Payments and business technology company Deluxe has partnered with IBM Consulting with a goal to transform the receivables and cash application processing landscape for corporations.

Deluxe said that the collaboration has led to a joint go-to-market agreement for providing clients with an extensive and efficient solution to enable them to optimise cash flow.

The parties aim to place the power of receivables automation and cash application processing directly into the hands of corporations. This will help in reducing overhead and increasing overall efficiency, said Deluxe.

Through the partnership with Deluxe, IBM Consulting aims to bring joint clients an end-to-end solution that addresses both technology and operations.

The new offering utilises Receivables360+, which is a new product in the Deluxe Receivables Automation product suite.

IBM Consulting general manager and managing partner Juhi McCelland said: “IBM Consulting is committed to delivering innovative solutions that help drive operational excellence and cost savings for our clients.

“Teaming up with Deluxe allows us to offer an end-to-end receivables automation solution that leverages both technology and operational capabilities to provide an innovative customer experience.”

According to Deluxe, the company deployed the new solution internally as “Client Zero” by combining the company’s receivables automation technology with support from IBM Consulting.

It has allowed both Deluxe and IBM Consulting to understand the product’s capabilities and as a result better assist clients in optimising their receivables processes.

Besides, the new solution offers a single, integrated view that helps remove the need for multiple systems.

Deluxe B2B payments president Michael Reed said: “We are thrilled to work alongside IBM Consulting to provide businesses with a solution that can help truly transform the way they manage their receivables.

“With the cutting-edge receivables automation software from Deluxe and IBM Consulting’s operational expertise, we are pioneering a holistic approach that can streamline the process to drive savings and efficiencies.”