As of 2014, more than 50% of B2B payments and remittance deliveries have shifted to electronic methods. A/R departments have successfully been using the SAP Lockbox program for partially automating cash application of paper check. In this new environment, however, cash application requires more than standard SAP Lockbox functionality as speed and efficiency are largely dependent on how A/R departments choose to automate the electronic payments and remittance, including email, attached files, web portals, and EDI.
Join us as we explore how empowering the native SAP Lockbox program with advanced automation technology can eliminate 90% of the manual work teams have to support the rising electronic volumes.
HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features which can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments.