Multiple payment types, payment channels and remittance channels create manual processes for AR departments that impede scalable growth for your organization. The Integrated Receivables Cash Application Cloud, by CommercePayments™, automates the receivables process while continuing to offer your buyers flexible payment and remittance options. The Cash Application Cloud allows suppliers to link multiple payment types — from varied payment channels, with payment remittance details from diverse sources — and apply the cash to open receivables in their enterprise resource planning (ERP) system. Leveraging artificial intelligence (AI), the Cash Application Cloud links payments to remittances and applies cash to outstanding receivables.
Resolve exceptions faster with AI capabilities
Improve analyst productivity with faster exception handling
Enhance your customers’ experience
Save on lockbox data capture fees
Connect card, ACH, wire and check payments to get a clear picture of all incoming payments.
Capture remittance details directly from emails and attachments, electronic data interchange (EDI) data, buyer portals and paper remittance.
Apply cash the same day the funds hit your bank.
Auto-create deductions and capture deduction information, such as claim number or reason code.
Track critical receivables trends.
Each day your ERP system shares customer AR information with our industry-leading Cash Application Cloud solution. The Cash Application Cloud then aggregates data from payment and remittance sources. This data can then be leveraged in the Cash Application Cloud to complete three-way matches of the payment, remittance, and open AR, and then submit an enriched posting file to your business’ ERP system for reconciliation.