Solutions

Accounts Receivable

Fully Automated Payment Allocation – AR ProcessFlows®

Accounts Receivable ProcessFlows (AR ProcessFlows) is a solution designed to quickly and accurately allocate all received payments to the relevant customer accounts, with minimal manual interaction. With easy integration into all major finance packages and banking systems, AR ProcessFlows can quickly and dramatically reduce the manual process of daily cash allocation.

AR ProcessFlows uses best of breed technologies to:

Capture:
Most capture tools operate on template basis, which require structure and will not work with thousands of differently structured remittance notices. However, AR ProcessFlows employs an intelligent capture tool, which can extract this data automatically, learning and storing information as it goes. This allows the collection of data to be truly automated, with accounts systems updated, without the need for manual entry.

Manage:
Holds all documents, enabling faster retrieval for processing and audit – Negates the need for paper storage, whilst supporting compliance requirements.

Allocate:
Allocate incoming payments quickly, right down to the invoice level. This information is then remembered so that subsequent payments can be matched instantly. This learning approach can lead to an 80% reduction in manual allocation.

Benefits

  • Real-time view of true sales ledger values
  • Clean sales ledger with no unallocated balances
  • More accurate Management Information and easier cashflow forecasting
  • Increasingly efficient credit management with accurate ‘debtor days’ information available at all times
  • Increased Credit Control efficiency – no wasted time chasing invoices already paid
  • Reconciliation is done on a day-to-day basis meaning for a quicker and smoother Month End Process
  • All banking and remittance documents are stored electronically making the audit process less arduous and reducing the amount of storage required

More information

Please use the menu above left for more information about our solutions. Alternatively you can call us on 01962 835053 or email sales@processflows.co.uk.