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Cash Application Automation Software


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Reduce Costs and Improve Efficiency on Cash Application

Emagia Cash Application enables organizations to improve cash application efficiency, reduce manual labor costs, and lower the time between payment and posting. Cash application automation allows automated processing of both bank and customer files with the receivables information to apply cash in a fast and effective manner. Emagia Cash Application allows users to receive remittance information directly from customers through EDI, Excel and PDF remittances and store the matching data until confirmation from the bank that the cash has been received. Using our matching algorithms, cash can be applied on multiple reference data types and organized into one of four categories: matched, partially matched, unmatched, or unidentified.

Automating Feeds from Lockbox and Banks

Cash application automation often requires input from different data sources. Cash application covers a variety of feeds including lockbox files, EDI files and other types of customer remittance information as well as bank statements. Cash can be applied across multiple customer numbers for the same payment. The matching algorithms match customers, payments, open invoices and other transactional information to create cash application files that can update the financial system and that need additional research.


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Intelligent Matching and Recommendations for Cash Application

With Emagia’s auto-matching engine and recommendations, users experience improved cash application, more efficient invoice matching, and increased order-to-cash efficiency. This system takes payment data from multiple customers and processes it against open receivables data. Matched receipts file is generated to update the financial system, unmatched receipts are opened on the workbench with recommendations on partial matches and for further research. Disputes or tickets can be initiated for shortpays, overpays and others for which resolution workflows are driven based on type of issue. To increase cash application efficiency, invoice to receipts matching error tolerance can be adjusted.

Improving Cash Flow Predictability and Performance

Cash application performance is tremendously improved through the automation of matching critical remittance, bank data and open invoices from different sources, thus improving visibility. Powerful analytics focused on customer accounts, applied and unapplied cash trends and customer payment trends provide you with the necessary intelligence to create and manage your business’ cash flow strategies. The Emagia Cash Application Module ultimately allows you to predict short-term cash inflow weeks or months into the future.