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

  • 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
  • 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
  • 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.

  • 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
  • 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





Trusted by 1K+ happy customers

"Our accounts teams are delighted with the time & effort saved, and there are much fewer instances of accounting errors. AlgoriQ has automated every step of the reconciliation process, including identification of commission & deductions, accounting them into respective ledgers, and transferring entries to payables."

"Global PayEX’s AlgoriQ helped us in discovering a new way of doing reconciliation with our channel partners. In just the last two quarters since we implemented the platform, it has already improved efficiency by more than 50% by eliminating the manual tasks."

"Our digital collections went from 22% pre-Covid-19 to 80% in March 2021. We unlocked around €7 million in cashflows over 9-months period by adopting FreePay. We have reduced its day sales outstanding (DSO) or the average time taken to get paid after invoicing by 6 days."

"Global PayEx's fintech-powered solution has fully digitized our workflows, alleviating our treasury team from traditional manual practices to better focus on core strategy planning, to further grow the business."

"We have been using FreePay since 2017 and the improvement and efficiency it has brought in our collections and account receivables management has been remarkable. It has helped deliver electronic invoices to our Channel Partners in real-time, and process payments with all our business terms plugged in."

"FreePay has digitized our invoice presentment, automated payment processing and taken care of our end-to-end customer account reconciliation. Our dealers appreciate the solution for its completeness, ease of use and transparency in doing business."

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

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.

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

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

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] .

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.

Case Studies

Our Trusted Partners

Want to fast track your cash flow and grow your top-line?