Cash Application Management

Deduction Auto Coding

Reduced Revenue Leakage. Pre-built algorithms to automate the coding of deductions and discounts.

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Key Features

AI-based E-Mail Remittance Capture

Reason Coding Library

Pre-built library of reason codes to identify customers' short-pay reasons and convert to ERP-specific reason codes.

AI-based E-Mail Remittance Capture

Automated Discount Handling

Algorithms to handle 20+ discount scenarios. Ex: 2% discount if customers pay within 15 days.

AI-based E-Mail Remittance Capture

Automated GL Write-Off

Configurable rules to write off items such as bank fees, FX, and low-dollar deductions to specific GL accounts.

400+ Enterprise Customers

Enterprise Customers

600+ Mid-Market Customers

Enterprise Customers
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Recommended Resources

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How North American SMBs Could Save More than $1.3 Billion in Lockbox Fees

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Cut Down Costs, Efforts and Time: 5 Ways to Automate Cash Application

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Business Case Template For Cash Application Automation

This package contains an excel sheet and an ebook for A/R leaders for justifying a business case in an automated cash application system.

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FAQs: AI-Powered Cash Application Automation Software Systems

What is Cash Application Automation software?

Cash Application Automation software automates the process of matching incoming payments with outstanding invoices using AI and machine learning. Automated Invoice Matching Software reduces manual effort, enhances accuracy, and offers real-time cash flow insights for faster and more accurate allocation of payment.

What are the benefits of Cash Application Solution?

Cash Application Solution helps you achieve faster and more accurate cash posting, save on the bank lockbox key-in fees, eliminate the hassle of manually collecting remittance data, and thus, increases cash app analyst productivity.

How does HighRadius Cash Application Automation Software help you achieve 90% automation at item level?

With AI-based Automated Invoice Matching, HighRadius Cash Application Automation Software automates 95% of the manual effort of matching emails to payments while extracting the remittance information from the email body and attachments and matching the invoices referenced to the correct ones within ERP.

What are the best features of HighRadius Cash Application Automation Software?

HighRadius Cash Application, an AI-powered invoice matching platform, automates remittance data extraction from check images, attachment and portal. It identifies customers via invoice details, banking info, and email domains, while AI-driven exception management suggests actions for unmatched payments.

How does the solution support exception handling?

An invoice reconciliation software consumes past payment behavior and suggests remittances for customers who paid without one. It automatically sends email requests to customers to select the right invoices. Once confirmed, it automatically applies the cash and closes the line-items in your ERP.

What are the supported formats for payments and remittances?

Cash Application Automation Softwares supports multi-bank Connectivity - with the ability to process industry standard payment formats - EDI, BAI, BAI2, CAMT, MT940, CSV, from global banks.

How many banks does HighRadius currently integrate with?

HighRadius offers pre-built integrations with 100+ global banks including Bank of America, JP Morgan, CITI, Scotia, Wells Fargo, to name a few, to automatically receive and extract payment/remittance information from bank statements and checks. It can process 60+ currencies globally.

How does HighRadius Cash Application Software compare to alternative solutions?

HighRadius Cash Application Software utilizes AI and ML for Remittance Aggregation & Exception Handling, trained on $10.3 trillion financial data. AI-Remittance Capture extracts remittance info from Emails, Attachments & Checks and Exception Management predicts missing remittances.

How much IT involvement is needed to maintain a Cash Application Software?

The right Cash Application Software requires minimal IT involvement. With seamless plug-and-play integration into ERPs using real-time APIs and Hex (SFTP) connectors, along with pre-built modules and industry-specific best practices, customers can deploy remotely with ease, reducing all IT dependencies.

How does HighRadius Cash Application Software handle data security and privacy?

HighRadius Cash Application Software prioritizes data security and privacy, adhering to stringent industry standards such as GDPR, ISO, PCI DSS, HIPAA, and SOC. We use strong encryption and role-based access controls to protect your financial data, ensuring confidentiality and compliance.

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