{"id":552,"date":"2021-06-08T04:24:37","date_gmt":"2021-06-08T04:24:37","guid":{"rendered":"https:\/\/www.emagia.com\/blog\/?p=552"},"modified":"2025-01-28T22:49:33","modified_gmt":"2025-01-29T04:49:33","slug":"challenges-to-cash-application-automation-in-europe","status":"publish","type":"post","link":"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/","title":{"rendered":"Challenges to Cash Application Automation in Europe","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<p>Cash application automation for Europe is a challenge because cash application for European operations is significantly more complex than in the USA, especially for Shared Service Operations that serve multiple economies in greater Europe.<\/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\/challenges-to-cash-application-automation-in-europe\/#why-cash-app-automation-is-a-challenge-in-europe\" >Why Cash App Automation is a challenge in Europe?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/#modernization-is-the-key\" >Modernization is the Key<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/#data-capturing-with-ai\" >Data Capturing with AI<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/#using-ai-in-cash-application-businesses-can\" >Using AI in cash application, businesses can:<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/#customer-success-achieving-world-class-cash-application-performance\" >Customer Success: Achieving World-class Cash Application Performance<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"why-cash-app-automation-is-a-challenge-in-europe\"><\/span><strong>Why Cash App Automation is a challenge in Europe? <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Some of the reasons for the challenges behind the cash app automation in Europe include: multiple currencies and languages, integration with multiple ERPs, utilization of multiple banks, variation in banking regulations and operations across different countries, accommodating digital payments, maximizing remittance information from customers\u2019 vendor portals, and Customer Electronic Invoice presentment and Payment (EIPP) portals.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"modernization-is-the-key\"><\/span><strong>Modernization is the Key<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div id=\"edge\">\n<div class=\"event-video-block event-video-block1 mb-4\">\n<div class=\"image-block general-banner-image\">\n<div><img decoding=\"async\" class=\"img-fluid screenshot\" src=\"https:\/\/i.ytimg.com\/vi\/_Nr8HlJCTps\/maxresdefault.jpg\" alt=\"Challenges to Cash Application Automation in Europe\" width=\"1280\" data-src=\"https:\/\/i.ytimg.com\/vi\/_Nr8HlJCTps\/maxresdefault.jpg\" \/><\/div>\n<\/div>\n<div class=\"video-iframe\"><\/div>\n<\/div>\n<div><script>$(document).ready((function () { $(\".event-video-play1\").click((function () { $(\".event-video-block1 .event-video\").addClass(\"show\"), $(\".event-video-block1 .image-block\").addClass(\"hide\"); return $(\".video-iframe\").html('<iframe id=\"youtubeVideo1\" width=\"auto\" height=\"auto\" class=\"inline-frame\" src=\"https:\/\/www.youtube.com\/embed\/_Nr8HlJCTps?start=1&#038;autoplay=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe>'), !1 })) }));<\/script><\/div>\n<\/div>\n<p>Modernizing the cash application can enable businesses to address all these challenges and achieve a high auto-cash hit rate. AI-powered document data capture tools and digital assistants can perform up to 90% of the manual operations in <a href=\"https:\/\/www.emagia.com\/blog\/supercharging-cash-application-with-automation-analytics-and-ai\/\"><strong>Cash Application<\/strong><\/a>, generating exponential gains for businesses.<\/p>\n<p>Artificial Intelligence powered digital technology and the proliferation of <a href=\"https:\/\/www.emagia.com\/blog\/digital-invoicing-and-digital-payments\/\"><strong>new digital payment<\/strong><\/a> modes have made rapid progress in the past couple of years and can help meet the challenges of applying cash in Europe.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"data-capturing-with-ai\"><\/span><strong>Data Capturing with 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, paper documents, scanned images, emails, vendor and Customer Care portals, and the new Digital payment methods (Stripe, PayPal, Square, etc.). They can deal with a wide range of languages, currencies, and banks. This has historically been the greatest obstacle to <a href=\"https:\/\/en.wikipedia.org\/wiki\/Automated_cash_handling\" target=\"_blank\" rel=\"noopener nofollow\"><strong>automating Cash Application<\/strong><\/a>: dealing with the wide variation in format, presentation of data, etc. of Remittance Advice.<\/p>\n<p><strong><a href=\"https:\/\/www.emagia.com\/blog\/how-financial-and-accounting-digital-assistants-improve-o2c-operations\/\">AI-powered digital assistants<\/a><\/strong> can apply cash with \u201chit rates\u201d of above 90%, as well as create deductions. Overall, they can perform 70 to 90% of the manual operations in <a href=\"https:\/\/www.emagia.com\/products\/cash-application\/\"><strong>Cash Application<\/strong><\/a>, producing exponential productivity.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"using-ai-in-cash-application-businesses-can\"><\/span><strong>Using AI in cash application, businesses can:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Eliminate manual lockbox remittance, payments data entry and document handling<\/li>\n<li>Automate matching and posting straight through invoice-to-receipts<\/li>\n<li>Automate <strong><a href=\"https:\/\/www.emagia.com\/blog\/the-ai-advantage-in-deductions-processing\/\">deductions processing<\/a><\/strong> and resolve them through workflow<\/li>\n<li>Access self-service digital portals with voice and chat bots<\/li>\n<li>Reduce bank fees and the associated manual activities<\/li>\n<li>Improve customer satisfaction and build customer loyalty<\/li>\n<li>Demonstrate success with reliable cash flow, which can be used as working capital<\/li>\n<\/ul>\n<div><img decoding=\"async\" src=\"https:\/\/www.emagia.com\/blog\/wp-content\/themes\/mainblog\/assets\/images\/using-ai-in-cash-application-in-your-businesses-can-do-these.jpg\" alt=\"Using ai in cash application in your businesses can do these\" \/><\/div>\n<h2><span class=\"ez-toc-section\" id=\"customer-success-achieving-world-class-cash-application-performance\"><\/span><strong>Customer Success: Achieving World-class Cash Application Performance <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"mb-3\">Learn how a global medical supplies company is using Emagia AI-powered Cash Application in their global AR operations to achieve 90% and above auto-cash posting.<\/p>\n<p><a class=\"btn btn2 btn-secondary btn-sm\" href=\"https:\/\/www.emagia.com\/world-class-digital-order-to-cash-transforming-accounts-receivables-for-the-new-normal\/\" target=\"_blank\" rel=\"noopener\">Watch Video<\/a> <a class=\"btn btn2 btn-primary btn-sm\" href=\"https:\/\/www.emagia.com\/collaterals\/ebook\/world-class-digital-order-to-cash-transforming-accounts-receivables-for-the-new-normal.pdf\" target=\"_blank\" rel=\"noopener\">Download eBook<\/a><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>Cash application automation for Europe is a challenge because cash application for European operations is significantly more complex than in the USA, especially for Shared Service Operations that serve multiple economies in greater Europe. Why Cash App Automation is a challenge in Europe? Some of the reasons for the challenges behind the cash app automation &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.emagia.com\/blog\/challenges-to-cash-application-automation-in-europe\/\"> <span class=\"screen-reader-text\">Challenges to Cash Application Automation in Europe<\/span> Read More &raquo;<\/a><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":1,"featured_media":2877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-552","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\/552","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=552"}],"version-history":[{"count":0,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media\/2877"}],"wp:attachment":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media?parent=552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/categories?post=552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/tags?post=552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}