Cash application refers to the process of matching incoming payments to the correct customer accounts, transactions, and invoices. This process is critical for effective management of accounts receivable and forecasting cash flow for businesses of any size. Proper and timely cash application helps businesses streamline their payment processing, reduce manual errors, and enhance overall financial operations.
Despite the importance of cash application, the process can be intricate and challenging, particularly for companies handling a large number of transactions. This guide provides a comprehensive overview of cash application, highlighting its significance, challenges, best practices, and recent trends and advancements in the field. Additionally, the guide offers recommendations on how businesses can optimize their financial operations and improve their bottom line by streamlining the cash application process.
What is a Cash Application?
Cash application refers to the process of precisely matching incoming payments to customer accounts, transactions, and invoices. It is a crucial component of the accounts receivable management process and plays a significant role in maintaining accurate cash flow projections. Cash application is indispensable for businesses of all sizes, ranging from small startups to large enterprises, to guarantee timely and precise payment processing and efficient cash management solutions.
In essence, the cash application process involves recording incoming payments, reconciling them with outstanding invoices, and allocating them to the appropriate customer accounts and transactions. This process enables businesses to maintain precise records of their accounts receivable, minimize manual errors, and enhance their overall financial operations. A well-executed cash application process can help businesses streamline their payment processing and enhance their cash flow, particularly for those handling a substantial volume of transactions.
To simplify the process, many businesses use cash application software that automates the matching and reconciliation of payments with outstanding invoices and transactions. These software solutions can help businesses improve the accuracy and efficiency of their cash application process, reduce manual errors, and free up staff time for other critical tasks.
Cash Application Process – The Steps Involved
The cash application process refers to the steps involved in applying incoming cash or payments received from customers to their respective accounts or invoices. This process ensures accurate and timely recording of payments in the company’s financial records. Here are the typical steps involved in the cash application process:
1. Receive Payments
The process starts with receiving payments from customers through various payment methods such as checks, electronic funds transfers (EFT), credit card payments, or online payment platforms.
2. Record Incoming Payments
The next step is to record the details of the incoming payments, including the amount, payment date, customer information, and any relevant payment references. This information is typically entered into the company’s accounting or financial management system.
3. Reconciliation
In this step, the received payments are reconciled with the outstanding invoices or accounts receivable records. The cash application team compares the payment details with the customer’s outstanding invoices to ensure accurate allocation.
4. Identify Unapplied or Partial Payments
Sometimes, payments may not match a specific invoice or may be only partially applied to an invoice. In such cases, the cash application team identifies unapplied or partial payments and takes necessary actions to resolve discrepancies or allocate payments correctly.
5. Allocation and Application
Based on the reconciliation and matching process, the cash application team applies the received payments to the corresponding customer accounts or invoices. This involves allocating the payment amount to specific invoices, marking them as paid, and updating the customer’s account balance.
6. Documentation and Reporting
Throughout the cash application process, it is crucial to maintain proper documentation and records of all transactions. This includes creating receipts, updating payment logs, and generating reports on applied payments, unapplied payments, and accounts receivable status.
7. Follow-up and Issue Resolution
In some cases, discrepancies or issues may arise during the cash application process, such as payment disputes or errors. The cash application team works closely with the customer service or accounts receivable department to resolve these issues and ensure accurate application of payments.
8. Reconciliation with Bank Statements
Finally, the applied payments are reconciled with bank statements to ensure the accuracy of the cash application process. Any discrepancies or variances are investigated and resolved promptly.
By following these steps in the cash application process, businesses can maintain accurate financial records, minimize errors, and provide excellent customer service by ensuring timely and correct allocation of payments.
Why is The Efficiency of a Cash Application Process Important in Your Business?
The effectiveness of the cash application process is vital for businesses, regardless of their size, as it involves matching incoming payments to the appropriate customer accounts, invoices, and transactions. This process is a critical aspect of managing accounts receivable effectively and helps ensure accurate cash flow predictions. In this blog, we will delve into the reasons why having an efficient cash application process is crucial for the success of your business.
1. Timely payment processing
Efficient cash application processes ensure timely payment processing, which is crucial for maintaining a healthy cash flow. A delay in cash application can lead to delayed payments, which can cause cash flow problems and affect the financial health of the business.
2. Reduced manual errors
Manual cash application processes are prone to errors, which can lead to incorrect allocation of payments and cause confusion for customers. Automating the cash application process can reduce the risk of errors, improve accuracy, and ensure that payments are allocated correctly.
