Global Receivables

Optimize Working Capital with Citi®'s Receivables Solutions

Manage cash strategically and optimize working capital with Citi's global receivables solutions. Citi's solutions streamline receivables processing and increase operational efficiencies to reduce costs and help organizations achieve their financial goals.

With the rising cost and reduced availability of credit, organizations need to examine their order-to-cash cycle for opportunities to generate liquidity internally. Citi can help organizations unlock trapped liquidity with solutions that re-engineer their receivables process to increase global visibility and provide actionable intelligence. By automating and streamlining processes from electronic invoice presentment to collections, reconciliation and reporting, Citi solutions consolidate receivables, accelerate collections, reduce days sales outstanding and decrease borrowing costs.

Citi meets globally inconsistent needs with solutions that range from paper to electronic and mobile. Many solutions are offered with a host of value-added services and are compatible with local systems and technologies. Citi's receivables solutions also offer global value-added services such as dashboards, reconciliation services and analytics to provide clarity, visibility and global supervision.

Driving innovation in the receivables industry, Citi leads the way with mobile and electronic receivables solutions such as ReceivablesVision℠, Citi Present and Pay, Citi Accounts Receivable Matching Services and Mobile Collections.

With a comprehensive suite of receivables solutions, a global reach and an on-the-ground presence in 95 markets, Citi can provide innovative, strategic receivables solutions for any need in the order-to-cash cycle.

Invoice Solutions

Citi's electronic invoice solutions automate and streamline invoice processes to reduce costs, increase efficiencies and accelerate collections. Citi offers electronic invoice presentment and payment solutions for both business-to-business and business-to-consumer transactions, while Citi's mobile solution lets consumers pay bills securely from their mobile devices.

Citi Present and Pay for Consumers integrates Web, mobile and telephone payment capabilities with online bill presentment, and provides four payment channels through one platform:

  • A Web application hosted by Citi enables bill presentment and one-time or automated, recurring payments
  • A mobile channel that optimizes online bill presentment and payment content for mobile devices and includes customer alerts
  • A touch-tone telephone or interactive voice response (IVR) payment application for one-time payment initiation
  • A customer service representative (CSR) enables payment initiation by an operator

Payments can be made using ACH debits, credit cards, or debit cards. Companies can choose which access channels (Web, mobile, IVR or CSR) and payment methods to offer their customers. Full remittance detail is provided daily and can be combined with remittance data from other Citi receivables streams, including our Lockbox or Electronic Receivable Services.

Benefits of Citi Present and Pay for Consumers include:

  • Increased convenience for your customers
  • Reduced days sales outstanding and accelerated availability of funds
  • Daily transaction files uploaded directly to your accounts receivable system
  • Single remittance file that streamlines payment processing and posting
  • Complete portfolio of standard and custom reports
  • Account information that is securely stored and masked
  • Customizable solution that integrates seamlessly with your company's branding and messaging
  • Reduced capital expenditure in developing and maintaining a Web site
  • Citi marketing services to help increase adoption rates

For business-to-business transactions, billers and payers can use Citi® Present and Pay for Business to manage the entire invoice and payment cycle online, eliminating the costs of paper-based systems. Citi Present and Pay for Business accelerates collections and reduces days sales outstanding by providing a convenient online portal where customers can receive and adjust invoices, obtain approvals, authorize payments, and manage invoice inquiries.

Extracting the data from a biller's file, Citi presents the invoices on the Citi Present and Pay portal. Invoices are available for review on the day they are issued, and the payer is alerted by e-mail. Using a Web browser, the payer views the invoice and initiates payment. CIti automatically batches and transfers payments to meet the scheduled settlement date. Both biller and payer can export billing and payment information into their accounts payable or accounts receivable systems, making it unnecessary to re-key information.

