Bringing Electronic Payments Back from the Dark Side

Key Takeaways

Automate data extraction for emails, email attachments and website remittance
Eliminate the time and effort lost in associating electronic remittance information to the right payment
Employ an “add-on” technology solution that could be deployed with no IT involvement within months
Achieve straight-through reconciliation to close invoices in ERP systems for more than 90% of electronic payments

Speakers

Elaine Nowak, Director, Product Marketing, HighRadius

About The Webinar

Not so long ago, at credit and A/R departments not so far away, finance leaders believed electronic payments would reduce payment processing costs and effort.

Unfortunately, teams who accept electronic payments also receive non-standardized, varied electronic remittance from email, email attachments, websites and EDI. Cash application has succumbed to the Dark Side, overwhelmed by the forces of manual data extraction, payment linking, reconciliation and exception handling. Electronic payments now take longer to process than checks!

However, recent developments have awakened a new hope and enabled credit and A/R leaders to take control and automate processing for more than 90% of electronic payments. The answer was not expensive software or a Death Star-sized IT project but a simple “add-on” technology that works with existing cash application systems.

There’s no time like the present

Get a Demo of Cash Application Cloud for Your Business

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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.