Webinars

  August 12, 2010 at 02:00 PM ET

In today’s economic environment, every company strives to become more efficient, thus becoming more competitive.

In this critical webinar, you’ll hear how to automate and digitize the entire remittance data capture and cash application process to reduce cycle times, slash operating expenses and create a more accurate, timely and effective revenue cycle.

As credit pros know all too well, there are many pain points in today’s remittance capture methods and auto-cash processing, including: high costs, inefficient manual steps, delays in posting cash, increases in DSO and poor visibility into AR and cash positions. In addition, traditional approaches to the remittance function continue to include costly lockbox remittance re-keying fees which serve to inflate the expenditure required to receive and post a payment, research exceptions and correct possible data inaccuracies.

As a recent SunGard survey reveals, processes that many corporations rely on to obtain remittance data and apply incoming payments lag significantly behind the rate of technology. Many credit professionals struggle with cash application or auto-cash processing systems that operate independent of the core credit and collections operation.

This doesn’t have to be the case! In this webinar, you’ll find out how to better use digital remittance data capture to:

• Automate the manual process
• Increase accuracy
• Allow for faster cash posting
• Decrease DSO
• Bring valuable data into the AR system for better visibility

We’ll also review how digital remittance processing allows companies to lower costs by automating the extraction of payment data from images of checks and remittance documents. Proprietary technology that associates payment and remittance data at the point of capture offers point-and-click templating and intelligent data validation, as well as flexible electronic and paper workflow to increase the posting hit rate and posting hit rate accuracy, thereby reducing manual reconciliation labor requirements.

You’ll also hear how digital remittance processing allows you to:

• Operate in real-time with collections/deductions workflow
• Configure the matching rules by business unit and customer
• Accept uploaded payment advice in any format
• Automatically detect and generate deductions
• Obtain a single interface to multiple AR systems
• Process data from Lockboxes & EDI
• Achieve line item level processing and posting
• Accept reason code level write-off tolerances
• Track earned and unearned discounts
• Capture bank data without duplicate entry
• Automatically update the MICR table

Plus, get answers to your specific questions in the Q&A session following the presentation.

Featured Faculty

Art Hernandez
Vice President, Product Management, SunGard AvantGard’s Receivables Solutions

Art oversees product strategy and product management activities for SunGard AvantGard’s Receivables Solutions. In this role, Art oversees the design, creation and improvement of all of the Receivables offerings.

Art joined the business unit in 1999 as the company’s first Technical Services manager and has since held various positions in Professional Services, Client Services, and Sales. Art earned a bachelor’s degree in Economics from Rutgers University.

Back to Top