With Citi Present and Pay for Business organizations can:

  • Improve cash flow visibility
  • Accelerate collections and reduce days sales outstanding
  • Reduce costs by eliminating paper-based and manual processes
  • Streamline processes and increase efficiencies
  • Integrate payments with existing systems (e.g., Oracle, SAP)
  • Make payments quickly and easily using a Web browser
  • Access 24/7 customer service

A robust electronic invoice presentment and payment solution designed for organizations in the logistics industry, Citi® Present and Pay for Logistics reduces error rates and dispute costs, streamlines review and approval, reduces days sales outstanding and frees up critical liquidity. By automating the entire payment cycle, Citi Present and Pay for Logistics eliminates the inefficiencies, costs and delays associated with paper-based systems. By enabling an online review, dispute and adjustment process, the application streamlines and standardizes invoice delivery to payees and accelerates payee approval, benefitting both carriers and freight forwarders.

Using Citi Present and Pay for Logistics, carriers can:

  • Optimize working capital by reducing days sales outstanding and improving cash flow
  • Streamline management and reconciliation in the billing/payment receipt cycle
  • Resolve billing differences online before funds are transferred
  • Improve cash forecasting
  • Open a highly secure and compliant online billing channel
  • Capture customer spending data that can be leveraged in future marketing efforts

Using Citi Present and Pay for Logistics, freight forwarders can:

  • Reduce or eliminate the costs of paper invoice processing
  • Automatically validate every invoice against receiving documents and original contract or PO terms
  • Take better advantage of payment term discounts
  • Settle inquiries and disputes quickly and online
  • Control the timing of payments
  • Keep an accurate audit trail/history of transactions
  • Streamline cash forecasting

Click here for more information about Citi's receivables solutions.

Collection Solutions

Citi's electronic and paper-based collection solutions increase efficiency and visibility, provide faster access to critical data, and make collections more predictable. Citi's electronic and mobile solutions automate the collection process to reduce processing costs, accelerate collections, improve cash flow and optimize liquidity.

Lockbox Services

The use of electronic receivables solutions is growing, but in many markets, paper-based solutions still dominate. Citi's custom, end-to-end lockbox solution serves the needs of organizations with a paper-based receivables process and includes retail, wholesale, complex exception processing and interactive services.

When linked to our comprehensive clearing network, Citi Lockbox services accelerate the collection of receivables, reducing mail float while maximizing funds availability. Companies can make multiple deposits per day, using a uniform, optimized check clearing process in each region. Our high-speed processing environment and image-based platform offer many features, including advanced reporting and image inquiry.

Citi's Lockbox services can help your company:

  • Accelerate collection processes
  • Reduce days sales outstanding
  • Optimize working capital
  • Improve management of credit exposure
  • Reduce expenses and save critical resources

Electronic Check Deposit

Citi's Electronic Check Deposit (ECD) service helps companies take full advantage of Check 21, a U.S. federal law that applies to checks issued in U.S. dollars. ECD makes the reprint of a scanned check the legal equivalent of the original paper check. With ECD, checks can be scanned in your office and the images electronically transmitted to Citi, eliminating processing costs, the need to deposit checks in person, and the expense of armored cars or overnight couriers.

Benefits of Citi's ECD service include:

  • Reduced float and presentment time
  • Accelerated payment and credit given for funds
  • Eliminate the costs of preparing paper checks for deposit
  • Eliminate trips to the bank to make deposits
  • Eliminate the expense of armored cars and/or overnight couriers
  • Improved processing efficiency: Checks are in the system the day they are sent
  • Faster notification of return items helps minimize risk

In key markets where cash and checks still play a significant role, Citi offers both a local branch solution for cash and check collections, and a vault depository solution. With our branch solution, Citi's global network of branches and multiple collection points makes it easy to make deposits quickly and efficiently.

With our vault solution, daily cash deposits are collected and taken by armored carrier to a vault in Citi's regional network. This service saves companies time and money, and provides a safer, more secure way to transport cash to and from stores, outlets, and offices.

