30 Minutes to Better AR: Eliminate Your Bank Key-In Fees & Reduce Your Cash Application Cost by 40% in 3 months

Key Takeaways

Make sense of bank key-in fees and identify ways to reduce them.
Understand bank lockbox services, advantages and disadvantages and trade-offs when costs are factored in
Take advantage of artificial intelligence to capture data from all your paper remittances, eliminating the need to key-in manually
Capture remittance information from emails without any manual effort
Apply all the cash on the same day with 90%+ hit rate
Minimize bank key-in fees with technology-based automation

Speakers

Jay Tchakarov, AVP of Product Management, HighRadius

About The Webinar

Cash application is one of the most manual, repetitive, error prone, and low value tasks in the accounts receivable department. Cash application teams are required to reconcile remittance information from thousands of customers, in various formats, and manually apply cash in the system, preventing the realigning of resources from low value tasks to high value tasks such as collecting payments due and resolving disputes. To handle the workload many companies have opted to outsource the manual remittance keying part to their bank. Although it reduces the manual task, the data keyed in by the bank is error prone and companies end up paying banks a very high cost for the service.

In this webinar, we will review new advances in artificial intelligence technology and how it is now possible to automatically capture remittance information at a fraction of bank cost and are now able to save thousands of dollars every month.

There’s no time like the present

Get a Demo of Cash Application Cloud for Your Business

Request a Demo

HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features which can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments.