Automated Cash Posting For The Modern Finance Team
Straight-through cash posting and improved reconciliation
with ML-based exception handling from KredX Cash Application
End-to-end Automation Of Cash Posting From KredX’s Receivables Module
- Leverage AI to accurately capture information and smart mapping logic
- FIFO (First In First Out) and Best-Fit mapping logic in cases of unavailable remittance
- Exception handling for short/over payment
- OCR Engine to capture accurate information automatically
- Automated mapping of credit with customer and remittance to credit and invoices
- Centralized remittance repository
- Human-AI collaboration: Analyst works on exceptions, automation handles the rest
- Suggestions from ML and predictive logic for faster execution of exceptions
- No need to wait for month-end closing, close books once payment is received
Automated Cash Posting
Increase in Process Efficiency
Disclaimer:The figures generated by this calculator are intended as a guide only. This shall not, and is not intended to, constitute any funding commitment. Rates will be given by financiers according to their analysis of yours and your buyer's risk profile.
Key Product Features
- Leverage AI-based, multi-engine online remittance software to capture accurate, noise-free check remittance information.
- Auto-capture remittances across emails and soft copies to auto-identify customers.
How KredX Cash Application
Helps Companies Improve The Bottom line
On-Time Book Closing
Here’s How A Human Resource Contracting Company Achieved On-Time Book Closing With KredX’s Cash Application.
in manual data entry work
in human effort
Frequently Asked Questions
A cash application software is a tool that helps businesses apply customer payments to their outstanding invoices and manage their cash flow. It can automate the process of matching payments to invoices, reducing errors and improving the efficiency of the process.
Cash application software can use various techniques such as OCR, machine learning, or user-defined rules to match customer payments to the corresponding invoices. It can also automate the process of allocating payments to different invoices, accounts, or departments.
A cash application software helps businesses improve their cash flow by providing real-time visibility into customer payments and reducing the risk of errors in the payment application process. It can also free up staff time that would otherwise be spent manually matching payments to invoices.
Many cash application software products offer integrations with other systems, such as accounting software, ERP or banking systems. This allows businesses to share data and streamline their workflow.
The cost of cash application softwares can vary depending on the features and capabilities of the product. They can be subscription-based and may have different pricing plans. It’s important to evaluate the features and pricing options of different products to find the one that best suits your business needs.
Improved efficiency: A cash application software can automate the process of matching customer payments to invoices, reducing errors and freeing up staff time that would otherwise be spent on manual tasks.
Enhanced cash flow: By providing real-time visibility into customer payments, a cash application software can help organizations better manage their cash flow, identify any potential issues and make more informed decisions.
Reduced risk of errors: Manual processes are more prone to errors, with cash application software, you can minimize the risk of errors, such as applying payments to the wrong invoices, by automating the process.
Better data management: A cash application software can help organizations keep track of customer payment information, such as payment history and outstanding balances, in one centralized location.
Integration with other systems: Many cash application software products offer integrations with other systems, such as accounting software, ERP or banking systems. This allows businesses to share data and streamline their workflow.
Improved customer service: With cash application software, your team can quickly and easily apply payments to the correct invoices and send customers updated payment information, which can help improve customer satisfaction and retention.
Overall, cash application software can help an organization improve efficiency, better manage cash flow, reduce the risk of errors and improve customer service, which can ultimately drive revenue growth and profitability.