{"id":544,"date":"2021-05-26T05:36:56","date_gmt":"2021-05-26T05:36:56","guid":{"rendered":"https:\/\/www.emagia.com\/blog\/?p=544"},"modified":"2025-01-28T22:49:33","modified_gmt":"2025-01-29T04:49:33","slug":"supercharging-cash-application-with-automation-analytics-and-ai","status":"publish","type":"post","link":"https:\/\/www.emagia.com\/blog\/supercharging-cash-application-with-automation-analytics-and-ai\/","title":{"rendered":"Supercharging Cash Application with  Automation, Analytics, and AI","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<p>Modernize cash application using the triple trifecta of Automation, Analytics and AI. Enterprises across the world are realizing the importance of transforming the archaic cash application to achieve exponential gains in cash posting.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-flat ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.emagia.com\/blog\/supercharging-cash-application-with-automation-analytics-and-ai\/#exponential-advantage-using-automation-analytics-and-ai\" >Exponential Advantage using Automation, Analytics, and AI<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.emagia.com\/blog\/supercharging-cash-application-with-automation-analytics-and-ai\/#benefits-of-ai-cash-application\" >Benefits of AI Cash Application<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Artificial Intelligence-powered Digital Technology and the proliferation of new Digital Payment modes have made rapid progress in the couple of years.<\/p>\n<p>Of all the applications of this new technology, <a href=\"https:\/\/www.emagia.com\/blog\/adding-ai-advantage-to-cash-application\/\"><strong>Cash Application<\/strong><\/a> has benefitted as much as any other operation\/process. It has come a long way from the days of OCR scanning, expensive lockbox services, ERP Auto-cash, substantial manual application of Auto-cash \u201ckickouts\u201d, and even Robotic Process Automation (RPA).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"exponential-advantage-using-automation-analytics-and-ai\"><\/span><strong>Exponential Advantage using Automation, Analytics, and AI <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>AI-driven Document Data Capture Assistants can extract most payment and remit information accurately from a wide range of formats and sources: EDI, credit &amp; debit cards, wire transfers, ACH, checks, emails, hard copy remits, and the new <a href=\"https:\/\/www.emagia.com\/blog\/digital-invoicing-and-digital-payments\/\"><strong>Digital Payment<\/strong><\/a> methods (Stripe, PayPal, Square, etc.).<\/p>\n<p>AI-driven Document Data Capture Assistants can deal with a wide range of languages, currencies, and banks. This has historically been the greatest obstacle to automating Cash Application \u2013 dealing with the wide variation in format, presentation of data, etc., of Remittance Advice.<\/p>\n<p>AI-powered <a href=\"https:\/\/www.emagia.com\/blog\/how-financial-and-accounting-digital-assistants-improve-o2c-operations\/\"><strong>Digital Assistants<\/strong><\/a> can apply cash with \u201chit rates\u201d of 90% and above, as well as create deductions. Overall, they can perform 70 to 90% of the manual operations in Cash Application, producing exponential productivity.<\/p>\n<p>Analytics quickly produce customized dashboards, identify root causes of error, and use Predictive Analytics to enable issues to be anticipated. The digital trifecta of Automation, Analytics and AI can modernize <a href=\"https:\/\/en.wikipedia.org\/wiki\/Cash_App\" target=\"_blank\" rel=\"noopener nofollow\"><strong>cash application<\/strong><\/a> for shared service operations across multiple languages, currencies, bank accounts, and ERPs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"benefits-of-ai-cash-application\"><\/span><strong>Benefits of AI Cash Application<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Using artificial intelligence (AI) in cash application, businesses can:<\/strong><\/p>\n<ul>\n<li>Achieve improved productivity in operations<\/li>\n<li>Improve speed and accuracy of applying customer payments<\/li>\n<li><a href=\"https:\/\/www.emagia.com\/blog\/the-ai-advantage-in-deductions-processing\/\"><strong>Automate deductions processing<\/strong><\/a><\/li>\n<li>Offer enhanced customer service<\/li>\n<li>Assimilate new business units into a Shared Service Organization<\/li>\n<li>Reduce bank fees<\/li>\n<\/ul>\n<p>AI powered Automation and Analytics for Cash Application is an improvement opportunity too big to dismiss as a \u201cSystem of the Future.\u201d It\u2019s here!<\/p>\n<h4><strong>Customer Success<\/strong><\/h4>\n<p>Learn how Emagia\u2019s AI-powered order-to-cash (O2C) platform helped Unisys achieve world-class efficiency in global AR operations with a real-time, 360-degree view of thousands of customers across 90 countries.<\/p>\n<p><a class=\"btn btn2 btn-primary btn-sm\" href=\"https:\/\/www.emagia.com\/collaterals\/customer-success-stories\/unisys-finance-shared-services-boost-operational-excellence-with-emagia.pdf\" target=\"_blank\" rel=\"noopener\">Download Case Study<\/a><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>Modernize cash application using the triple trifecta of Automation, Analytics and AI. Enterprises across the world are realizing the importance of transforming the archaic cash application to achieve exponential gains in cash posting. Artificial Intelligence-powered Digital Technology and the proliferation of new Digital Payment modes have made rapid progress in the couple of years. Of &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.emagia.com\/blog\/supercharging-cash-application-with-automation-analytics-and-ai\/\"> <span class=\"screen-reader-text\">Supercharging Cash Application with  Automation, Analytics, and AI<\/span> Read More &raquo;<\/a><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":1,"featured_media":3532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cash-application-automation"],"acf":[],"gt_translate_keys":[{"key":"link","format":"url"}],"_links":{"self":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":0,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media\/3532"}],"wp:attachment":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}