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.
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.