RPA vs AI for Cash Application

Key Takeaways

Compare technologies like OCR and templates with RPA and AI-based solutions
Estimate savings from 95% straight-through cash posting and reduction in lockbox key-in costs
Understand how to automate remittance capture for electronic payments from emails, customer portals and EDI files
Boost employee morale by transitioning the team from clerical work to high-value credit and collections activities

Speakers

Judy Bicking, Senior Trainer, IOFM
Elaine Nowak, Director, Product Management and Marketing, HighRadius

About The Webinar

Could AI improve the quality of your professional life?
Could a robot save you from long hours of repetitive work?

A study by AFP found that only 1 in 4 A/R teams achieve higher than 60% straight-through cash allocation rates in cash application. For every one A/R team focused on high-value credit and collections activities, there are three stuck in the weeds of reconciling payments and remittance.

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.