WHY ALLOCATE CASH WITH ESKER?
Managing multiple payment sources and formats (e.g., banks, lock boxes, emails, PDFs), not to mention the different levels of data in each document, can be a real pain for AR teams trying to allocate cash in a timely and effective manner. Esker's AI engine automates the manually intensive process of matching payments received from all incoming payment information sources so your team can focus on higher value tasks and control cash flow in real time.
- Improve AccuracyStreamline the cash app process by reducing time-consuming errors.
- Increase ProductivityFree up AR team to focus on more strategic, value-added activities.
- Enhance VisibilityGet insights into cash likely to be received & your total receivables.
- Accelerate DeductionsSpeed up your team’s deductions & dispute identification process.
SIMPLIFIED REMITTANCE MANAGEMENT
POWERED BY AI TECHNOLOGY
Inefficient remittance management not only drains your AR team’s time and labor, it has a direct impact on company revenue. That’s why Esker’s digital solution, powered by AI technologies, eliminates these costly bottlenecks through:
- Email triage — extracting & routing remittances to the Cash Application solution
- Intelligent data extraction — extracting remittance advice information (e.g., header data, invoice, credit lines, etc.)
- Machine learning & teaching — extracting data from remittances & significantly speeding up cash allocation
MATCHING MADE EASY
No remittance included? Not a problem. Esker’s Cash Application solution comes equipped with powerful AI technology that makes it easy to auto-allocate payments without remittances — freeing up time for your team and cashflow to your business.
HOW IT WORKS
Esker’s AI Engine captures data from payment files and accurately extracts the necessary information (e.g., invoice number, customer name, PO, etc.). The solution analyses data in real time to always look for the best possible match; if several are possible, suggestions are provided to the user and can also create business rules to automate specific allocations or exceptions. Lastly, Esker’s solution also supports rapid reconciliation of payments with your ERP via native integrations or by extracting an output allocation file.
A UNIQUE USER EXPERIENCE
Simplify your cash application process with all payment information visible from one interface:
- Extracted information from payment files
- Check and/or remittance image
- Invoices and highlighted suggestions for matching invoices with payment or remittance
- Help messages and resulting explanations
- Dedicated adjustment entries section
- Direct link to customer accounts
- Internal conversations
MONITOR INCOMING CASH ANYTIME
You can’t improve what you can’t see! Esker’s cloud solution empowers users by providing:
- All payment information centralised in one place
- Clear KPIs on remaining cash to allocate
- Graphs to monitor activity (e.g., auto-allocation status, remittance processing, allocation per user, etc.)
- Output file reports to facilitate reconciliation into the ERP system or share allocation statuses
- Workspace to easily navigate to your comprehensive AR dashboard to view cash position (e.g., cash to collect, cash tied up in invoices not sent, etc.)
- Coming Soon