4 Steps to Automate Email Remittance Processing by 95%

4 Steps to Automate Email Remittance Processing by 95%

About the Video:

With more than 95% of all payments being processed electronically, Cash Allocation teams across the UK and Europe are faced with the problem of processing remittances which are inadequate and dissociated from their payments. Their problem is further compounded by the increasing volume of foreign receivables which result in wide variety formats of payments and remittances.

Credit and A/R teams still spend endless hours processing the electronic payments such as BACS, SEPA manually, exposing the gap between the expectations and the reality of electronic payments. With electronic payments, electronic remittance is decoupled, presented without a standard format, and received from various sources such as emails, fax, EDI and external websites. This results in credit and A/R teams spending considerable manual effort to capture and interpret remittance information, link it to the right payment and match it to the right invoice.

Speakers:

Jay Tchakarov, VP, Product Management, HighRadius