Increase BAI2 Lockbox File Automation

Many modern ERP systems have a lockbox module that supports auto processing of BAI2 lockbox files. BAI2 files are manually keyed by bank employees. Many modern ERP systems are capable of auto posting cash from a BAI2 file using their lockbox functionality. Typical automation results are 60 to 75% straight through processing. The remaining transactions must be manually reconciled in the ERP system to post the cash with the associated remittance advice. The most common cause for not achieving higher automation is that customers pay with the wrong number.

ERP Systems typically require an invoice number to auto apply cash. Customers pay via purchase orders, concatenated invoice numbers, shipping numbers and miss residual invoice numbers.

Eliminate manual reconciliation of BAI2 files:

Cforia’s Auto Cash Application Software pre-processes bank BAI2 files and matches against your ERP’s GL to identify numbers that will not be auto processed.
Cforia matching algorithms look up and replace incorrect numbers with the proper invoice numbers that can be auto posted. As an example, you have a customer who pays by PO Number and your ERP system requires an invoice number. In this example Cforia’s system uses the customer PO Number to find the correct Invoice number.
System can match across ERP system modules including Sales Order or SD to increase matching of customer numbers.
Auto coding of customer short pays.
Reconcile and approve a batch of cash for posting from a workstation that has optimized workflows prior to posting into the ERP.
Supports multiple sites and ERP systems including SAP, Oracle, PeopleSoft, Baan, Lawson, JD Edwards, BPCS, MAPICS, Microsoft Dynamics NAV, QAD and many more.

Key Features

BAI2 Lockbox File Format
Achieve 90-95% Automation
Increase Productivity 100%
Auto-Matching GL Entries
Auto-Matching SD Entries
Automate Deductions Coding
Real-Time Data Integration

Suggested Resources:

Why Cforia?: Cforia Product & Solutions Overview

Financial Shared Services: Cforia Global Order to Cash Management

Lockbox BAI2 Processing
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