Citi's cash and check depository services are fully integrated with direct reporting of deposits and withdrawals, which are viewable online. Citi's branch and vault services solutions make it easier to reconcile deposits made across multiple sites and geographies, allowing companies to use their resources for more productive, revenue-generating activities.

Companies using Citi's cash and check collection services can benefit from:

  • A local branch solution for cash and check collections, or the convenience of cash deposits being picked up and transported by armored carrier
  • Depository services integrated with direct reporting of deposits and withdrawals
  • Reconciled deposits across multiple sites and geographies

Direct Debit Services

Citi Direct Debit Services is a solution for clients managing a direct debit program in-house. It offers your customers a convenient payment method and accelerates receivables, improving your cash flow. Simply collect authorizations and bank account information from your customers, and send instructions to Citi to debit your customers' accounts via ACH to settle their outstanding obligations.

In Europe, Citi offers SEPA Direct Debit services, which enable cross-border and domestic collections across 32 countries by providing a single interface, infrastructure and standardized set of processes for increased efficiency.

Benefits of Citi's Direct Debit Services include:

  • Lower administration costs
  • More predictable cash flow
  • Increased accounting efficiency
  • Reduced days sales outstanding
  • Streamlined record keeping
  • Improved control and security

Incoming Wires and ACH

Citi offers a global and domestic collection solution with incoming wire transfers. For domestic wire transfers, Citi provides a full range of Automated Clearing House (ACH) solutions, including collection of consumer payments via telephone, Internet or check-to-ACH conversion, as well as payments to employees and vendors. In Europe, Citi also offers a comprehensive suite of SEPA Credit Transfer solutions. In Asia, Citi provides an eLockbox service that receives invoice information for electronic wire transfers. The information can be received from Citi's clients or their customers via fax, email, or other means, depending on the country.

ACH payment and receivables solutions can streamline payments and receivables processes for:

  • Consumer-initiated bill payments and pre-authorized debits
  • Direct deposit of payroll, pension payments and T&E reimbursements
  • Vendor payments
  • Mortgage and tax payments
  • Dividend payments

Use Citi's ACH solutions to receive payments from customers and benefit from:

  • Timely collection and improved cash flow
  • Reduced processing costs
  • Improved customer satisfaction
  • Increased security

Electronic Receivable Services

In some markets, electronic-initiated transactions have replaced paper checks as the most frequently used payment method, but many bill payment websites still convert electronic payments back into paper checks. These checks are typically processed as exceptions by your lockbox provider - costing you time, money and accuracy. Citi Electronic Receivable Services, solves this problem by keeping your electronic-initiated payments electronic. This solution uses electronic delivery to eliminate mail float and exception handling, while also providing a higher level of data accuracy. Both the funds and the data are delivered to you within one to two business days, often several days faster than if processed as paper.

Organizations can use Citi Electronic Receivable Services and benefit from:

  • Faster, more accurate collection at a fraction of the cost
  • Transaction data delivered quickly
  • Accelerated receipt of consumer payments, improving working capital
  • Reduced days sales outstanding
  • Reduced customer delinquencies and inquiries
  • Cost of processing electronic-initiated payments as lockbox exceptions is eliminated

Card Acquiring

Citi offers a comprehensive card acquiring service. Card acquiring enables businesses to accept debit and credit cards for payment and receive confirmation that the customer has a valid card and sufficient credit to cover the purchase. An important collection channel, card acquiring enables the capture of many types of sales transactions. Citi's card acquiring solution includes value added services that streamline the collection process and ensure sales are quickly converted to cash.