3. Improved customer satisfaction
Streamlined cash application processes can help improve customer satisfaction by ensuring that payments are processed accurately and on time. This can lead to a better customer experience and help build stronger relationships with customers.
Effective cash application processes can lead to cost savings by reducing the need for manual labor and eliminating errors. This can help businesses to improve their financial performance and reduce the risk of financial losses.
Challenges With an Inefficient Cash Application Approach
An inefficient cash application process can create a multitude of challenges for businesses. Cash application is an essential part of the accounts receivable process, and inefficient processes can lead to delayed payments, customer dissatisfaction, and inaccurate cash flow forecasting. In this blog, we will explore some of the challenges that businesses may face with an inefficient cash application approach.
1. Payment Processing Delays
Inefficient cash application processes can lead to delayed payment processing. This can result in delays in cash inflows and affect the overall financial health of the business. Delays can also lead to a poor customer experience, which can negatively impact customer relationships.
2. Increased Manual Labor
Manual cash application processes are time-consuming and labor-intensive. With an inefficient approach, businesses may need to allocate more resources to cash application, which can lead to increased costs and reduced profitability.
3. Inaccurate Payment Allocations
Inefficient cash application processes can lead to incorrect payment allocations, which can cause confusion for customers and affect customer satisfaction. Incorrect payment allocations can also lead to accounting inaccuracies and inaccurate cash flow forecasts, which can negatively impact the business’s financial health.
4. Difficulty in Tracking Payments
Inefficient cash application processes can make it challenging to track payments accurately. This can lead to difficulties in identifying trends and payment patterns, which can affect the business’s financial decision-making process.
5. Poor Financial Visibility
Inefficient cash application processes can result in poor financial visibility. This can make it difficult for businesses to assess their accounts receivable and overall financial health accurately. This lack of visibility can negatively impact decision-making and make it challenging to optimize cash flow forecasting.
Problems With a Manual Cash Application Process
Manual cash application processes can create several challenges for businesses. These processes involve manually matching incoming payments with open invoices, posting payments to the appropriate customer account, and reconciling discrepancies between the payment and invoice. In this blog, we will explore some of the problems that businesses may face with a manual cash application process.
1. Time-Consuming
Manual cash application processes are time-consuming and require significant human resources. With a manual process, businesses must allocate a considerable amount of time and resources to match payments with open invoices, post payments, and reconcile discrepancies.
2. Prone to Errors
Manual cash application processes are prone to errors. With manual processes, there is a higher chance of human error, such as posting payments to the wrong customer account or incorrectly allocating payments to invoices. These errors can lead to accounting inaccuracies and negatively impact the business’s financial health.
3. Inefficient Manual
Cash application processes are inefficient. With manual processes, businesses must handle each payment individually, which can slow down the cash application process. This can result in delayed payment processing, which can negatively impact the business’s cash flow.
4. Limited Scalability
Manual cash application processes are not scalable. With manual processes, businesses must allocate additional resources to handle an increase in payment volume. This can lead to increased costs and reduced profitability, limiting the business’s ability to scale.
5. Poor Visibility
Manual cash application processes can lead to poor visibility. With manual processes, businesses may not have real-time visibility into their cash flow or accounts receivable. This can make it challenging to make informed financial decisions and negatively impact the business’s overall financial health.
Adopting an Automated Cash Application Process
Adopting an automated cash application process can bring several benefits to businesses. An automated process involves using technology to match incoming payments with open invoices, post payments to the appropriate customer account, and reconcile discrepancies between the payment and invoice. In this blog, we will explore some of the advantages of adopting an automated cash application process.
1. Time-Saving
An automated cash application process can save businesses time. With an automated process, businesses can process payments faster and with greater accuracy. This can free up resources to focus on other critical tasks, such as customer service, sales, and operations.
2. Reduced Errors
An automated cash application process can reduce errors. With automation, businesses can reduce the risk of human error, such as posting payments to the wrong customer account or incorrectly allocating payments to invoices. This can lead to more accurate accounting and financial reporting, reducing the risk of financial penalties and loss of business.
3. Increased Efficiency
An automated cash application process can increase efficiency. With automation, businesses can process payments more quickly, reducing the time it takes to match payments with open invoices and post payments to the appropriate customer account. This can improve cash flow and reduce the time it takes to reconcile discrepancies.
