What is "Auto-Cash Application"

The remittance cash application process needs to be closed and reconciled daily to update your accounts receivable, credit limits, and collections priorities. Yet, most so-called "auto-cash" programs leave 25%-40% of work to do manually, which results in human errors and delays in closing the day's cash.

Carixa, the advanced Software as a Service (SaaS) platform, delivers automated cash application that works seamlessly with your existing ERP system and includes lockboxes, credit cards, ACH payments, etc.

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Auto Cash Workflows

Auto-Cash Benefits. Results that matter.

  1. Achieve 99%+ Straight-Through Processing of remittances from all sources.
  2. Self-correcting, using machine learning.
  3. Exceptions are posted "on account" and into the closure workflow.
  4. 75%+ of work eliminated using RPA bots for web portals.
  5. Eliminate Bank Lockbox keying fees with OCR of checks and remittances.
  6. Deductions are automatically created and inserted into the Deduction Resolution Workflow.
  7. Automatic deduction and trade deal validation with the Carixa Trade Promotion module.
  8. 25%+ gain in collector effectiveness with daily updates of collection queues.

Carixa 99.9% Auto-Cash Application

The Carixa cash processing engine is configured to quickly clear and match remittances to invoices, credits, and deductions. When a new deduction or dispute is created, it jump-starts the deduction resolution workflow. Our powerful, multi-level matching algorithms and automated debit and credit transaction creation and workflow enable you to achieve almost 100% automation for your accounts receivable cash application. 

Carixa cash application automation works seamlessly with your present A/R system or is integrated with Carixa modules for collections, credit, and deduction management. Using this breakthrough intelligent cash application technology, we get 99.9% completion rates with workflow creating deductions for the resolution workflow.

Carixa includes robotic process BOTs to automatically retrieve bank statements, deposits, lockbox receipts, ACH receipts, as well as outgoing payments on a daily basis.

  • Interprets and processes BAI, EDI, PDF, emails, and spreadsheet data
  • Scanning/OCR automation
  • Automatic data extraction from email, attachments, customer portals
  • Parent-child matching, customer-level rules
  • Multi-variable field matching
  • Automatic deduction reason-code translation
  • Automatic deduction match and validation (with the Carixa Deduction module)
  • Automatic trade deal match and validation (with the Carixa Trade Promotion module)
  • Tests for earned and unearned discount rules
  • Automatic chargebacks and debit memos direct into the workflow
  • Automatic posting to "on account" payments

Achieving on-time and accurate cash application on a daily basis will keep your accounts straight and accelerate collections and deduction resolution — it will save your business money. This cash application software streamlines laborious and complicated tasks associated with your accounts receivable.

Questions about our breakthrough auto-cash application services or how this solution functions as part of a total credit management software system? Please contact us.

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