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John M. Massey, senior vice president and treasurer at Dallas-based ClubCorp, didn’t want much; he just wanted to shave a day or two from the five to seven he had to wait before funds would become available on the bulk of his monthly accounts receivable so he could start investing the funds sooner. At ClubCorp, a $1 billion leisure and recreation business that operates resorts, golf and dining facilities, roughly 40% of its $70 million in monthly A/R comes from dues and usage fees paid by its 200,000 members. Until last year, that meant mailing out paper bills each month, collecting the checks that members either mailed in or dropped off at the business office of one of ClubCorp’s 160 properties and then having the on-site accounting manager at each property take them to a local bank for deposit.

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