The Road to Smarter Cash Flow: The Rise of Electronic Payment Processing in Service Firms2 Almost every service firm faces challenges with billing, payment, and reconciliation. Clients may pay late; paper checks, lockboxes and bank trips can create sluggish cash flow; staff may spend hours they don’t have on reconciling accounts and following up on delinquent invoices. Cloud solutions have helped firms simplify collections somewhat by increasing payment options and anytime/anywhere account access. But the advent of the COVID-19 pandemic has thrown many firms into upheaval and intensified the need for better payment solutions suited to a new and remote world, increasing the focus on purpose-built cloud solution to support remote capabilities for firms. Never have service

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