Integrated Receivables Cloud Platform

Automated Invoice Matching for Integrated Receivables Powered By AI

Automatically match payments with open invoices the same day they're received, every time

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Automated Invoice Matching for Integrated Receivables Powered By AI solutions diagram

ENABLE SAME-DAY CASH POSTING!

Benefits

  • Achieve 95% posting rate with AI-enabled invoice matching at a line-item level

    Map the open invoices with the payments received at the line-item level, identifying deductions, discounts, and any inconsistencies for individual line-items.

  • Apply cash accurately even with incomplete or incorrect data

    In the absence of an invoice number, leverage the AI-based A/R matching to match payments to open invoices using non-reference data (such as Sales Order number, Purchase Order number, or shipment details), partial/truncated reference numbers.

  • Stay prepared for complex payment scenarios across industries

    Automatically match payments to invoices even in the most complex scenarios including complex parent-child relationships, pre-payments, installments, and alternate payers.

How to get started

1. Extract payment files from banks for checks and e-payments

Pull EDI and Lockbox files from all your banking partners and consolidate in a single repository.

2. Capture remittances across multiple sources and link them with payments

Pull remittances coming in through scanned check stubs, through email, or hosted on customer websites or A/P portals and link them with the corresponding payments

3. Match payments with open invoices using three-way match

Close open invoices by linking data captured from the payment, remittance, and ERP A/R extract

4. Identify and map deductions
and short payments

Identify deductions taken on payments based on short-payments or over-payments and assign them a reason code your ERP understands.

5. 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 in manually changing file formats.

This is Why A/R Teams Love Us

HighRadius Customer: Johnsonville Sausage
Speed : The cash application team at Johnsonville Sausage reduced the time spent on cash posting from 40 hours to 17 hours with 80% of the dollars applied without any manual intervention.
HighRadius Customer: Johnson & Johnson
Productivity : Johnson & Johnson achieved 95% auto-posting of payments.

There's no time like the present

Get a Live Demo of AI-Based Cash Application Software for Your Business

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