High-speed Invoice Matching for Optimized Inbound Payments
Customer payments come in all kind of different formats such as bank statements, remittance advices, lockbox and check images making the reconciliation process labor-intensive and error-prone. In addition to banking communication, the increasing usage of payment service providers by customers adds further complexity to cash applications processes. If you want to optimize your liquidity and working capital with swift and precise cash application while reducing risk and DSO, there is no alternative to automation.
Serrala Cash Application solution reaches highest possible levels of automation rates and efficiency gains for matching all payments against open items, intelligently recognizing and consolidating all common formats from banks and customers while simultaneously integrating all payment information into one process for matching purposes. Utilizing embedded robotic process automation and machine learning capabilities our solution improves the accuracy of the clearing process, making repetitive and manual activities obsolete and enabling accountants to focus on more sophisticated and high-value tasks.