Accelerate Cash Flow and Reduce Costs with Digital Payments

The pandemic has shifted customers and businesses towards a touchless, digital payments society. Digital is emerging as the latest industry trend for sending customers request-to-pay reminders and giving them access to faster, more flexible payment options.

Digital payments are not only secure and convenient but also boost revenue by accepting payments in multiple forms and currencies. The need for digital payments is increasing because they help overcome payment cycle slowdowns associated with conventional modes such as paper checks.

Watch this video to know how digital payments:

  • Drive cost, cash flow and other benefits
  • Enhance customer experience

Reducing Complexity of Cash Application in Europe with AI

If you can apply cash well in Europe, you can apply it anywhere!

Cash Application for European operations is significantly more complex than in the USA, especially for Shared Service Operations. This is because of multiple currencies & languages, integration with multiple ERPs & banks, variation in banking regulations across countries, accommodating multiple digital payments etc.

AI-powered digital assistants and document data capture methods (aka IDP) can perform 70 to 90% of the manual operations in Cash Application, generating exponential productivity.

This video will focus on:

  • Improve productivity in cash application
  • Cut down manual efforts by up to 90%
  • Assimilate new business units into an SSO

Don’t miss a chance to implement the best practices from this session in your credit department.

Digital World Class Performance of O2C Shared Services

Shared Service Organizations (SSOs) are constantly under pressure to reduce costs, improve outcomes, onboard new units, and deliver great customer experiences.

Learn about the challenges faced by Shared Service Organizations (SSOs) in achieving excellence in their Order-to-Cash (O2C) operations. Hear it from our order-to-cash transformation expert, John Salek, about the key elements of successful O2C operations at SSOs.

This video will focus on:

  • The delivery imperatives every SSO must meet
  • What world class performance looks like
  • Key capabilities required to achieve the performance demanded

B2B Credit Management in the New Normal

Credit management has intensified in the past 18 months. Though the economy is slowly rebounding from the pandemic-induced slump, managing credit risk remains a topmost priority for most businesses.

This video will focus on:

  • Shift of sales and order processing to e-commerce
  • Managing credit risk in a work-from-home environment
  • Elements of credit that can be automated with AI
  • Automating up to 80% of manual tasks in Credit
  • How AI can be used to increase healthy revenues

Don’t miss a chance to implement the best practices from this session in your credit department.

Top Technology Trend in 2021: Hyperautomation of Accounts Receivable Operations

Hyperautomation has become the latest accelerator to improve process efficiency, cut down costs, and enhance productivity. Learn how hyperautomation can drive transformational productivity in your Accounts Receivable (AR) operations.

Hyperautomation goes beyond typical automation to automate as many business and IT processes as possible. It involves the orchestrated use of tools and technologies such as Robotic Process Automation (RPA), Intelligent Document Processing (IDP), Artificial Intelligence (AI), and Machine Learning (ML).

This video will focus on:

  • The tools and technologies driving hyperautomation of AR
  • The use of digital assistants to maximize cash flow
  • The key to achieving world-class performance in AR
  • How hyperautomation can enhance customer experience

How IDP is Driving AR and AP Productivity

Is your team still reading through a huge volume of emails, PDFs and images to process unstructured data? Are you still manually keypunching the extracted data into a file or an ERP system?

Thanks to Intelligent Document Processing (IDP). These operations can be fully automated.

Learn how to leverage Intelligent Document Processing (IDP) and drive major productivity improvements in your Accounts Receivable (AR) and Accounts Payable (AP) Operations. IDP is faster, cheaper and more accurate than having humans read documents and keypunch data.

Watch this video to know how to:

  • Eliminate manual document processing and improve workflows
  • Achieve 90% and above straight-through processing
  • Enhance customer experience and satisfaction
  • Free up resources for higher-value tasks

Top Financial Use Cases for Intelligent Document Processing

Do you know you can move to a more efficient paperless environment in your financial operations using Intelligent Document Processing (IDP)?

IDP uses cognitive Artificial Intelligence (AI), Machine Learning and other related technologies to extract data from voluminous, unstructured, complex, hard copy documents. IDP eliminates the tedious manual data entry and extraction.

Intelligent Document Processing (IDP) is faster, cheaper and more accurate than having humans read and process documents. Even Robotic Process Automation (RPA) doesn’t work as well with multiple unknown document formats. IDP improves productivity for Finance departments in Claims (deductions) Processing, Accounts Payable, Order Processing and Cash Application.

Watch this video to know:

  • How IDP works
  • How to cut down manual activity and lockbox fees by 85%
  • How to use IDP in Financial Operations
  • How your company can benefit from IDP

Lockbox and Remittance Data Extraction with AI

How to automate most of the data extraction required to apply cash to your customer accounts?

