Unbundled Payment Remittance Processing

Faster Processing of Decoupled Payment-Remittance with Pre-Built AI-Algorithms

Automatically links and processes Unbundled Electronic Payments and Remittances through parameters like Customer#, Invoice Number, Payment Amount, etc., with the help of various pre-built algorithms. Remittances for electronic payments are received separately via email or websites in advance, 2-3 days before appearing on the bank statement, where our automated cash application solution links and processes the decoupled email remittance to the accurate payment amount and sends it to ERP for auto-application.

Increase efficiency with Decoupled Payment Remittance Matching

• Remittances for most electronic payments are provided separately via email or portals, arriving a few days before appearing on the bank statement.
• Our cash application solution uses pre-built matching algorithms to automatically match every remittance against the corresponding payment as they come in(based on parameters like Payment Reference, Payment Date, Customer, and Payment Amount, etc.).

Avoid errors with Pre-built Invoice matching Algorithms

• Using pre-built algorithms, our cash application software can match invoices to remittances based on several parameters, including Invoice#, PO#, Item#, etc.
• Through AI, the system can identify situations and extract the correct invoice number even when customers provide only a portion of the invoice(such as the first few digits), which is typically insufficient for ERPs.

Smooth Payment Tracking with Customer Identification Algorithms

• Using AI algorithms, identify the customers that made the payment by auto-matching unique customer details like Magnetic Ink Character Recognition (MICR)/International Bank Account Number (IBAN).
• The system identifies the customer paying through other methods like Invoices Being Paid, Payer Name, and E-Mail Domain from which the remittance is received, etc.