AutoRek launches VanguARd
AutoRek has launched VanguARd - a new automated cash allocation tool. VanguARd reduces time spent on, and errors arising from, manually analysing remittances received and posting them to ledgers significantly improving the timeliness of cash applied to sales ledgers and the response to overdue receipts by credit control.
Issues with cash allocations
Cash allocation can be a timely process which can be hampered by poor quality remittance advices (either late or none) making sales ledger information weak and time consuming to interpret for robust and effective credit control.
How does VanguARd by AutoRek work?
As soon as data becomes available, often in bank systems overnight, VanguARd records direct receipts and matches them to paper or electronic remittance advices (when they arrive by email for example) even if they are not received on the same day. The data is then validated (e.g. invoice numbers and cash values) and applied to sales ledgers to match to unpaid invoices. At this point VanguARd will automatically acknowledge receipt to the client, raise queries on short payments, double payments or non-payments.
VanguARd will automatically produce accounting entries to write off currency differences as well as factoring and early settlement discounts. Full analysis of payment behaviours are retained for future pricing and credit limiting.
For more information on VanguARd or to arrange a free demo please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or call 0845 603 3613.
Download our whitepaper now on Cash Allocations