5 Reasons Robots Should Handle Cash Application

Key Takeaways

Achieve 95% no-touch cash posting for checks and ACH payments
Estimate savings from cash application automation
Automate remittance capture from email, EDI and customer portals
Reduce bank lockbox costs by 42%
Boosting employee morale by transitioning team from clerical work to high-value credit and collections activities

Speakers

Tanmay Mehra, Sr. Solution Architect, HighRadius

About The Webinar

A 2017 NACHA-CRF survey indicates that only one in four cash application teams is able to achieve 60%+ automation in cash reconciliation and teams lose valuable time on redundant tasks such as:

Correcting errors and missing data in bank lockbox files for check payments
Capturing remittance information from diverse remittance sources and formats used by different customers
Manually matching a large volume of payments with open A/R
Cash Application teams at Danone and several other Global 2000 companies already work with bots in the cash application process and achieve 95% straight-through cash posting.

In the upcoming webinar, join Tanmay Mehra as he discusses how machine learning and robotic technologies could help eliminate redundant manual tasks, apply cash faster and handle the growing workload at a fraction of the costs.

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.