Poor cash application impacts accurate cash forecasts and maintaining optimal cash flows.
This directly affects how an organization makes important decisions about its business and customers, and how it manages risk.
Key challenges associated with cash application process include:
- Data capture from emails, documents, bank files and vendor portals which is very cumbersome
- 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
Today gaining control on cash has become more important than ever. A survey conducted by The Hackett Group reaffirms this where more than 60% of the global finance leaders mentioned cash application automation as their priority.
Download this eBook to learn about how AI-driven automation tools can increase cash application performance, and achieve 90 percent or more touchless cash posting. Learn about how you can reduce time, decrease cost associated with cash application, and eliminate lockbox data processing fees. The eBook will also preview step-by-step instructions to make your digital transformation project successful.