Cash Applications for Sales Ledger
VanguARd™ is our automated cash allocations tool. It takes any format of remittance advice, relates it to banked amounts and automatically applies it to sales and debtors ledgers.
This helps save our clients hundreds of man-hours of effort and ensures instant detection of deductions and unfulfilled promises to pay. At one of our clients, we handle 85% of one of the world's largest sales ledgers' receipts without the process touching human hands.
Accelerated Cash Allocation and Credit Control
VanguARd™ matches amounts received in the bank to paper and electronic remittances, validates the values and applies the cash to sales ledgers to match to unpaid invoices. This can be done as soon as the data becomes available so VanguARd™ can apply direct debits which are received overnight or electronic remittance advices when they arrive.
- VanguARd™ acknowledges receipt to the client
- Confirms the application of the cash
- Queries short payments and send chasers for unpaid older items
- Puts a stop on the account if any pre-set limits are breached
- Instant alerts to problematic invoices or accounts
- Validation of the correct deduction of early settlement discounts.
- Translate currencies and process currency difference to ledger automatically
- Reduced costs of sales ledger and credit control personnel
- Alerts on collections and credit control as soon as a problem arises
- A cleaner sales ledge, faster cash allocation and cleaner recoveries
- A reduction in bad debts and an improvement in customer relations
- Improved sales as confidence in the good payers increases
- Data collected by VanguARd™ is rated and ranked for clients and builds a history.
Find Out More
For more information, download VanguARd from AutoRek - Automating Cash Allocation or Schedule a VanguARd Demo.