Mark Harrison, Founder & CEO, Callisto Grand
Sam Dhingra, Director Solution Engineering, HighRadius
Buying and Implementing Technology for Treasury Professionals
Cash reconciliation is the business process that verifies the cash balance in a register at the close of business. While bank reconciliation compares a business’s bank statement with your internal general ledger, cash reconciliation compares cash balance and cash receipts with one another.
Cash reconciliation is crucial to accurate bookkeeping. It also helps businesses detect employee theft and improve cash forecasting. Other benefits of accurate cash reconciliation include:
Sage Intacct, being an ERP solution that primarily helps unite business workflows needs to be augmented with out-of-the-box solutions to improve cash reconciliation and other AR processes.
While Sage Intacct offers strong reconciliation features to match bank records with your books, it needs enhancements when it comes to other forms of payments like checks and part-payments.
AR automation capabilities: Existing reconciliation processes in Sage AR require you to supplement them with manual remittance gathering efforts. It also needs additional support for gathering data from multiple sources such as emails, email attachments, checks, customer portals, and account payable networks.
Add on services needed: Lockbox services are offered by banks to ease the flow of business transactions for your AR teams. However, these services are usually expensive.
Improve cash reconciliation in Sage Intacct by connecting it with end-to-end adaptive AR automation solutions like RadiusOne. Our app enables automated cash reconciliation across diverse payment formats and remittance sources including emails and web portals using automated invoice matching and short-payment identification.
RadiusOne also helps mid-sized businesses continuously monitor customer credit risks and perform effective collections.
Click here if you’d like to know more about our product.
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Get a Demo of RadiusOne A/R Suite for Your Business
The HighRadius RadiusOne AR Suite is a complete accounts receivable’s solution designed for mid-sized businesses to put their order-to-cash on auto-pilot with AI-powered solutions. It leverages automation to fast-track key accounts receivable functions including eInvoicing & Collections, Cash Reconciliation, and Credit Risk Management powered by RadiusOne AR Apps to improve productivity, maximize working capital, and enable faster cash conversion. Affordable, quick to deploy, and functionality-rich: it is pre-loaded with industry-specific best-practices and ready-to-plug with popular ERPs such as NetSuite and Sage Intacct. The HighRadius RadiusOne AR Suite is designed to automate labor-intensive processes while streamlining credit and collections activities for faster AR processing, better cash flow and improved profitability.
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