4. Scalability
An automated cash application process is scalable. With automation, businesses can handle an increase in payment volume without the need for additional resources. This can help businesses to grow and expand without the risk of increased costs or reduced profitability.
5. Improved Visibility
An automated cash application process can provide better visibility into a business’s cash flow and accounts receivable. With automation, businesses can have real-time access to information about incoming payments, outstanding invoices, and payment discrepancies. This can help businesses make informed financial decisions and improve their overall financial health.
What is an Automated Cash Application Process?
An automated cash application process involves using technology to streamline the process of matching incoming payments with open invoices, posting payments to the appropriate customer account, and reconciling discrepancies between the payment and invoice. In a manual cash application process, payments are often received in various formats and methods such as checks, ACH, wire transfers, and credit cards. A manual process requires staff to manually match payments with open invoices, post payments to the appropriate customer account, and reconcile discrepancies, which can be time-consuming and prone to errors.
An automated cash application process uses software that can automatically extract relevant data from the payment, such as the amount and the customer’s information, and match it with the appropriate open invoice. The software can also automatically post the payment to the customer’s account and reconcile any discrepancies, reducing the need for manual intervention.
Automating the cash application process can provide several benefits to businesses. It can save time and resources by reducing manual data entry and reducing the time it takes to match payments with open invoices. It can also reduce errors and improve accuracy by eliminating manual data entry and reducing the risk of errors such as posting payments to the wrong customer account or allocating payments to the wrong invoice, so invoicing mistakes that can cost you big money over time. Additionally, an automated cash application process can provide better visibility into a business’s cash flow and accounts receivable, enabling businesses to make informed financial decisions and improve their overall financial health.
To implement an automated cash application process, businesses can invest in cash application software solutions that offer automation features and integrations with their accounting systems. These solutions can be customized to fit the specific needs of the business and can help businesses optimize their cash application process for improved financial health.
What Are The Benefits of Automating Your Cash Application Process?
Automating your cash application process can provide several benefits to your business, including:
1. Improved Efficiency
Automating the cash application process can save time and resources by reducing manual data entry and minimizing the time required to match payments with open invoices. This, in turn, can help to improve your business’s overall efficiency and productivity.
2. Reduced Errors
Manual data entry and processing can be prone to errors, such as posting payments to the wrong customer account or allocating payments to the wrong invoice. Automating the cash application process can help to reduce these errors, resulting in better accuracy and more reliable financial data.
3. Enhanced Visibility
Automating your cash application process can provide better visibility into your business’s cash flow and accounts receivable. This, in turn, can enable you to make more informed financial decisions and improve your overall financial health.
4. Improved Cash Flow
By automating your cash application process, you can accelerate the payment posting process, reduce the time it takes to match payments with open invoices, and reduce the likelihood of errors or discrepancies. This, in turn, can help to improve your cash flow by ensuring that payments are processed quickly and accurately.
5. Better Customer Experience
Automating your cash application process can help to improve your customer experience by enabling you to process payments more quickly and accurately, reducing the likelihood of errors or discrepancies, and providing better visibility into payment status and history.
Overall, automating your cash application process can help to improve the efficiency, accuracy, and visibility of your business’s financial operations, resulting in better financial health and a more positive customer experience.
Conclusion
Cash application is a critical process in any business that involves managing and processing customer payments. An efficient and accurate cash application process is crucial for maintaining healthy cash flow and ensuring timely payment processing. The manual approach to cash application can be time-consuming and prone to errors, resulting in inefficiencies that can negatively impact a business’s financial health.
Fortunately, with advancements in technology, businesses can now automate their cash application processes, saving time, reducing errors, and providing better visibility into financial operations. By adopting an automated cash application process, businesses can improve their overall efficiency, accuracy, and financial health.
Manish spent a decade in the finance and banking industry, including a successful stint at HSBC, before founding KredX in 2015. He took his expertise in accelerating capital velocity and created a platform that has become a growth catalyst for hundreds of Indian businesses, big and small. The journey has been triumphant, KredX featured among the top 100 leading global Fintech innovators in the KPMG-H2 Ventures 2017 Fintech100 list and Manish was recently awarded the Entrepreneur of The Year in Business Services at the Annual Entrepreneur India Awards. You can reach him through LinkedIn.
A Complete Guide to Cash Application
Cash application refers to the process of matching incoming payments to the correct customer accounts, transactions, and invoices. This process is critical for effective management of accounts receivable and forecasting cash flow for businesses of any size. Proper and timely cash application helps businesses streamline their payment processing, reduce manual errors, and enhance overall financial operations.