With Citi's card acquiring services, businesses can benefit from:

  • Dynamic currency conversion that gives customers the option of paying in the local currency, or in their own currency to eliminate confusion and possible later disputes
  • Tourist payment services that facilitate tourist spend by enabling eligible cardholders to reclaim local country tax for goods purchased
  • Electronic gift cards: Benefit from cash advances, float and value never redeemed
  • Online Web reporting of card transactions available in multiple languages

Citi's Mobile Collections provide a secure, fast and flexible way to pay an invoice through any SMS-enabled mobile phone using multiple payment methods. Replacing cash and checks, Mobile Collections use mobile phone and SMS technologies to streamline and simplify the payment process, increase transaction control and eliminate the risks associated with cash payments. Payments are made and confirmed in real-time over a secure network, reducing the potential for fraud and providing an audit trail.

Both banked and unbanked businesses can use Citi's Mobile Collections to:

  • Increase the security and safety of a business and employees by keeping less cash on the premises
  • Reduce the additional time, costs and risks involved with employee cash-handling
  • Simplify supplier payments to save time and stay focused on running the business
  • Use a more streamlined process for restocking supplies

Click here for more information about Citi's receivables solutions.

Reconciliation Solutions

Global organizations manage millions of payments received in multiple currencies via multiple instruments and channels. When payments are sent with incomplete or inconsistent remittance data, companies must manually gather information from clients and reconcile information from multiple sources - a labor-intensive and costly process.

Citi streamlines and simplifies the complexities of the accounts receivable reconciliation process, reducing administrative costs and days sales outstanding. Citi's solution consolidates, enriches and structures receivables data in one electronic file. Enrichment capabilities include a virtual account solution, an automated payer identification service available in Asia and EMEA that embeds payer information in receivables data. Citi Accounts Receivable Matching Services automatically matches payment information with outstanding open items, eliminating multiple manual processes and closing open items on the receivables ledger more quickly.

Citi extracts vital information from multiple payment modes and channels, and consolidates data in an electronic report that it uploads directly to the client's ERP system. Citi works with clients to develop parsing, or customized rules that drive the collection, enrichment and consolidation of data. Citi's advanced technology can further improve accuracy by gauging and correcting errors to ensure a higher match rate downstream.

With this solution, Citi matches receipts with open invoices, and returns an updated accounts receivable file at the client's preferred frequency. This file includes an accurate, updated list of all outstanding items, providing clear, real-time visibility into your current receivables position.

Since a company's business terms can allow for discounts, tolerances and commissions, Citi works with clients to build custom matching rules based on the specific needs and priorities of their business. Custom rules help clients achieve a higher match rate to close items quickly and reduce days sales outstanding.

As well as accelerating collections, Citi's automated matching service eliminates the costly, time consuming process of manually matching and managing receivables, freeing personnel to concentrate on more strategic or productive tasks.

Benefits of Citi Accounts Receivable Matching Services include:

  • Reduced administrative costs
  • Streamlined reconciliation process
  • Decreased days sales outstanding
  • Freeing of time and resources to concentrate on core competencies
  • Better visibility into your cash position with real-time insight

Currently available in Asia and EMEA, the Citi Virtual Account solution is an automated payer identification service that streamlines reconciliation for electronic receipts. The solution begins with Citi assigning a unique account number to a client, and the client uses its ERP system to generate individual account numbers for all of its payers. The client then shares the list of generated virtual account numbers with Citi for identification purposes.

When the payer receives an invoice, he initiates payment to the virtual account number cited on the invoice. Citi receives the payment and will match the virtual account number to the client's real account number in a fully automated process. Citi then credits the client's real account number with the payment.

Benefits of Citi Virtual Account include:

  • Fully automated payer identification service helps improve reconciliation rate
  • Embeds useful payer information in each account number
  • Eliminates the need to extract data from statements manually, freeing up resources
  • Provides real-time email alerts for incoming electronic funds transfers and exceptions

Click here for more information about Citi's receivables solutions.

Business Intelligence

Every company needs to optimize its financial performance to stay competitive. Maintaining liquidity is critical for any organization, but inaccurate forecasting based on limited visibility and incomplete data can undermine strategic financial goals. A reporting and analytical tool for receivables, ReceivablesVision℠ increases global visibility and offers faster access to relevant data. Providing analytics at-a-glance, customizable data views and custom reports, interactive tools offer near real-time insights and transform data into actionable intelligence to help companies optimize liquidity.


