One objective of managing a firm's cash is to process its cash receipts as quickly as possible. Banks provide many services to process incoming payments quickly and efficiently.

Consider the case of Sandberg Industries:

Sandberg Industries owns an office building that it fents to Graham Company. Sandberg Industries and Graham have an agreement in which Graham's bank transfers the monthly rent automatically to Sandberg Industries' account.

Which cash management technique is Sandberg using?

Concentration banking

A preauthorized check

A lockbox arrangement