Performance Tracker™ is the industry standard measurement which demonstrates the substantial float advantage controlled disbursement accounts have over regular demand deposit accounts. The Tracker also measures corporate satisfaction with the operational characteristics and fraud prevention features offered by the providing bank. This comprehensive evaluation of the CDA product offering gives corporations a unique perspective from which to evaluate.

For participating banks during the August survey, checks were drawn on one or more controlled disbursement points as well as a regular DDA location. Phoenix-Hecht deposited these checks in selected major lockbox cities and bank branch locations. Because banks limit the presentment window for CDA accounts and do not allow debiting against the account after the daily funding requirement has been reported to the corporation, CDA accounts are exempt from the late evening posting of image exchange items. Payables Performance Tracker uniquely measures the ultimate value of this to the corporation.

In the survey, lockbox simulated deposits are timed to represent normal deposit patterns experienced by corporations and to make the bank's major availability deadlines. The low-dollar, branch/remote deposits are timed to make each deposit site's deadline for end-of-business day activity. These checks often experience longer clearing times than the lockbox deposits. Clearing times are expressed as the average calendar days from day of deposit to day of debiting at the drawee account.

Performance measures for Controlled Disbursement timeliness and consistency of notification, as well as Positive Pay effectiveness and overall product satisfaction are taken from the bank’s results in the Phoenix-Hecht Treasury Management Monitor/Quality Index. The results shown in this report represent an average for both middle market and large corporate clients. The measurement of the Positive Pay approval window results from RFI’s submitted by the banks.

How to Use the Payables Performance Tracker

The report will be used in RFP’s, proposals, and sell sheets, for clients and prospects of providing banks, to demonstrate the bank’s proficiency in Controlled Disbursement and Positive Pay. Equally significantly, the Performance Tracker's charts clearly demonstrate the underpublicized float advantage of using Controlled Disbursement versus regular DDA.

Sixty-one percent (61%) of all corporate payments from companies with over $20 million in sales continue to be made by check. Additionally, 16% of large corporates and 13% of the middle market plan to add positive pay in 2017. Controlled Disbursement should be part of that plan.

You can request performance results for specific processors.