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.

There’s no time like the present

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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.