In 2007-2008, when the global economy went into its worst recession since the Great Depression,
and when liquidity dried up for businesses, they were forced to optimizetheir internal cash flows and
pushed companies to explore ways to automate theiraccounts receivable processes. One such manually
intensive A/R process that can be automated is the ?Cash Application' process. "Challenges with
traditional A/R ? Part 1" blog explains in detail the drawbacks in manual A/R
Michael Ors processes.
Majority of companies are still not using automatic cash application software to accelerate collections
and deductions management. They are dependent on their customers' payment processes
and schedules. This can lead to problems for organizations in today's cash crunch environment.
Traditionally,a time lag of a few days between payment receipt and cash application was unavoidable,
but by automating the cash application process,
michael kors homepage this lag can be reduced to a few minutes.
In the past cash application processeswere manually intensive. Companies had to deal with a multitude
of forms of payments (Check, ACHorWire Transfer) across multiple lock boxes or banks.While customers
provide payment remittance details in a variety of formats,such as paper remittances, EDI documents
and emails with spread sheet attachments. Emerging trend requires the vendors to login to customer
portals to retrieve the remittance details. Compounding this challenge is the inconsistency and the lack
of detail for deductions and cash discounts. In certain cases remittance line items refer to alternate
reference numbers such as a BOL number, PO Number and others that are differentfrom the original
invoice number.
micahelkors Michael Kors Messager MostERP system lockboxor cash application programs require a ??clean'' standardized
remittance file with direct reference to your invoice numbers to auto-apply.
If you have customers that continue to provide check and remittances in paper form, not only are
bank keying fees very expensive, but they only partially relieve the overall problem. The result
is low
Michael Kors Metallic Gold Bags on-invoice hit-rate, requiring a?human-intensive' cash application operation that is not
onlytimeconsumingandcostly,butisalsoerror?prone.
With HighRadius ReceivablesRadius Cash Application Automationaddresses all the challenges faced by
a traditional cash application process.
Receivables
Michael Ors Outlet Online Purses Radius Cash Application Automation solution is composed of three key components that
enable an end-to-end cash application automation.
1. Customer Specific Rules Engine
2. Data Aggregation engine which aggregates data in multiple formats from multiple sources
3. Syndication engine to publish a single file specific to particular ERP systems such as SAP, Oracle
and JD Edwards in their required formats. This allows the ability to leverage standard ERP cash
posting
相关的主题文章:
michael kors purse outlets Cheap Michael Kors Handbags Outlet Sale - 副本 (43) - 副本
Chat Sentinela
