Handle no-remittance scenarios with automated cash application tool. Leverage AI to predict invoices as potential remittances.
Allow collectors to add remittances seamlessly through Collections Cloud or let your buyers quickly submit remittances through a portal
Reduce the manual effort required for regular customer master data maintenance through AI-based recommendations on alternate payers, payer name, bank details
Online remittance is the remittance sent by customers via emails, EDIs, or they are uploaded to customer web portals. While paying through electronic payment formats such as ACH, credit cards, BACs, customers often send online remittance. Cash Application Automation helps A/R teams to auto-capture remittance with online remittance software.
With cash application process automation, you can improve your cash application process. Cash app process automation ensures the following:
Automatic cash application means your cash application analysts don’t need to manually match open invoices to the incoming payments. The AI-based intelligent cash application software automatically matches invoices with payments.
HighRadius AI-based Cash Application systems help cash application teams accurately capture check information with their multi-OCR engines. With accurate, noise-free check remittance information capture, you can reduce 100% lockbox data capture fees.
HighRadius Cash Application software leverages AI & Machine Learning capabilities to ensure an intelligent cash application process. This cloud-based cash app tool can integrate with your existing ERP systems to provide more than 95% straight-through cash posting and faster exception handling with AI-based recommendations.