The Challenge: The importance of timely and accurate cash application can’t be overstated, and needs to be kept current and reconciled daily for accounting and credit operations. Why is this simple goal so elusive?
Whether you have an ERP or Legacy system, cash application is still largely manual and very labor intensive. Even electronic cash application often leaves 50% of the work to be completed manually. Unfortunately, the cash applier finds themselves in is a situation where they have an overload of electronic data that they cannot process electronically and must revert to manual methods which often slows the process down to a grinding halt.
The Solution: Carixa Cash Application solves this, and can work seamlessly with your present financial system, or tightly integrated with the Carixa modules for Collections, Deduction and Credit Risk Management. Either way, you get real time results in payment posting. The Carixa cash processing engine is configured to quickly clean and match remittances to invoices and deductions, and when a new deduction is created it “jump starts” the deduction workflow process. With Carixa’s unique matching and transaction creation algorithms you can achieve 100% Matching!
|Interprets, translates and processes BAI, EDI, PDF, emails and spreadsheet data.||Fast and accurate cash posting|
|Auto creation and coding of deductions||Tracks Earned and Unearned Discounts|
|Tests for earned and unearned discount rules||Real time update of collection follow-up queue|
|Detailed on-line payment history||Reduced held orders|
|Single interface to multiple ERP systems||Reduced complexity, higher efficiency|
For information and a demonstration of Carixa’s powerful features, contact Kristen Metzger at +1 201-714-4547 or firstname.lastname@example.org.