EcoSystem Connectivity: Remittance Data Capture
In the past, you've had two options when managing remittance processing: outsource to a bank lockbox that typically charges by the keystroke to manually capture data from your payment advices, or manually key the data in-house. It's likely that you've been overpaying lockbox providers while still having to process a large percentage of exception work yourself.
The majority of the lockbox data entry process is manual and expensive, affecting the accuracy, timeliness and efficiency of your cash application function. The overall impact of the data quality may even extend to your collections and customer service functions. For this reason, AvantGard has partnered with a provider of automated remittance data capture solutions to offer a better alternative. Companies can enhance their use of the AvantGard Receivables Cash Application solution to help reduce dependence on lockbox processing and realize higher data quality for your accounting systems.
Features:
- Automated Wholesale and Wholesale Remittance Data Capture
- Intelligent Data Validation
- Flexible Electronic and Paper Workflow
- Integrates with AvantGard Receivables Cash Application
Benefits:
- Lower DSO with Faster Application of Cash
- Reduce Bank Fees
- Eliminate Manual Processing of Remittance Data
- Improve Hit Rate Accuracy
EcoSystem Connectivity:
Improve auto-cash processing by interfacing the Automated Remittance Data Capture with AvantGard Receivables Cash Application.