Automated Cash Allocation
Automated Cash Allocation Overview
Features
Automated Cash Allocation involves the matching of incoming payments (cheque, BACS, FPS Faster Payments Service, credit card and debit card) to corresponding debtor invoices. A manual cash allocation process involves individuals in the accounts receivable team significant amounts of time attempting to match individual payment transactions to invoices.
Our platform uses leading technologies, AI (Artificial Intelligence), Machine Learning and RPA (robotic process automation), to automate the manual steps, ensure continual self-learning for increased accuracy and predictive analytics for better identification and handling of potential exceptions.
Benefits
Cost Savings with Automated Matching
Increase Productivity with Digital Workflows
Process Insight for Informed Decision Making
Technical Details
Inputs
Bank statements, remittance advices and sales ledger data.
Outputs
Fully matched, partial matched and query items for user review.
Geographic Availability
Additional Information
Automate cash allocation to achieve accurate, same-day cash posting and highlight exceptions for early resolution. The platform will automatically ingest any form of remittance, match it to received payments and automatically apply to the ledger. This not only saves significant manual data matching time but also allows the focus of teams to shift to query resolution and debt chasing for unpaid invoices.
