In an Aite Group survey, 77% of banks cite complexity in capturing non-standard remittance formats from email, email attachments and web portals as the top roadblock to electronic remittance processing services in their cash application process. It is not surprising then that 90% of banks fear that overcoming this barrier would require significant investments to develop an advanced in-house technology solution.
The problem of e-remittance cannot be ignored. The increasing adoption of e-payments continues to exacerbate the complexity with higher e-remittance volumes, and also puts lockbox services and profitability under pressure.
Join us as we explore the technology options that could simplify e-remittance data capture and consolidation with minimal IT and capital requirements, and enhance lockbox service revenue from e-payments.
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.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
