Versapay Cash Application automates your cash application process using machine learning to match any payment type with open receivables which significantly reduces manual efforts, improves accuracy, and drives cash flow.

Versapay Cash Application helps you:
Increase efficiency by up to 75%

Over 90% Straight-through processing

Reduce AR costs up to 50% annually

Features and Benefits

Capture All Payment & Data Types

Import all incoming payments like checks, ACH and wires, and detached remittance from multiple sources, including emails, PDFs, AP portals, data files and more.
Optical character recognition (OCR) technology dynamically reads and extracts useful information from digital and paper payments and remittances to ensure the highest match rates.
Operates with lockbox service providers and significantly reduces costs and exceptions by using scanned data instead of costly, error-prone keyed payment data.

Match It All Automatically

Take advantage of our proprietary, purpose-built machine learning technology that enables payments to be auto-matched with open receivables.
Configurable algorithm match rules with advanced settings. Work together in sequence to apply payments to open receivables to optimize the cash application process.

Improve Customer Service

Restore credit for your customers more quickly allowing more favorable credit limits and revenue growth.
In-platform collaboration tools enable you to ask for assistance on remaining unapplied payments and for your customers to apply payments directly in the portal, speeding up reconciliation.

Versapay Cash Application

Autor: Versapay