Despite the importance of cash application, the process can be intricate and challenging, particularly for companies handling a large number of transactions. This guide provides a comprehensive overview of cash application, highlighting its significance, challenges, best practices, and recent trends and advancements in the field. Additionally, the guide offers recommendations on how businesses can optimize their financial operations and improve their bottom line by streamlining the cash application process.
What is a Cash Application?
Cash application refers to the process of precisely matching incoming payments to customer accounts, transactions, and invoices. It is a crucial component of the accounts receivable management process and plays a significant role in maintaining accurate cash flow projections. Cash application is indispensable for businesses of all sizes, ranging from small startups to large enterprises, to guarantee timely and precise payment processing and efficient cash management solutions.
In essence, the cash application process involves recording incoming payments, reconciling them with outstanding invoices, and allocating them to the appropriate customer accounts and transactions. This process enables businesses to maintain precise records of their accounts receivable, minimize manual errors, and enhance their overall financial operations. A well-executed cash application process can help businesses streamline their payment processing and enhance their cash flow, particularly for those handling a substantial volume of transactions.
To simplify the process, many businesses use cash application software that automates the matching and reconciliation of payments with outstanding invoices and transactions. These software solutions can help businesses improve the accuracy and efficiency of their cash application process, reduce manual errors, and free up staff time for other critical tasks.
Cash Application Process – The Steps Involved
The cash application process refers to the steps involved in applying incoming cash or payments received from customers to their respective accounts or invoices. This process ensures accurate and timely recording of payments in the company’s financial records. Here are the typical steps involved in the cash application process:
1. Receive Payments
The process starts with receiving payments from customers through various payment methods such as checks, electronic funds transfers (EFT), credit card payments, or online payment platforms.
2. Record Incoming Payments
The next step is to record the details of the incoming payments, including the amount, payment date, customer information, and any relevant payment references. This information is typically entered into the company’s accounting or financial management system.
3. Reconciliation
In this step, the received payments are reconciled with the outstanding invoices or accounts receivable records. The cash application team compares the payment details with the customer’s outstanding invoices to ensure accurate allocation.
4. Identify Unapplied or Partial Payments
Sometimes, payments may not match a specific invoice or may be only partially applied to an invoice. In such cases, the cash application team identifies unapplied or partial payments and takes necessary actions to resolve discrepancies or allocate payments correctly.
5. Allocation and Application
Based on the reconciliation and matching process, the cash application team applies the received payments to the corresponding customer accounts or invoices. This involves allocating the payment amount to specific invoices, marking them as paid, and updating the customer’s account balance.
6. Documentation and Reporting
Throughout the cash application process, it is crucial to maintain proper documentation and records of all transactions. This includes creating receipts, updating payment logs, and generating reports on applied payments, unapplied payments, and accounts receivable status.
7. Follow-up and Issue Resolution
In some cases, discrepancies or issues may arise during the cash application process, such as payment disputes or errors. The cash application team works closely with the customer service or accounts receivable department to resolve these issues and ensure accurate application of payments.
8. Reconciliation with Bank Statements
Finally, the applied payments are reconciled with bank statements to ensure the accuracy of the cash application process. Any discrepancies or variances are investigated and resolved promptly.
By following these steps in the cash application process, businesses can maintain accurate financial records, minimize errors, and provide excellent customer service by ensuring timely and correct allocation of payments.
Why is The Efficiency of a Cash Application Process Important in Your Business?
The effectiveness of the cash application process is vital for businesses, regardless of their size, as it involves matching incoming payments to the appropriate customer accounts, invoices, and transactions. This process is a critical aspect of managing accounts receivable effectively and helps ensure accurate cash flow predictions. In this blog, we will delve into the reasons why having an efficient cash application process is crucial for the success of your business.
1. Timely payment processing
Efficient cash application processes ensure timely payment processing, which is crucial for maintaining a healthy cash flow. A delay in cash application can lead to delayed payments, which can cause cash flow problems and affect the financial health of the business.
2. Reduced manual errors
Manual cash application processes are prone to errors, which can lead to incorrect allocation of payments and cause confusion for customers. Automating the cash application process can reduce the risk of errors, improve accuracy, and ensure that payments are allocated correctly.
