Cash Application Management
2X Exception Productivity. Auto-suggest remittances, request for remittances via email, and guided exception handling.
Solve missing remittance issues. Predict remittance details from past payment patterns.
Request for remittances via email.
Resolve exceptions faster. Auto-assign exception payments to an analyst’s worklist.
Maintain accurate customer profiles. Update MICR and hierarchies based on payment history.
This e-book will walk you through the options for processing checks on the parameters of processing cost, check float reduction and resource requirement.
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Read on to find out how Artificial Intelligence and Cloud-Based Machine Learning can help you cut down costs, effort and time!
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This package contains an excel sheet and an ebook for A/R leaders for justifying a business case in an automated cash application system.
Download the TemplateException management software is a tool that helps businesses handle payment discrepancies, known as exceptions, efficiently. Exceptions occur when a payment doesn’t match the corresponding invoice or when remittance details are missing. This software automates the process of identifying, tracking, and resolving these exceptions, reducing manual work.
By using AI-based solutions, it can predict missing payment details, request remittances, and assign unresolved issues to the right team members. Exception management software simplifies the entire process, saving time and improving the accuracy of payment handling, making it easier for businesses to manage cash flow.
An exception management system works by automatically identifying payment mismatches or missing remittance details from the invoices. Using AI, the software can predict remittance information based on past payment patterns and request remittance details from customers via email.
Once an exception is detected, the system assigns it to an analyst’s worklist for resolution. This process reduces the need for manual intervention and ensures quicker issue resolution. The software also updates customer profiles by tracking payment histories and automatically correcting any discrepancies. Overall, it streamlines the payment process and ensures smoother cash management for businesses.
Exception management software benefits businesses by automating the time-consuming process of handling payment discrepancies. It reduces the need for manual work and speeds up issue resolution, improving efficiency.
With AI-powered features like remittance prediction and automated worklists, the software helps resolve exceptions faster. It also minimizes errors, leading to more accurate payment tracking and reporting. Additionally, by maintaining accurate customer profiles and cash application automation, the software helps businesses make better financial decisions. Ultimately, it saves time, reduces operational costs, and enhances overall financial performance.
An Exception Management System is important for businesses because it simplifies the handling of payment issues. Payment discrepancies, such as missing remittance details or mismatched payments, can disrupt cash flow and lead to financial instability. This system automates the resolution process, ensuring faster and more accurate payment handling.
By using AI to predict missing payment details and assign unresolved issues to the right team members, it reduces manual work and ensures quick resolutions. This efficiency improves the business’s financial operations, minimizes the risk of errors, and maintains smooth relationships with customers.
Exception Management Software drives business outcomes by improving efficiency, accuracy, and cash flow. It automates the resolution of payment discrepancies, speeding up issue handling and reducing the workload for finance teams.
By using AI to predict missing remittance details and request information from customers, it ensures that payments are processed quickly and accurately. The software also updates customer profiles, leading to more informed financial decisions. With faster resolutions and improved accuracy, businesses can maintain steady cash flow, reduce operational costs, and enhance overall profitability, making it a crucial tool for financial management.
The exception management software automates remittance requests by emailing customers a list of open invoices, making it easy for them to select and provide the necessary remittance information.
The payment exception worklist automates the assignment of exception payments to analysts, streamlining business process exception management and improving overall productivity.
The software provides recommendations for maintaining customer profile attributes, such as parent-child relationships, by analyzing past payment behaviors, enhancing exception-based management.
Exception management software uses AI to handle exceptions efficiently with auto-suggested remittances, email requests, and guided exception handling, ensuring smooth operations and reduced manual effort.
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