Leverage OCR to tackle TIF/PDF and Paper Based Remittance Advice

Within Europe and North America, a large number of remittance advice is still received in hard copy of various shapes and sizes. Many A/R Departments manually record the payment information and compare it against invoices in their ERP system.

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.

Cforia Software automates processing of TIF, PDF and paper remittances by using a combination of OCR technology to extract the data and our Auto Matching Engine.

Eliminate manual keying of Excel Spreadsheet Files:

Leverage our mapping tool to directly process specific customer provided spreadsheet and delimited flat files.
Provide smaller customers with a pre-defined format that can be automatically processed.
Files can be automatically processed whenever FTP/SFTP uploaded into a hot folder or emailed to a dedicated email address.
Excel Spreadsheet Remittance Advice and ACH payments can be received in any order, days apart and can still be automatically matched.
Standard matching algorithms include combinations of the following reference data: invoice amount, invoice number, purchase order reference, sales order reference, discount amount and due date.
Auto Matching against entries in ERP GL and SD tables.
Find and replace incorrect customer numbers such as Purchase Orders, Sales Orders and AP system concatenated Invoice Numbers with the correct Invoice Number that will auto post into your ERP.
Auto code deductions, disputes, debits and credits.
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 a 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.

Key Features

TIF/PDF Lockbox Files
Paper Remittance Advice
Avoid BAI2 Bank Fees
Auto-Matching GL Entries
Auto-Matching SD Entries
Automatic 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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