Breaking the Bank: How Your A/R Team Could Eliminate Lockbox Fees and 90% Payment Processing Tasks

Key Takeaways

Diagnose the cash application process to identify low-value tasks suitable for automation

Benefit from faster ACH paying customers and remove issues with remittance information

Reduce A/R operation costs by eliminating bank lockbox data key-in fees

Optimize downstream A/R processes such as collections and deductions management by more speedy and complete cash application

Achieve zero-touch automation of payment processing and cash posting with NACHA’s Preferred Partner technology for cash application

Elaine Nowak, Director, Product Management and Marketing, HighRadius

Breaking the Bank: How Your A/R Team Could Eliminate Lockbox Fees and 90% Payment Processing Tasks

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.