AI-Powered Features to Automate, Simplify, and Accelerate AR Cash Application

Email Remittance Capture

Email Remittance Capture

27% of analysts’ time is spent on manually capturing & matching email remittances

  • Captures invoice data from email body & attachments
  • Supports document formats like PDF, word & Excel
  • Uses ML, LLMs & NLP to parse unstructured data
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AP Portal Remittance Capture

AP Portal Remittance Capture

Analysts spend 19% of time capturing & matching remittances on portals

  • Downloads remittance info from 500+ AP portals
  • Parses remittance data from Excel, Word, PDFs, etc.
  • Notifies on credential expiry & navigation changes
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Customer Identification

Customer Identification

Only 13% remittances can be auto matched in their current format

  • Matches remittances with open invoices in ERP
  • Splits payments by customer, order, or invoice #
  • Matches remittances with invoice #, PO #, Sales Order #, etc.
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Payment Invoice Matching

Payment Invoice Matching

87% of remittances can’t be matched in their current format without automation

  • Matches remittances with open invoices in ERP
  • Splits payments by customer, order, or invoice #
  • Matches remittances with invoice #, PO #, Sales Order #, etc.
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Deductions Coding

Deductions Coding

Analysts spend 10% of time on coding deductions

  • Detects short payments & identifies reasons
  • Maps deductions to ERP reason codes
  • Validates discounts based on payment terms
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Payment Exceptions Handler

Payment Exceptions Handler

Analysts spend 9% of time on exceptions handling

  • Assigns exceptions after matching invoices with probable remittances
  • Identifies missing remittances from past payment patterns
  • Sends emails requesting info on missing remittances
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Additional Agents | AI+Human Work Assignment | Bank Statement Download | Check Remittance Capture | EDI Remittance Capture | Payment Remittance Linking | Exception Assignment | ERP Payment Posting

See How 1300+ Enterprises Successfully Automated AR Cash Application
Case Studies for Your Industry

See how companies like Ferrero, P&G, Duracell, and Many more are optimizing working capital by 20% while Saving Over $100k in costs.

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Guaranteed Operational KPI Improvements - Not AI Hype

Product

Key Agents

  • Email Remittance Capture
  • AP Portal Remittance Capture
  • Customer Identification
  • Payment Invoice Matching

Value

Improve Operational KPIs

  • 90%+ Item Automation Rate
  • 40% Faster Exception Handling

Deliver Business Outcomes

  • Eliminate Bank Key-in Fees
  • Increase FTE Productivity by 30%

Within 6 Months, Customers Using HighRadius Cash Application Software see:

300+ Seamless Banks & ERPs Integration
30% Improvement in Analyst Efficiency
100% Elimination of Bank Key in Fees

Why We Are the Unmatched Leader in AR Automation

HighRadius, the Gartner Magic Quadrant leader in AR solutions, sets the standard, outperforming competitors and dominating the market with unmatched innovation.

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Market Leader in Office of the CFO Software

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Your Guide to Faster, Better Automated Cash Application Process

Exclusive RFP Template

Exclusive RFP Template

Streamline your vendor selection with our free Cash Application RFP template—designed to help you evaluate solutions efficiently.

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Exclusive RFP Template

Business Case Template

Build a compelling business case for Cash Application automation with our free, customizable template tailored for AR leaders.

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Pre-Built Integrations

50+ ERPs

50+ ERPs

10+ Payment Processors

50+ ERPs

100+ Banks

50+ ERPs
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FAQs: AI-Powered Cash Application Software

What is Cash Application Automation software?

Cash Application Automation software simplifies the process of three-way matching with remittances, payments, and invoices. It uses technologies like artificial intelligence and machine learning to automate this process.

  • Functionality: It performs remittance auto-matching, reducing manual effort.
  • Efficiency: Speeds up the cash application process and reduces errors.
  • Integration: Works with accounting systems for seamless operations.
  • Visibility: Provides real-time insights into payment statuses.

The cash application software improves cash flow management, reduces processing time, and enhances accuracy, making it a valuable tool for businesses.

Can the HighRadius Cash Application Software integrate with my ERP?

Yes, the Cash Application software seamlessly integrates with your ERP and supports API integration for other financial management systems. For low-volume ERP data imports, it also supports Excel and CSV formats, enabling easy extraction of accounts receivables.

How much time does it take to implement HighRadius Cash Application Software?

The implementation time for HighRadius Cash Application Software varies based on the complexity of your organization’s requirements. However, our Speed to Value methodology guarantees swift implementation and ROI realization within 3 to 6 months, setting an industry benchmark.