SRM - Cash Application

Companies cannot realize cash until payments have been properly matched and applied to the right account. If a business is relying on an outdated, manual process, that can be time-consuming and labor-intensive, ultimately extending DSO. Furthermore, delays in cash application impact a customer’s credit for ordering goods or services, which then impacts a supplier’s business. Cash application automation often requires input from multiple data sources, including lockbox files, EDI files, other types of customer remittance information, and bank statements.
Sailfin SRM’s cash application enables end-to-end automation of the cash application process that covers remittance aggregation from different sources/formats, account identification, invoice matching, auto-deductions and dispute creation and ERP posting.
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Features and Benefits

End-to-end automation of the cash application process that covers remittance aggregation from different sources/formats, account identification, invoice matching, deductions and dispute creation and ERP posting.

Auto-application of discounts in case of pre-payments and deductions along with dispute creation for short-pay scenarios.

Application of AI and ML to provides multiple payment matching options like the closest match, oldest match.

Easily configurable business rules for payment reversal, transfer of payment, write-offs and refunds.

Provides centralized view of company-wide cash flows on a daily or intra-day frequency.

Fully automated cash application requiring minimal to no-touch in some cases.

Key metrics tracking and reporting

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“Sailfin SRM’s cash application enables an end-to-end automation of the cash application process.”