3 Cash Application Best-Practices

Key Takeaways

Reduce A/R operating costs by cutting down the lockbox data key-in fee by 85%.
Achieve 40% faster claims and disputes resolution and improve collections efficiency by 30%.
Focus time and FTEs on value-add processes by achieving 95% auto cash posting and minimizing exceptions handling.
Automate e-remittance data aggregation across emails, websites, and EDI files and leverage the speed and cost advantages of electronic payments.

Speakers

Elaine M. Nowak, Director of Product Management HighRadius

About The Webinar

Cash application is an often-neglected process in many companies. The impact of an inefficient cash application process transcends beyond delayed payments processing, high operational costs and poor working capital management. It also results in:

Unwarranted collection calls and low collector productivity
Poor credit utilization
Higher claims and dispute resolution time

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.