Accounts Receivable Cash Application in Singapore

Accelerate Your Allocation Process

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WHY ALLOCATE CASH WITH ESKER?

Managing multiple payment sources and formats (e.g., banks, lock boxes, emails, PDFs), not to mention the different levels of data in each document, can be a real pain for AR teams trying to allocate cash in a timely and effective manner. Esker's AI engine automates the manually intensive process of matching payments received from all incoming payment information sources so your team can focus on higher value tasks and control cash flow in real time.

  • Empower StaffAccelerate allocation & free up AR teams to focus on exceptions & strategic tasks.
  • Strengthen RelationshipsSatisfy customers by ensuring account accuracy & resolving disputes rapidly.
  • Enhance VisibilityGet insights into cash that's likely to be received as well as your total receivables.
  • Accelerate DeductionsSpeed up your team’s deductions & dispute identification process.

SIMPLIFIED REMITTANCE MANAGEMENT

POWERED BY AI TECHNOLOGY

Inefficient remittance management not only drains your AR team’s time and labor, it has a direct impact on company revenue. That’s why Esker’s digital solution, powered by AI technologies, eliminates these costly bottlenecks through:

  • Email triage — extracting & routing remittances to the Cash Application solution
  • Intelligent data extraction — extracting remittance advice information (e.g., header data, invoice, credit lines, etc.)
  • Machine learning & teaching — extracting data from remittances & significantly speeding up cash allocation

3 Quick Steps

To Inject a Sustainable Cash Flow Management Culture Within Your Organisation

MATCHING MADE EASY

No remittance included? Not a problem. Esker’s Cash Application solution comes equipped with powerful AI technology that makes it easy to auto-allocate payments without remittances — freeing up time for your team and cashflow to your business.   

HOW IT WORKS

Esker’s AI Engine captures data from payment files and accurately extracts the necessary information (e.g., invoice number, customer name, PO, etc.). The solution analyses data in real time to always look for the best possible match; if several are possible, suggestions are provided to the user and can also create business rules to automate specific allocations or exceptions. Lastly, Esker’s solution also supports rapid reconciliation of payments with your ERP via native integrations or by extracting an output allocation file.

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HANDLE EXCEPTIONS & SHORT PAYMENTS WITHOUT HASSLE 

Simplify your cash application process with all payment information visible from one interface:

The road to rapid cash allocation can be a bumpy one due to obstacles like short payments, overpayments, discounts, claims, and more. Esker’s solution paves the way for an overall smoother, simpler, and smarter experience via our powerful AI technology and configurable rules to automate all types of exceptions.

SEE IT ALL, DO IT ALL FROM ONE INTERFACE
Even if user validation is necessary in the event of multiple allocations or complex exceptions, Esker ensures it has little to no impact on the speed of your process — enabling your team to access information and take action from a single interface. This can include viewing:

  • Extracted payment information & check/remittance image
  • Help messages & allocation suggestions via digital assistance
  • Open items details (e.g., invoices, claims, credits, etc.) via a direct link to customer accounts & tooltips 
  • Internal & external conversations
  • Quick action buttons to perform adjustment entries, skip or recycle payments, etc.

MONITOR INCOMING CASH ANYTIME

You can’t improve what you can’t see! Esker’s cloud solution empowers users by providing:

  • Centralised payment information
  • Clear KPIs on remaining cash to allocate
  • Output file reports to facilitate reconciliation into the ERP or share allocation statuses
  • Dedicated remittance automation trend dashboard to monitor & improve your automation rate
  • Graphs to monitor activity (e.g., auto-allocation status, remittance processing, allocation per user, etc.)
  • Workspace to easily navigate to your AR dashboard to view cash position (e.g., cash to collect, cash tied up in invoices not sent, etc.)

FREQUENTLY ASKED QUESTIONS ABOUT AUTO CASH APPLICATIONS

How do you automate the cash application process?

The cash application process is the final step in the Accounts Receivable cycle. It ensures that all customer payments are properly applied to the correct invoices. This can be done manually by a company's accounting department – with employees looking at each payment and applying it to the corresponding invoice – or automatically using software designed for this purpose. With auto cash application, the payments are matched up to the invoices electronically, eliminating the need for manual processing. This not only saves time, but also reduces the chance of human error. Esker’s Accounts Receivable software offers a smart way to increase efficiency and boost your business’ financial management.

What advantages will I see with Esker’s Accounts Receivable cash application software?

If you're looking for a way to improve your business's productivity and working capital, Esker’s auto cash application solution may be the solution you're looking for. Our software will essentially transform the way your staff work by automating many of the manual, time-consuming tasks that they currently have to do. This can free up time for them to focus on other tasks that are more important to your business. In addition, our AI-driven software can help to optimise your working capital by reducing costs, speeding up payments and securing revenue. As a result, you can see a more productive and efficient business overall.

Does Esker’s Accounts Receivable cash application software integrate with all ERPs?

Yes! With over 70 unique Enterprise Resource Planning (ERP) or home-grown solutions, Esker provides a best-in-class Accounts Receivable cash application software that helps businesses get paid faster and improve customer relationships. Our software integrates with any ERP system or business application, making it easy to get started. Once an invoice is validated in the ERP, it's quickly and securely transmitted to Esker for processing. From there, our AI-powered software takes over, reading and understanding the invoice data and extracting the key information.

Can Esker’s auto cash application support my global business?

Yes, it can! Designed to meet the needs of global organisations, our software's multi-site capability enables organisations to process invoices and payments in multiple currencies, while the multi-language support ensures that users can interface with the software in their native language. With Esker’s cloud-based software, teams can work together on cash application projects in real-time, no matter where they are located. Esker’s Accounts Receivable cash application solution is also scalable, so it can grow with your organisation as your business expands into new markets. 

To further reduce time spent on administrative tasks, you can also explore the possibilities of Esker’s collection management software, accounts payable system and order management platform.

“One significant change since implementing Esker’s solution is that the Banking Team is under much less pressure to complete payment allocations each day. They have more time to focus on their other duties and learn new tasks because Esker is saving us hours every day.”
Pamela Rochester │ Operational Team Leader | Laminex
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You’re in good company. Explore some of the other companies and AP leaders that have benefited from automating their processes with Esker.
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