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Frameworx Process: Apply Payment LBX Reconciliation

Category: (4) eTOM Process Type

Process Identifier: 1.6.12.3.3

Original Process Identifier:

Maturity Level: 3

Description

Process for receiving payment from a wide demographic area, usually performed by an intermediary like a bank.

Extended Description

Wholesale LBX or LockBox is a service provided by banks to companies for the receipt of payment from partners/corporates/customers (not to be mixed with Retail Lockboxes which are high-volume consumer oriented payments). The process reconciles what was deposited in the bank account versus the file sent by the lockbox. A report from the bank and a report from the wholesale business or party are compared to show the currency amount and total transactions. If the two reports cannot be reconciled research is performed to see if it is a lockbox error, CSP error, deposit error, or an invalid check. Because the bank is making the collection, the funds that have been received are immediately deposited into the company's account without first being processed by the company's accounting system, thereby speeding up cash collection.

Explanatory

Mandatory

Optional

Interactions

Candidate Explanatory

Candidate Mandatory

Candidate Optional

Candidate Interactions

(4) eTOM Process Type Apply Payment LBX Reconciliation

Appears on these diagrams:

Issues

  • Business Process Framework 15.0 Modification
  • Business Process Framework 15.5 Modification
  • Business Process Framework 16.0 Addition

This was created from the Frameworx 16.0 Model


Created from the TM Forum Model Frameworx 16.0.0 on 6/13/2016 at 22:18