Increase Auto Cash Productivity and Accuracy

Machine Learning, Artificial Intelligence (AI) and Robotic Process Automation (RPA) drive Automated Cash Reconciliations, Advanced Payment Matching Workflow using Cforia Clean Receivables(SM) for First-Time-Right Cash Application accuracy, dramatically improving global Working Capital results.

Today our proven and globally deployed Cash Application and Bank Reconciliation capabilities, continue to enhance Cforia’s disruptive technology platform, Cforia.autonomy™.

With the integrated release of the Cforia Cash Application and Bank Reconciliation Modules, Cforia.autonomy™ has extended Straight-Through-Processing (STP) capabilities for Zero-Touch Posting of EDI, EFT, ACH, PCI Compliant Credit Card, Direct Debit, Lock-Box and Cash payments.

Cforia provides Cash Application, Bank Reconciliation and Regulatory Reporting for all major billing systems, including SAP, Oracle, PeopleSoft, Microsoft, JD Edwards, IBM Custom Software and many others. Cforia’s growing list of Fortune 2000 Clients benefit from proven, cost-effective, real-world productivity tools which deliver improved financial performance.

We also make these AI and RPA generated matches reviewable, pre-posting to the system-of-record. This approach eliminates the problems being caused by cloud-based cash application solutions mismatch, which causes unwanted and unproductive manual-rework within the billing systems.  This proven ability combines Artificial-Intelligence with Human-Intelligence for First-Time-Right Decisions, which greatly impacts functional match-rates and produces higher efficiency within Cash Application, Bank Reconciliation and Regulatory Compliance processes.

Cforia’s Machine Learning, Artificial Intelligence (AI) and Robotic Process Automation (RPA) drive Automated Cash Reconciliations, Advanced Payment Matching Workflow to provide companies with the ability to leverage automation to improve cash application productivity, while also increasing accuracy.

This application can automatically download and extract data from EDI, EFT, A/P Portal, ACH, PCI Compliant Credit Card, Direct Debit, Lock-Box and Cash payments for 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:

Supports multiple site, disparate ERP systems and multiple lockboxes
Auto Processing of BAI, BAI2, MT940, EDI 820, Excel and CSV data
Automatically download and OCR extract data from Treasury Service Lockbox check and remittance .pdf and .tif image files
OCR data extraction from scanned paper remittances
Flexi-Template technology automatically extracts data without having to createOCR scanning templates
Create automated matching rules to support custom and customer specific reference fields
Automatic correction of typical customer numbering problems that prevent straight through processing
Automate deductions coding
Apply cash directly into your ERP system via synthetic BAI2, any flat file format or server side scripting.

Key Features

MT940 File Format
BAI2 File Format
EDI Remittances
Spreadsheet Remittances
OCR Extract Images
OCR Extract Paper Remittances
Cash Application Auto Matching

Suggested Resources:

Why Cforia?: Cforia Product & Solutions Overview

Financial Shared Services: Cforia Global Order to Cash Management

A Single, Global Order-to-Cash Platform: Cforia.autonomyTM

Cash Application
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In the News: Cforia Software Announces Major Product Enhancements End-to-End Order-to-Cash with the addition of Cash Application and Bank Reconciliation

View Press Release