3. Improved customer satisfaction
Streamlined cash application processes can help improve customer satisfaction by ensuring that payments are processed accurately and on time. This can lead to a better customer experience and help build stronger relationships with customers.
4. Enhanced financial visibility
Structured cash application processes can provide enhanced financial visibility into the business’s accounts receivable. This can help businesses to identify trends, track payment patterns, and improve cash flow forecasting with digital accounts receivable automation.
5. Cost savings
Effective cash application processes can lead to cost savings by reducing the need for manual labor and eliminating errors. This can help businesses to improve their financial performance and reduce the risk of financial losses.
Challenges With an Inefficient Cash Application Approach
An inefficient cash application process can create a multitude of challenges for businesses. Cash application is an essential part of the accounts receivable process, and inefficient processes can lead to delayed payments, customer dissatisfaction, and inaccurate cash flow forecasting. In this blog, we will explore some of the challenges that businesses may face with an inefficient cash application approach.
1. Payment Processing Delays
Inefficient cash application processes can lead to delayed payment processing. This can result in delays in cash inflows and affect the overall financial health of the business. Delays can also lead to a poor customer experience, which can negatively impact customer relationships.
2. Increased Manual Labor
Manual cash application processes are time-consuming and labor-intensive. With an inefficient approach, businesses may need to allocate more resources to cash application, which can lead to increased costs and reduced profitability.
3. Inaccurate Payment Allocations
Inefficient cash application processes can lead to incorrect payment allocations, which can cause confusion for customers and affect customer satisfaction. Incorrect payment allocations can also lead to accounting inaccuracies and inaccurate cash flow forecasts, which can negatively impact the business’s financial health.
4. Difficulty in Tracking Payments
Inefficient cash application processes can make it challenging to track payments accurately. This can lead to difficulties in identifying trends and payment patterns, which can affect the business’s financial decision-making process.
5. Poor Financial Visibility
Inefficient cash application processes can result in poor financial visibility. This can make it difficult for businesses to assess their accounts receivable and overall financial health accurately. This lack of visibility can negatively impact decision-making and make it challenging to optimize cash flow forecasting.
Problems With a Manual Cash Application Process
Manual cash application processes can create several challenges for businesses. These processes involve manually matching incoming payments with open invoices, posting payments to the appropriate customer account, and reconciling discrepancies between the payment and invoice. In this blog, we will explore some of the problems that businesses may face with a manual cash application process.
1. Time-Consuming
Manual cash application processes are time-consuming and require significant human resources. With a manual process, businesses must allocate a considerable amount of time and resources to match payments with open invoices, post payments, and reconcile discrepancies.
2. Prone to Errors
Manual cash application processes are prone to errors. With manual processes, there is a higher chance of human error, such as posting payments to the wrong customer account or incorrectly allocating payments to invoices. These errors can lead to accounting inaccuracies and negatively impact the business’s financial health.
3. Inefficient Manual
Cash application processes are inefficient. With manual processes, businesses must handle each payment individually, which can slow down the cash application process. This can result in delayed payment processing, which can negatively impact the business’s cash flow.
4. Limited Scalability
Manual cash application processes are not scalable. With manual processes, businesses must allocate additional resources to handle an increase in payment volume. This can lead to increased costs and reduced profitability, limiting the business’s ability to scale.
5. Poor Visibility
Manual cash application processes can lead to poor visibility. With manual processes, businesses may not have real-time visibility into their cash flow or accounts receivable. This can make it challenging to make informed financial decisions and negatively impact the business’s overall financial health.
Adopting an Automated Cash Application Process
Adopting an automated cash application process can bring several benefits to businesses. An automated process involves using technology to match incoming payments with open invoices, post payments to the appropriate customer account, and reconcile discrepancies between the payment and invoice. In this blog, we will explore some of the advantages of adopting an automated cash application process.
1. Time-Saving
An automated cash application process can save businesses time. With an automated process, businesses can process payments faster and with greater accuracy. This can free up resources to focus on other critical tasks, such as customer service, sales, and operations.
2. Reduced Errors
An automated cash application process can reduce errors. With automation, businesses can reduce the risk of human error, such as posting payments to the wrong customer account or incorrectly allocating payments to invoices. This can lead to more accurate accounting and financial reporting, reducing the risk of financial penalties and loss of business.
3. Increased Efficiency
An automated cash application process can increase efficiency. With automation, businesses can process payments more quickly, reducing the time it takes to match payments with open invoices and post payments to the appropriate customer account. This can improve cash flow and reduce the time it takes to reconcile discrepancies.
