The most common cash management technique used to speed up collections is:

Question

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Lockboxes are the most common cash management technique used to speed up collections by having customer payments sent directly to a special post office box. The bank picks up the payments, processes them quickly, deposits them to the company's account, and provides remittance information to the company. This reduces the processing time and improves cash flow. Concentration banking, wire transfers, and in-house processing are other cash management techniques, but they are not specifically focused on speeding up collections.

The Most Common Cash Management Technique Used to Speed Up