Summary-4
Read on to find out how Artificial Intelligence and Cloud-Based Machine Learning can help you cut down costs, effort and time!
Summary
Automating cash application is not only easier and faster to achieve, but also results in achieving high level of automation and significant resource savings. Armed with the information and resources within this book, you should be able to identify the right technology mix that will help you optimize your cash application process and meet your business objectives. Here is a brief summary of the important points we covered:
Use AI-Powered Optical Character Recognition
This will help you automate your check remittances. Not only will this enable cost savings but also help realize significant improvement in automation rates. 
Focus on Automating E-Mail Remittances
This is a low-hanging fruit that can provide significant ROI and tremendous reduction in the cash-application effort. 
Stop Manually Accessing Customer Websites for Data
Use Smart Web-Aggregation Technology to automatically capture all remittance related information from your customers? portals. 
Don?t Build EDI Templates for each of your Customers
Build a single, generic EDI Reader that can process various types of EDI remittance formats and file types. 
Deploy Business Rules to Reduce Errors in Cash Application
Use Business Rules to cleanse data, ensuring invoices are closed in the system with minimal or no human intervention.