4. Scalability
An automated cash application process is scalable. With automation, businesses can handle an increase in payment volume without the need for additional resources. This can help businesses to grow and expand without the risk of increased costs or reduced profitability.
5. Improved Visibility
An automated cash application process can provide better visibility into a business’s cash flow and accounts receivable. With automation, businesses can have real-time access to information about incoming payments, outstanding invoices, and payment discrepancies. This can help businesses make informed financial decisions and improve their overall financial health.
What is an Automated Cash Application Process?
An automated cash application process involves using technology to streamline the process of matching incoming payments with open invoices, posting payments to the appropriate customer account, and reconciling discrepancies between the payment and invoice. In a manual cash application process, payments are often received in various formats and methods such as checks, ACH, wire transfers, and credit cards. A manual process requires staff to manually match payments with open invoices, post payments to the appropriate customer account, and reconcile discrepancies, which can be time-consuming and prone to errors.
An automated cash application process uses software that can automatically extract relevant data from the payment, such as the amount and the customer’s information, and match it with the appropriate open invoice. The software can also automatically post the payment to the customer’s account and reconcile any discrepancies, reducing the need for manual intervention.
Automating the cash application process can provide several benefits to businesses. It can save time and resources by reducing manual data entry and reducing the time it takes to match payments with open invoices. It can also reduce errors and improve accuracy by eliminating manual data entry and reducing the risk of errors such as posting payments to the wrong customer account or allocating payments to the wrong invoice, so invoicing mistakes that can cost you big money over time. Additionally, an automated cash application process can provide better visibility into a business’s cash flow and accounts receivable, enabling businesses to make informed financial decisions and improve their overall financial health.
To implement an automated cash application process, businesses can invest in cash application software solutions that offer automation features and integrations with their accounting systems. These solutions can be customized to fit the specific needs of the business and can help businesses optimize their cash application process for improved financial health.
What Are The Benefits of Automating Your Cash Application Process?
Automating your cash application process can provide several benefits to your business, including:
1. Improved Efficiency
Automating the cash application process can save time and resources by reducing manual data entry and minimizing the time required to match payments with open invoices. This, in turn, can help to improve your business’s overall efficiency and productivity.
2. Reduced Errors
Manual data entry and processing can be prone to errors, such as posting payments to the wrong customer account or allocating payments to the wrong invoice. Automating the cash application process can help to reduce these errors, resulting in better accuracy and more reliable financial data.
3. Enhanced Visibility
Automating your cash application process can provide better visibility into your business’s cash flow and accounts receivable. This, in turn, can enable you to make more informed financial decisions and improve your overall financial health.
4. Improved Cash Flow
By automating your cash application process, you can accelerate the payment posting process, reduce the time it takes to match payments with open invoices, and reduce the likelihood of errors or discrepancies. This, in turn, can help to improve your cash flow by ensuring that payments are processed quickly and accurately.
5. Better Customer Experience
Automating your cash application process can help to improve your customer experience by enabling you to process payments more quickly and accurately, reducing the likelihood of errors or discrepancies, and providing better visibility into payment status and history.
Overall, automating your cash application process can help to improve the efficiency, accuracy, and visibility of your business’s financial operations, resulting in better financial health and a more positive customer experience.
Conclusion
Cash application is a critical process in any business that involves managing and processing customer payments. An efficient and accurate cash application process is crucial for maintaining healthy cash flow and ensuring timely payment processing. The manual approach to cash application can be time-consuming and prone to errors, resulting in inefficiencies that can negatively impact a business’s financial health.
Fortunately, with advancements in technology, businesses can now automate their cash application processes, saving time, reducing errors, and providing better visibility into financial operations. By adopting an automated cash application process, businesses can improve their overall efficiency, accuracy, and financial health.
Manish Kumar
CEO and Founder, KredX
Manish spent a decade in the finance and banking industry, including a successful stint at HSBC, before founding KredX in 2015. He took his expertise in accelerating capital velocity and created a platform that has become a growth catalyst for hundreds of Indian businesses, big and small. The journey has been triumphant, KredX featured among the top 100 leading global Fintech innovators in the KPMG-H2 Ventures 2017 Fintech100 list and Manish was recently awarded the Entrepreneur of The Year in Business Services at the Annual Entrepreneur India Awards. You can reach him through LinkedIn.
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