Despite the expanding shift to electronic payments and remittance, Lockbox processing and cash application continue to be the most manual processes in the accounts receivable space. For years, A/R Departments have had to pay for bank key-in fees or allocate resources and time on the low-value tasks required in cash application. Today, Artificial Intelligence enabled automation technology is empowering organizations to enhance standard SAP Lockbox functionality and achieve best-in-class automation rates of over 90%.
In this session, discover the best practices learned from 150+ global organizations that have been able to automate the processing of remittance across formats including check remittance, e-mail remittance, website remittance, and EDI.
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.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
