How to Automate Cash Application and Remittance Operations

Companies today are challenged with processing payments from a large number of customers. In the absence of automation, this is a manual, repetitive effort that requires a large team to spend time on low-value, frustrating tasks. The manual nature of the work makes it difficult to quickly process payments and to reliably apply cash the same day as the payments are received. Many accounting systems require extensive customizations for remittance parsing and advanced rules to get a high hit rate.

Learn how Top 20 CPA firm Armanino automated the cash application process, driven by dynamic remittance processing templates and business rules in order to maximize on-invoice hit rate and the overall cash application process.

Hear Cameron Menteer, Controller at Armanino, discuss how they were able to:

  • Dramatically decrease their operating costs with automated cash application
  • Automate remittance advice processing with dynamic remittance processing templates
  • Speed-up deduction resolution with deduction coding rules
  • Re-allocate resources to higher value-added activities
  • Deliver on time and on budget within three months
  • Achieve stellar ROI and fast payback with automation technology

Watch now on-demand:

Cash Application
Meet the CFO - Interview Series - Shannon NashWebinar Thursday, September 29

The next interview in the series features Shannon Nash, CFO of Wing, the drone delivery unit of Google parent company Alphabet. Shannon is a CPA, and a recovering attorney with a JD.