Making Sense of OCR: Cash Automation, Templates, Artificial Intelligence & Rules

Key Takeaways

Understand the 6 stages of the cash application automation process - remittance and payment aggregation, payment-remittance linking, data extraction, invoice matching, deduction coding, exception-handling and cash-posting to ERP
Map the costs and automation opportunities of these stages to your business process
Identify the key technologies that enable automation at each stage
See-through the smoke-screen of sales presentations and get to bottom-line facts
Measure real automation rates to be able to compare apples to apples across options

Speakers

Jay Tchakarov, AVP of Product Management, HighRadius Corp.

About The Webinar

Over 40% credit and Accounts Receivables departments are evaluating Optical Character Recognition (OCR) to automate payment processing and cash application – one of the most manual, time-consuming activities in the receivables function. However, accounting and finance leaders often find the fine print surrounding OCR technology, its capabilities and its application and usage quite overwhelming. Decision-makers are tasked with making technology investments while considering the business implications related to the use of templates, rules-based management and advanced technologies like Artificial Intelligence – technologies that are often misrepresented and misunderstood.

In this webinar, we will cover data aggregation and extraction technologies, including OCR templates and Artificial Intelligence as well as explore data enhancement and auto-posting capabilities such as Invoice Matching and Deduction Coding rules.

Join us as we break down the cash application automation workflow and evaluate different technologies for each step of the process to enable comprehensive decision making.