5 Threats to Cash Application: How OCR Can Jeopardize Your KPIs and Targets
Webinar: 5 Threats to Cash Application: How OCR Can Jeopardize Your KPIs and Targets
About the Video:
Optical Character Recognition (OCR) technology has long been the only option for A/R Departments looking to reduce manual cash application tasks of reading remittances and posting cash. OCR-based solutions claim efficiency increase and high automation rates. However, those who have experienced OCR first-hand know that such claims are far from reality. OCR is just ‘eyes without a brain’ and requires frequent manual intervention to handle exceptions and create new templates for each customer remittance variation.
Jay Tchakarov, AVP of Product Management, HighRadius