Manual invoice matching and deduction coding often lead to slow cash posting.
Your analysts still need to review invoices line-by-line and match them to payments received from the bank.
Additionally, your cash application teams encounter exceptions such as incomplete invoice numbers or complex parent-child scenarios for large, global enterprises.
HighRadius Cash Application Cloud helps you to achieve up to 95% straight-through cash posting. Cash Application Cloud automatically matches open invoices with payments received, even at a line-item level.
In case of an incomplete or missing invoice number, Cash Application Cloud leverages AI capabilities to match invoices to payments using non-reference data such as sales order numbers and purchase order numbers.
Cash Application Cloud automatically maps customer reason codes into ERP-specific reason codes without any manual intervention.
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Cash Application Cloud supports all types of payments such as checks, wire transfers, ACH, credit cards, debit cards, SEPA direct debit, GiroPay.
HighRadius Cash Application Software helps you significantly reduce your lockbox data capture fees by accurately capturing check remittance data with AI-based multi-OCR engines. The scanned check image quality is enhanced with AI capabilities by ensuring minimal noise.
Cash application is not complete until the payments are successfully posted to ERP. HighRadius Cash Application Software enables integration with your legacy systems and existing ERPs like SAP, JD Edwards, MS Dynamics, Infor, NetSuite & others, each with their unique configurations.
HighRadius Cash Application Cloud is highly configurable. Based on your business requirements, Cash Application Software can support various payment file formats(BAI2, MT940) and 20+ remittance formats(CSV, Excel, JPEG). Additionally, Cash Application Cloud supports 10+ Latin and Non-Latin languages.
HighRadius Cash Application Software enables the end-to-end automation of the cash application process to help you achieve 95% straight-through cash posting and 100% savings in lockbox data capture fees. With automated remittance data capture, AI-based invoice matching with payments, and deduction coding, your analysts can focus on exception handling. Cash Application Cloud simplifies exception handling with the help of AI-based exception handling recommendations.