AI-enabled OCR captures check remittance data automatically, removing any dependency on bank lockbox services or in-house resources for key-in, thereby reducing costs.
Unlike bank lockbox services, you do not need to rely on limited remittance fields for posting cash in your system.
Template-free technology based on AI captures all remittance details even when the check stub comes in a non-standardized or unfamiliar format.
Self-learning OCR captures data with 95% accuracy, eliminating the need for exception handling when posting check payments.
Automatically aggregate bank lockbox files and check images from your bank's portal or FTP server.
Identify, classify, and extract accurate remittance data from check stubs using template-free, AI-enabled technology for a high capture rate.
Match payments to invoices even in the most complex scenarios across industries including complex parent-child relationships, pre-payments, installments, and matching by non-invoice reference numbers.
Identify deductions at the source based on short-payments or over-payments. Assign ERP-specific reason codes by auto-mapping customer provided reason codes to your internal reason codes.
Generate enriched files in formats that are compatible with any ERP including SAP, Oracle, MS Dynamics, Infor, Sage and other legacy systems and post cash directly to the system, eliminating time and productivity loss from manually changing file formats.