ReceivablesVision streamlines accounts receivable processes to optimize cash management and unlock trapped liquidity. Increased global visibility makes collections more predictable, while faster access to relevant data helps companies accelerate cash flow, execute more strategic financial planning, and optimize working capital.

Aggregating receivables data across countries, currencies and transaction types - including business-to-business payments made by EIPP, purchasing card, wire transfer or check, and consumer-to-business payments made through multiple channels - ReceivablesVision℠ delivers a consolidated view of data in an engaging, easy-to-read graphical format.

Sophisticated, user-friendly tools include powerful analytics, robust reporting, customizable alerts and automated search capabilities. Interactive, performance-based scorecards provide critical business intelligence in key analytics, snapshots of receivables data, and insights into current trends.

With ReceivablesVision, organizations benefit from:

Click here for more information about Citi's receivables solutions.

Consulting Services

Working as a trusted advisor, Citi provides consultative services to help companies optimize their working capital and cash management to achieve their financial and operational objectives. After performing a diagnostic analysis, Citi uses your empirical data to recommend solutions customized to meet your needs. Citi's multi-dimensional approach can optimize receivables by uniting fragmented processes, information and systems to unlock cash trapped and generate internal liquidity in the order to cash cycle.

Order to Cash Services

Cash can get trapped at various points in the order to cash cycle and from multiple causes, reducing liquidity and increasing working capital requirements for a company. Citi analyzes a company's systems and processes and makes recommendations for process reengineering and improvements that can help unlock trapped cash. Citi's recommended solutions can include automation of manual processes, integrated workflows and enhanced collection services. Citi also offers a customized dashboard that provides increased visibility into receivables, performance metrics and analytics.

Benefis can include:

Click here for more information about Citi's receivables solutions.

Citi Electronic Check Deposit (ECD)

The U.S. Check Clearing for the 21st Century Act ("Check 21") gives the reprint of a scanned check legal equivalence to the original paper check. That opens up opportunities for you to enjoy more efficient, more cost-effective check deposits.

Citibank Electronic Check Deposit (ECD) service is the most effective way for you to take full advantage of Check 21. With ECD, you can scan checks in your own office, then electronically transmit the images to Citi - eliminating the hassle of overnighting paper checks to the U.S. or physically preparing them and delivering them to the bank.

With Citi ECD service, you enjoy numerous benefits, including:

In offering you our Electronic Check Deposit service, Citi has partnered with an industry expert: Electronic Data Systems, Inc. (EDS). A longtime leader in bank processing, EDS adds their expertise in system development, integration and operational processing to Citi's ECD service. In addition, EDS has backup operations and disaster recovery processing so your IRDs will be cleared efficiently and accurately.

Citi Present and Pay for Consumers

Citi Present and Pay for Consumers enables your company to offer your customers Web and telephone payment capabilities, integrated with online bill presentment.

Our integrated solution enables you to offer your customers:

Payments can be made using ACH debits, credit cards, or debit cards. You can choose which access channels (Web, IVR, or CSR) and payment methods you wish to offer. Full remittance detail is provided to you daily and can be combined with remittance data from other Citi receivables streams, including our Lockbox or Electronic Receivable Services.

Citi Present and Pay for Consumers provides a variety of benefits including:

Citi Lockbox Services

If your company seeks to reduce payment float by improving receivables management, Citibank® Lockbox Services can process all your receivables quickly and accurately.

Citigroup offers this flexible solution to meet your paper-based collection needs. Our high-speed processing environment and image-based platform offer you a variety of many features, including advanced reporting and image inquiry.

Our services benefit you by:

Quality processing is the cornerstone of Citibank Lockbox Services. You can expedite collection of paper remittances and associated data from U.S. payers through five processing centers in strategic mail-time and clearing locations across the country.