Cash Application has long depended on manual efforts to read and create a file of all the remittance advice provided by customers with their payments. Data extraction from lockboxes and remittances is cumbersome and very costly for global finance and treasury services.

AI-driven Document Data Capture Assistants can extract payment and remit information accurately from a wide range of formats and sources such as EDI transmissions, hard copy remit advices, vendor portals, Customer Care/EIPP portals, and from the new Digital payment methods (Stripe, PayPal, Square, etc.). The Digital Assistants reduce labor cost to very low levels, whether in-house or with lockbox fees.

This video will focus on:

  • Automate lockbox and remittance data with 90% and above accuracy levels
  • Improve remittance process efficiency and reduce lockbox fees
  • Achieve 90% and above straight through processing
  • Enhance customer service and improve accuracy levels
  • Assimilate new business units into a Shared Services Organization

Save Lockbox Fees with Remittance Data Capture AI

Cash Application has long depended on bank lockbox services to deposit customer payments and create a file of all the remittance advice provided by customers with their payments. This file has been the key input for automatically applying cash and generating the resulting productivity improvements.

Lockbox services can be expensive as creation of the file is priced per keystroke and scanning the check and remittance advice is charged per page. For companies that have high customer counts and payment volumes, the costs can be very high, especially when the customer payments contain a large volume of smaller value payments.

AI-driven Document Data Capture Assistants can extract payment and remit information accurately from a wide range of formats and sources.

This video will focus on:

Cash Application Automation for Europe

Learn about the challenges to achieving excellence in Cash Application in Europe, and how automation can help businesses gain exponential advantage.

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. This is attributed to challenges such as multiple currencies & languages, integration with multiple ERPs & banks, variation in banking regulations across countries, accommodating multiple digital payments etc.

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 Cash Application, generating exponential gains for businesses.

This video will focus on:

  • Achieve cash application auto-match rates of 90% and above
  • Cut down manual efforts by 85%
  • Improve customer service and the overall productivity
  • Quickly assimilate new business units into a Shared Service Organization

Modernizing Cash Application with the 3As: Automation, Analytics, and AI

Cash Application has come a long way from the days of OCR scanning, expensive lockbox services, ERP Auto-cash, substantial manual application of Auto-cash “kickouts”, and even Robotic Process Automation (RPA).

Cash application can be transformed using automation, analytics and AI to match invoices to incoming payments and remittances that come in multiple channels, in various data & document formats, in many languages and currencies. This MasterClass will focus on the state-of-the-art cash application that leverages Automation, Analytics and AI to gain exponential advantage.

This video will focus on:

  • Auto-capturing of payment and remittance data
  • Achieving applied cash with hit rates of 90% and above
  • Accomplishing touchless and frictionless cash posting
  • Replacing manual operations by 90% and above
  • Understanding the role of analytics in managing cash flow

Paperless Financial Operations with Gia Docs AI

Paperless financial operations utilize cognitive Artificial Intelligence (AI) to extract data from voluminous, complex, hard copy documents. Cognitive AI data extraction is faster, cheaper, more accurate, and eliminates the tedious, error-prone manual data extraction and entry.

In this MasterClass video, we will discuss Gia Docs AI, Emagia’s cognitive data capture service with human-like cognitive skills to read, learn, understand and extract data from financial documents.

This video will focus on:

  • How paperless financial operations function
  • The use of paperless operations in cash application, AR and treasury
  • How Gia Docs increases automation in O2C processes
  • How Gia Docs AI frees up resources for higher-value tasks

Defend Your Profits with Digital Deductions

Learn how your company’s profit margin is under attack from deductions (aka chargebacks or short payments) taken by your customers. Learn the actions you can take to defend your margins from this “under-the-radar” erosion of profit.

This video will focus on:

  • The Threat to Profitability: The causes of deductions, common types, their impact on the Profit & Loss statement, and why they cannot be ignore
  • The Realities of Processing Deductions: High volumes, low proportional and absolute yields, potential for incurring high cost, and pre-empting time from sales, customer service, and credit & collections
  • How to Defend Your Company: Best practice process, automation featuring AI powered digital assistants, policy, metrics, and “education” of customers

AR in Asia: Strategic Outlook for 2021

In this video, we will assess the opportunities, challenges and solutions to managing AR in Asia in 2021

  • Impact of the covid pandemic on Asian economic growth
  • Government-supported lending and cash infusions
  • Traditional cross-border culture and business practices
  • Growth potential for e-invoicing and collection technologies
  • Level of benefits that can be achieved in 2021

Digital Invoicing & Digital Payments

Maintain a healthier cash flow with Digital Invoicing and Digital Payments.

