Increase Auto Cash Productivity and Accuracy
Many forms of technology today enable companies to efficiently and quickly resolve any variety of tasks. However when it comes to managing their money and processing their cash, many corporations resort to manual methods that are often time-consuming and can lead to inaccurate results. Payments are handled through printing or viewing image documents and reconciling them against an electronic General Ledger System.With your A/R Department handing a large influx of payments, deductions and disputes it is key that all information is properly recorded and matched to the appropriate open invoices.
Cforia Software’s OCR Auto Cash Application provides companies with the ability to leverage automation to improve cash application productivity by 100% or more,while also increasing accuracy. This application can automatically download and extract data from Treasury Service Lockbox check and remittance image files as well as support both United States and International banking formats including BAI, BAI2 and MT940. Eliminate the hassle of manually comparing documents or images to open invoices. As a result, your company’s accounting system remains constantly updated and improves A/R workflow.
Seamlessly handle data, paper and image based remittance: