Do More with Less: Ease Your Organization’s Growing Pains by Automating Cash Application

Do More with Less: Ease Your Organization’s Growing Pains by Automating Cash Application

About the Video:

In a Credit Research Foundation survey, 60% of the large companies surveyed had a team of 6 or more actively applying cash full time. Payment processing needs grow linearly with business growth and new customers. In response to growth, organizations add more people to process payments. However, this quick-fix solution adds significant costs and overhead without reducing errors or improving accuracy and efficiency. Additionally, cash application processes are highly monotonous as a significant portion of analysts’ time is spent in low-value manual activities, such as remittance capture and invoice matching, which leads to errors and mistakes.

Forward-thinking A/R leaders are looking at technology solutions to automate each step of the cash application process – from collecting and capturing remittance from email, files, portals, EDI and paper to matching directly to open invoices. Organizations who have deployed the latest technology have achieved 90%+ straight-through, no-touch posting rates, eliminating the need to hire and train new resources and minimizing process costs in the short and long run.

Join Jay Tchakarov, VP, Product Management at HighRadius, as he discusses the role of automation technology in cash application.

Speakers:

Jay Tchakarov, VP, Product Management & Marketing, HighRadius