VanguARd™ from AutoRek is our automated cash allocation tool. VanguARd™ matches amounts received in the bank in any currency to any format of remittance advice, validates the values and automatically applies the cash to sales and debtors ledgers in order to match to unpaid invoices.
- Increased Automatic Cash Allocation Rates
- Scalable Solution Supporting Company Growth
- Reduction in Bad Debts and Improvement in Customer Relations
- Collections and Credit Control Alerts as Soon as Issues Arise
- Faster Cash Allocation and More Reliable Ledger Positions
- Supports any Format of Remittance Advice Including Paper
Our clients have saved hundreds of man-hours spent on intensive manual processes. At one of our clients, we handle 85% of receipts in respect of one of the world’s largest sales ledgers through automatic straight through processing.
VanguARd™ automatically applies direct debits received overnight, and electronic remittance advices as and when they are received. Instant alerts and notifications are generated to problematic invoices or accounts.
Our clients have saved hundreds of man-hours of effort spent on intensive manual processes. At one of our clients, we handle 85% of receipts in respect of one of the world’s largest sales ledgers through automatic straight through processing.
VanguARd™ provides the ability to trace and identify cash received into different bank accounts. VanguARd™ validates if the correct deductions have been applied for early settlement, and acknowledgements are automatically generated and sent to customers.
Our clients have the ability to instantly detect deductions and unfulfilled promises to pay, therefore refocusing efforts away from manual post processing of unmatched items. Chasers are automatically sent for unpaid older items, and a stop is put on accounts if any pre-set limits are breached.
Unallocated cash reduces, and the closure of ledgers at month end becomes a faster and more reliable process. Currencies are translated and any FX differences are posted directly to the corresponding ledger accounts.
As sales volumes increase, VanguARd™ mitigates against customers being contacted when they have already been paid, which in turn helps to sustain good customer relations and reputation.