Auto-Cash

Achieve 99.9% Straight-Through Remittance Application

You need to close and reconcile cash transactions each day in order to update your accounts receivable, credit limits, and collections priorities. Yet, most “auto-cash” systems leave 25%-40% of work to do manually, which causes human errors and delays.

Carixa uses machine learning to match 99.9% of payments received ​​to open invoices so you can reconcile all payments by the end of each day.

Automated integration for increased efficiency

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, multilevel matching algorithms and automated debit and credit transaction workflows enable you to achieve the highest automated match rate in the industry.

Auto-Cash Benefits

  • 99%+ straight-through processing of remittances from all sources
  • 25%+ gain in collector effectiveness with daily updates of collection queues
  • Self-correcting, machine learning
  • Posts exceptions “on account” and into closure workflow
  • Eliminates 75%+ of work using RPA bots for web portals
  • OCR of checks and remittances eliminates fees from bank lockbox keying
  • Automatically creates and inserts deductions into the Deduction Resolution workflow
  • Optional Trade Promotion module for automatic deduction and trade deal validation

Product Details

Carixa cash application automation works seamlessly with your present A/R system and can be integrated with Carixa modules for collections, credit, and deduction management.

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, ACH, Credit Card, MT940, 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 accurate, on-time cash application on a daily basis will accelerate collections and deduction resolution — saving your business a lot of money.

Related Content: Carixa Automated Cash Application Video

Contact us to learn more about how this Carixa module can function independently or as part of a total Accounts Receivable software system.

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Smyyth Carixa