Cash Application – Reconciliation

Automate Cash Application with proven ML matching algorithms to achieve 95%+ straight-through cash posting direct to ERP

Cash Application – Reconciliation

Automate Cash Application with proven ML matching algorithms to achieve 95%+ straight-through cash posting direct to ERP

Cash Application – Reconciliation

Automate Cash Application with proven ML matching algorithms to achieve 95%+ straight-through cash posting direct to ERP

Trusted by top brands

This is the main product headline
introducing our features

Features intro Headline
and its a short one

Auto-read and interpret remittance / payment advice and bank statements across ALL formats

Capture remittance advice data across formats accurately, e.g., Excel, PDFs, emails

Identify reasons for short payments directly from the remittance advice

Auto-extract payments across bank statement formats, e.g., BAI2, MT940, CAMT

Automate 3 way matching with AI-driven auto-match engine

Match invoices to receipts and remittance advice to increase AR efficiency

Capture document reference numbers across invoices, receipts, and bank statements for a seamless audit

Enable exception-based reporting by an intelligent grouping of records into fully reconciled, partially reconciled, and unreconciled

Facilitate straight-through cash posting across ALL major ERPs

Enable auto-posting by integrating across ERPs, e.g., SAP, Oracle, Dynamics 365, Acumatica, Sage and many more!

Automate ERP postings specific to your business workflows, e.g., partial payments, create debit notes, offset credit notes, etc.

Configure auto-match parameters such as cash discounts, rounding thresholds, and FX adjustments.

Enable seamless deduction management with in-built workflows

Categorize deductions by the customer and map to ERP-specific reason codes

Set deduction thresholds to highlight discrepancies and track deductions

Deduction Approval and Dispute workflows to claim back improper deduction

Enable auto-matching of deductions to credit memos, reduce manual efforts

Enable intelligent exception-driven reporting and analytics

Send automatic reminders in case of missing payment advice or receipts from customers

Support workflows for exception scenarios through a unified AR portal

Track customer payment trends to enable more accurate cash flow forecasting

Benefits

100%

95%+

100%

Trusted by 1K+ happy customers

Frequently Asked Questions

100% reduction in Payment Advice processing time

Eliminate time spent to read and interpret payment advices to match line-items against ledger

95%+ decrease in time spent on ERP postings

Reduce manual intervention for ERP postings for day-to-day payments

100% visibility and transparency

Provide real-time insights via Live Dashboard to all key stakeholders with complete audit trail

What makes Cash Application challenging?

In a typical B2B environment, matching payments to invoices and remittances are shared via multiple channels in various formats, across countries, languages and currencies. As a result, Accounts Receivables Teams spend lots of time capturing data from remittance advice, matching invoices to receipts and posting back to ERPs.

What formats does the Cash Application solution capture?

Our Cash Application module processes multiple formats of remittances through Machine Learning Models. Typical formats include PDF, JPEG, Excel, CSV, email notifications, etc.

How is AI/ ML used in the Cash Application process?

AI/ML is used to auto-extract data from payment and remittance advice, identify relevant deductions, and take action based on learned behavior if chosen by customers (e.g., offset dues with credit notes where partial payments are received)

How much is IT involvement required?

We primarily require IT to access the open AR extract and the bank payment file, typically a week’s effort spread across the implementation.

What is the project timeline?

The project timeline depends on the complexity of the scope. The Cash Application module can be live in ~2 weeks with standardized payment advice, such as from Amazon.

How does the software handle data security and privacy?

Security is paramount to each of our customers as it is to us. We strictly follow all Industry standards and best practices. We are SSAE16 Soc I Type II certified, PCI-DSS Compliant and CSA Registered.

What is the pricing for your software?

Typically our pricing has two components: one-time setup fees and a monthly recurring subscription fee. For more information, drop us a message at [email protected] .

We collect funds through a consortium of banks – can this solution work for me?

Yes, absolutely. With our clients’ consent, we can read bank statements across banks in multiple formats, such as BAI2, MT940, and CAMT53, to provide comprehensive Cash Applications.