Integrated Receivables Cloud Platform
Cash Application Cloud
Check Remittance Capture
Eliminate 100% lockbox key-in fees by auto-capturing remittance from check stubs with Artificial Intelligence-enabled, template-agnostic technology
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SAY NO TO LOCKBOX KEY-IN FEES!
Cut costs on lockbox fees
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.
Intelligently capture all remittance information for minimal exceptions
Unlike bank lockbox services, you do not need to rely on limited remittance fields for posting cash in your system.
Eliminate templates with an AI-based capture engine that grows smarter over time
Template-free technology based on AI captures all remittance details even when the check stub comes in a non-standardized or unfamiliar format.
Achieve 95% posting rate by eliminating errors associated with manual data entry
Self-learning OCR captures data with 95% accuracy, eliminating the need for exception handling when posting check payments.
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Five simple steps to process check remittances
Extract bank lockbox file and check images
Automatically aggregate bank lockbox files and check images from your bank's portal or FTP server.
Capture details from check images
Identify, classify, and extract accurate remittance data from check stubs using template-free, AI-enabled technology for a high capture rate.
Match payments with open invoices
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 and map deductions and short payments
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.
Post cash directly to your ERP
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.
This is Why A/R Teams Love Us
EmployBridge achieved $100,000 in annual savings by reducing lockbox fees.
Starbucks' cash application team achieved an 80% reduction in manual effort by automating remittance aggregation and payment reconciliation.
There's More to Cash Application Cloud
5 Cash Application Technologies Every A/R Manager Should Know
Calculate your ROI from Cash Application Automation
Datasheet : Cash Application Cloud
HighRadius's Award-winning Accounts Receivables Automation Software powers 400+ Fortune 1000 industry leaders who have optimized their Order-to-Cash process across Credit, Collections, Cash Application, Deductions, Billing & Payments. Highradius™ Autonomous Receivables, comprising of Integrated Receivables™, Rivana™ and Freeda™, uses AI-powered technology and digital assistants to improve your Receivables Management beyond best-in-class industry benchmarks.