Digital is emerging as the latest industry trend for sending the customers request-to-pay reminders and giving them access to faster, more convenient payment options. Unlike the conventional paper-based invoicing methods, digital invoices can be sent to customers on mobile and email, accepting digital payments over credit card, ACH and bank-to- bank transfers.

Learn about the latest developments in digital invoicing & digital payments for businesses.

  • Digital Invoicing
  • Digital Payments
  • Impact on customer experience
  • Financial advantage
  • Impact on cash application and accuracy of customer accounts

How Digital Assistants Improve Order-To-Cash Operations

Learn how AI powered digital assistants are helping improve order-to-cash operations and results. This technology is not a vision of the future, it is already helping many companies – TODAY !

We will discuss how digital assistants assist customers 24/7/365, and which order-to-cash operations and repetitive tasks they can perform to free up your staff for higher value add work. Few of those are

  • Credit: Facilitating and verifying on-line credit application submissions by new customers.
  • Collections: Performing “touchless” collection contacts, engaging in fully automated dialogue to secure a payment or payment commitment.
  • Cash Application: Extracting remittance data from any source in any format, and applying it to open obligations.
  • Deductions: Tracking and reporting all deductions from creation through clearing, and credit memo approval routing.

AR in Europe: Strategic Outlook for 2021

Listen to our guest speaker Chris Payne, Director of The Working Capital Consulting, talk about challenges to managing accounts receivable in Europe this year. Chris has over 35 years of experience working with leading European companies to optimize group AR management.

In this MasterClass we will assess the opportunities, challenges and solutions to managing AR in Europe in 2021.

  • The impact of the COVID on European growth – both good and bad.
  • Government supported cash flows in 2020 are moving to payback in 2021.
  • Continued low interest rates and the appetite for cash.
  • Traditional cross-border culture and credit term levels.
  • Government mandated payment terms for Suppliers.

Enhance Your Customers’ Experience with Real Time Payments

Learn what real time payments are and their advantages over traditional payment methods.

Real Time Payments (RTP), also known as Digital RTP and “Frictionless Digital Payments” are payments made directly between buyer and seller through a direct and a secure connection on an Account to Account (A2A) basis. It enables online payments from buyer to seller in a wide range of devices.

It can be a huge benefit for companies that demand payment on delivery, which is especially important in the pandemic economy (for financially weak customers) and more so in certain industries (e.g., food service).

In this MasterClass we will review:

  • Digital RTP and the customer experience
  • The direct financial advantages of digital RTP
  • Its beneficial impact on cash application and accuracy of customer accounts
  • How digital RTP combined with an AI powered digital assistant can achieve “touchless” collections

Boost Your Revenue with AI-Powered Digital Credit

For most companies, today’s economy has depressed revenue and increased credit risk. On one hand, you need to increase sales by any means possible, including finding new customers and accepting higher credit risk. On the other hand, you need to control bad debt loss and the cash shortages resulting from financially weak, slow paying customers.

One part of the solution is to maximize sales to new customers who have “reasonable” financial strength and a “tolerable” credit risk. However, your competition will seek to do the same. How can you successfully compete?

Watch our 30-minute virtual Emagia MasterClass to learn

  • How you can reduce delays in customer onboarding and boost revenue.
  • How you can reduce repetitive, manual work by 70 – 80% through automation.
  • How AI powered digital credit process can help you make faster, fact-based credit limit decisions.

Strategic AR Management

In traditional AR management the focus is on transaction processing, collections assertiveness, tight credit control and reduced headcount. However, today’s economy of lower revenue, extremely low interest rates, and management focus on the customer experience, requires a substantial change from this traditional AR management. Transaction management now needs to transform into customer management, the solution here is strategic AR management

In strategic AR management the focus is now on driving revenue and efficiency while providing exceptional customer experience. In this 30-minute Emagia MasterClass we will review actions which are part of strategic AR, such as:

  • Driving revenue growth
  • Driving margin growth
  • Providing an exceptional customer experience
  • Managing credit risk to support the firm’s trade credit strategy
  • Producing strong cash flow
  • Achieving ultra-efficiency

Five Best Practice AR Metrics You Should Track

“You can’t manage what you don’t measure” is a widely-accepted rule for managing any operation or process. Makes sense, but which and how many individual metrics should be measured to monitor the health of the accounts receivable (AR) asset and operations?

Watch this 30-minute virtual Emagia MasterClass with John Salek, our Order-to-Cash expert, to learn about the five accounts receivable (AR) metrics you should be tracking.

Our MasterClass discussion will focus on:

  • The objectives of AR reporting
  • The absolute need for a fully consolidated view of every penny of open AR
  • The 5 essential AR metrics you should be tracking
  • The best way to compile and report metrics in today’s world
  • How to drive improvements in your order fulfillment, customer experience, cash flow, bad debt risk and staff productivity

Digital B2B Credit Best Practices

Learn about the current best practices in B2B credit management

Credit management best practices have changed substantially in 2020. Three disruptive forces, driven by the Covid economy, are converging to seriously impact credit Risk, revenue, and the financial health of your company.

