Increase TIF/PDF Lockbox File Automation
North American Corporations use bank lockboxes to shorten their payment cycles by leveraging geographically disbursed lockbox locations. Banks scan the received checks and remittance advice into TIF or PDF image formats.
Many corporate Cash Application Departments manually post the cash received in lockboxes by having workers sit in front of two screens; one to view checks and remittances downloaded from bank portals and another with an ERP session that is used to manually match and apply the cash.
Cforia Software automates processing of TIF / PDF lockbox files through the combination of OCR technology and our Auto Matching Engine.
Eliminate manual keying of TIF/PDF lockbox files:
Leverages custom OCR scanning templates to process the largest remitters with maximum accuracy.
Process smaller customers off an “OCR Friendly Billing and Remit Statement”
Scan unformatted remittances with Intelligent OCR Scanning Templates.
Auto Matching against entries in ERP GL and SD tables.
Find and replace incorrect customer numbers such as Purchase Orders, Sales Orders and A/R system concatenated Invoice Numbers with the correct Invoice Number that will auto post into your ERP.
Auto Coding of customer short pays, deductions and disputes
Reconcile and approve a batch of cash for posting from a workstation that has optimized workflows prior to posting into the ERP.
Post into your ERP system via BAI2 and flat file formats or server side scripting.
Supports multiple sites and ERP systems including SAP, Oracle, PeopleSoft, Baan, Lawson, JD Edwards, BPCS, MAPICS, Microsoft Dynamics NAV, QAD and many more.
TIF/PDF Lockbox Files
Increase Productivity 100%
Avoid BAI2 Bank Fees
Auto-Matching GL Entries
Auto-Matching SD Entries
Automate Deductions Coding
Real-Time Data Integration