Most receivables teams relate to a rise in electronic payment volumes to a decline in payment acceptance costs. However, manually processing remittance from emails, email attachments, EDI files, and customer websites increases the costs of processing electronic payments.
The credit and A/R team at Danone faced similar challenges with their cash application process. By automating the payment reconciliation process by 90%, the payment acceptance costs were lowered.
View this webinar to learn about the integrated receivables technology deployed by Danone for same-day cash application. They did this while freeing up resources for high-impact processes in collections, credit and dispute management and reducing DDO by 55%!
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.