  • Credit risk has increased tremendously & threatens your firm’s cash flow and profitability. The workload to manage this increased risk will increase by 200 – 500%
  • Work from home can easily reduce productivity, effectiveness and management visibility, just when it’s needed the most.
  • A shift of sales and order processing activity to E-commerce demands fast, accurate credit approvals for both new & existing customers.

The solution is to:

  • Review your operations to ensure the fundamental best practices of credit management are being properly used.
  • Automate transactional credit functions to increase the quality, speed, and to cope with the increased workload cost effectively.

In this MasterClass order-to-cash expert, John Salek will discuss how AI automates 70 – 80% of manual work in credit vetting, setting credit limits, and enforcing credit controls. We will also review the productivity and gross profit benefits available and a customer success story.

The AI Advantage In Deductions Processing

Learn how Artificial Intelligence (AI) can reduce manual work in deductions processing by over 80%. Deductions processing is a necessity but is also a low value activity. Over 95% of deductions are valid, resulting in issuing a credit to clear them from the accounts receivable ledger. The invalid deductions are difficult to collect from customers. A CFO’s reaction to this process is usually, “I don’t want to hire 6 people to issue credit memos”. However, if invalid deductions are not challenged, they will increase in frequency and value, significantly reducing gross profit margins.

The solution is to research and resolve deductions of significant value in a fast and efficient manner. AI is the key to achieving this solution.

Our focus will be on the elements of deduction resolution that can be automated with AI. Learn from our order-to-cash expert, John Salek about how AI automates:

  • Obtaining required information about a deduction (amount, reason) from multiple sources (vendor portals, remit advice, debit memos, emails, etc)
  • Routing the deductions to the designated resolver via a full featured workflow
  • Auto matching of deductions and their credits
  • Tracking and monitoring
  • Root cause analytics

We will also review the productivity and gross profit benefits available and a customer success story. Attendees will increase their knowledge on how to deliver these benefits to their organizations.

Four Essentials Of Digital Cash Forecasting

Learn about how to forecast cash flow more accurately. Our focus will be on forecasting cash inflow from Accounts Receivable (AR) which is the largest operational source of cash for most companies. Learn from our order-to-cash expert, John Salek about the key elements and tools available to greatly improve the accuracy and timeliness of cash inflow from AR. The essential elements are:

  • Consolidation of AR data across divisions and ERP’s
  • Predictive Modeling
  • Analysis and Simulation
  • Tracking and Monitoring

We discussed how incentives for Collectors improve cash flow forecasting accuracy. In the current pandemic economy, Credit Departments face extreme pressure to deliver and predict cash flow, to enable disbursement controls and cost-effective borrowing. Attendees will increase their knowledge on how to deliver these benefits to their organizations.

High Touch to Hi-Tech: The Journey to Touchless Collections

Learn how to implement “touchless” collections for the multitude of small and medium (SMB) size customers. In this session our order-to-cash transformation expert, John Salek will talk about

  • The traditional approach to collections from SMB accounts
  • Elements of “touchless” collections
  • The tools required to successfully implement “touchless” collections

In the current pandemic economy, credit departments face extreme pressure to deliver cash flow, manage credit losses, and cut cost. Learn how going hi-tech can contribute to meeting these objectives.

Integrated Order-to-Cash (OTC) Transformation for Global Shared Service Organizations

Learn about the challenges faced by Global Shared Service Organizations (SSO’s) in achieving excellence in their Order to Cash (OTC) operations. Hear from our order-to-cash transformation expert, John Salek about the key elements of successful OTC operations at SSO’s.

  • The three delivery imperatives every SSO must meet
  • Digital essentials required to meet the performance demanded
  • The role of 3A’s – Automation, Analytics and AI in meeting the requirements

SSO’s face pressure to deliver performance beyond that achieved by the decentralized organization. Learn how to make this happen.

3 Reasons for B2B Digital Credit Amidst Covid and Beyond

Learn about the changes impacting B2B credit teams and how you can plan for the future amidst COVID & beyond. Listen to our order-to-cash transformation expert, John Salek talk about the 3 business reasons for digital credit transformation

The digital future is here and is dramatically different from yesterday’s cash application processing. Learn and lead your team with confidence.

Driving Exponential Efficiency in Cash Application with AI

Learn from the order-to-cash expert John Salek about digital fundamentals of the next-generation cash application solutions.

The digital future is here and is dramatically different from yesterday’s cash application processing. Learn and lead your team with confidence.

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