Lockbox Item Processing Hold Over Rate
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Lockbox Item Processing Hold Over Rate. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Lockbox Item Processing Hold Over Rate?
The number of payments not processed on the same day they were received divided by the total number of payments received over the same period of time, as a percentage.
Why should Lockbox Item Processing Hold Over Rate be measured?
Lockbox Item Processing Hold Over Rate measures the number of payments not processed on the same day they were received in relation to the total number of payments received over the same period of time. A relatively high value for this metric is typically related to a few common factors, including highly manual (i.e., error and rework prone) lockbox processes and procedures (e.g., manual documentation scanning and data entry, etc.), general inefficiencies within lockbox processes (e.g., untimely documentation scanning, inefficient backup processes concerning lockbox data, sub-par lockbox activity supervision, poor customer communications concerning which lockbox would be more efficient for the customer, etc.), and sub-par lockbox employee training and performance. Each of these factors can increase customer frustration and attrition rates.
Download a Sample Lockbox Item Processing Hold Over Rate
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