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Emagia AI-powered Cash Application is a cloud-based solution that easily integrates with leading banks, electronic lockboxes and ERPs. This intelligent solution leverages automation, analytics and AI to match invoices to incoming payments and remittances that come in multiple formats, in various data & document formats, in many languages and currencies.

Why Automate Cash Application?

Cash posting is often expensive, time consuming and error-prone. Before automation, accounts receivable (AR) professionals were caught up in the outdated paper-based processes that involved manually matching payments and remittance information. The inefficiency in this tedious process often had serious impact on businesses since a “fully paid” customer may continue to receive late notice reminders, while another customer is marked “paid” while no funds have been received from them.

Why Automate Cash Application?
Emagia Advantage in Cash Application

Emagia Advantage in Cash Application

Emagia’s AI-powered Cash Application puts AI to work to eliminate inefficiency in your cash application process. Using the solution, you can cut down the manual efforts associated with data capture and auto-matching by over 90%, and speed up cash posting directly into your ERP system. The solution resolves any discrepancies on cash receipts with automated dispute resolution. It uses artificial intelligence to understand customer payment trends, predict cash flows, create and manage cash flow strategies for the new normal.

Whether the challenge is automating the AR process, minimizing manual errors and costs, reducing the time between paying and posting, or automating the cash application without using a single piece of paper, Emagia can help you achieve exponential gains in the Cash Application process using artificial intelligence (AI).

Solution Highlights

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Cognitive Remittance Data Capture

Automate data capture from cheque images, lockbox files, email remittance PDFs and bank statements in multiple languages

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Banking Integrations

Pre-build integration with over 170+ global and local banks, Open banking APIs, BAI2, MT940, EDI data formats.

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Global Payor/payee Relationship

Complex third-party payment relationships across customers from multiple entities and from multiple ERPs

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AI-driven Cash Application

Auto-match invoice-to-receipts and posting automation using AI/ML and pre-built hundreds of rules.

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Digital Assistant Gia for Cash Application

Automated digitally assisted voice, chat and email correspondence to customers to collect remittance information

 

Add AI-powered Cash Application to Your ERP System

Oracle logo
SAP logo
netsuite logo
jdedwards logo
people soft logo
microsoft dynamics logo

Gain Exponential Advantage in Cash Application

Gain Exponential Advantage

High Match Rates

Achieve industry-leading intelligent auto match rates of 90% and above

Touchless Data Capture

Auto capture global payments, remittances and lockbox data touchless by over 97%

Intelligent Exception Handling

Resolve exceptions and disputes with smart suggestions

Multi Language, Currency, ERP Support

Support invoices across, multiple ERPs, multiple languages, multiple currencies

Reduce Overheads

Reduce manual labor and free up resources for more strategic tasks

Improve Cash Flow Forecasting

Gain necessary intelligence to create short-term and long-term cash flow strategies

Customer Success Stories

Case Study

Unisys

Driving world-class efficiency in global accounts receivables operations spanning across

90
Countries

1000
Customers

170+
Connected Banks

Case study

ConvaTec

Achieving world-class digital Order-to-Cash performance globally in 15 months

$4 Billion
In Receivables

44
Countries

> 90%
cash app rates

Speed up Cash Application with AI

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Frequently asked questions

Cash application is a process that involves matching all incoming payments to the corresponding invoices/customer accounts, and remittances. Unless this mapping is done and cash is posted in the ERP, funds will not be available for use in the business. Cash application is a key part in the Accounts Receivable process.
Some of the key challenges associated with cash application process include:

  • Data capture from emails, documents, bank files and vendor portals which is very complex
  • Matching invoices to receipts is often complex and time consuming involving several rules
  • Data entry and posting into different ERP systems is very tedious and error-prone
A critical advancement in technology for cash application is the utilization of Artificial Intelligence (AI). AI-powered cash application software can help achieve 90% and above touchless straight through cash posting while drastically reducing the time and effort involved with manual cash application processing. AI can automatically extract remittance data from multiple sources in many different formats, handle data entry and auto-apply the payments to open invoices. This is a giant leap in the evolution of cash application.

Emagia AI-powered Cash Application Solution puts AI to work to eliminate inefficiency in your cash application process. Using this intelligent cash application software, you can auto-match payments to invoices and remittances, and speed up cash posting directly into your ERP system. The intelligent cash app software resolves any discrepancies on cash receipts with automated dispute resolution.

Emagia Cash Application solution can read the remittances from BAI2, EDI 823, multiple customer formats.
Sources of payments can be Open Banking APIs, Banking Portals, SFTP Sites etc.
Emagia Cash Application solution handles remittances from e-mails as body content and attachments, AP Portals, Customer Portals and SFTP sites.
Gia, Emagia’s Cognitive Digital Financial Assistant, extends support to gather the remittance information directly from the customer.
The solution is capable of aggregating and extracting information from various payment and remittance sources and match against open invoices. The solution extends this through customer and invoice identification algorithms that operate at multiple levels. At the invoice level, options to match based on alternate reference, partial/truncated invoice numbers are part of the matching capabilities.
For On-account/ Unapplied Payments, the solution provides suggested matches from the open invoices of the customer based on algorithms enabling faster exception handling.
Yes, it handles cross currency matching
In a typical B2B environment, matching payments to invoices and remittances is complex. Because payments and remittance advice notes come in many channels, in various formats, in multiple document types, across countries and regions and in many languages and currencies. All this adds up the complexity of cash application, making the process of applying cash error-prone, inefficient and time-consuming.
More than 90% of the B2B transactions are made on credit. The faster a supplier applies cash, the faster they can use the funds back in business, the faster they can replenish the credit. Even though a buyer makes a prompt payment, if there is any delay in the supplier’s cash application process, credit will not be replenished for the buyer until the payment is mapped to the outstanding invoice and remittance, and cash is posted. This translates to a lost opportunity for both the buyer and the supplier. This is where automation of cash application helps.
Emagia Cash Application supports multiple payment formats including BAI2, MT940, bank lock box check images, multiple bank statements and Open Banking APIs.
Emagia Cash Application Solution can be integrated with multiple ERPs including SAP, Oracle, JD Edwards, MS Dynamics, Netsuite.
The output from the system can be directly integrated with reconciliation systems, GL systems such as ERP systems, Blackline systems.
As of now, the Emagia Cash Application solution supports document processing across 15 different languages including English, French, German, Polish, Italian, Spanish, and Portuguese.
Emagia Cash Application offers the option to match the existing credits vs. debits for any customer.
Gia Payments—powered by Emagia’s AI-powered Digital Payment Assistant Gia –enables customers to make digital payments and quicker cash application
The system supports ACH, Direct Debits, Credit Card, Debit Card, SEPA debits and other international modes.

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