Product

VanguARd™

VanguARd™ is our automated cash application tool which fully automates the cash allocation process. It delivers accuracy and cost reduction objectives.

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Key features

Automated remittance data capture
Automatically escalate remittance exceptions
Works with payment advice in a wide variety of formats
Automatically apply cash at line item level
Easy detection and generation of deductions
Tracks earned and unearned discounts
Matching to bank payments which eliminates duplicate entry
Single interface to multiple systems
Process data from lockboxes and EDI
Automatic matching between bulk payments and detailed sales ledgers

1. Remittance match

The remittance match stage is a pre-processing routine to ensure all cash receipts are correlated to remittances. This allows AutoRek to use the highest quality of information in the downstream matching process. Where a remittance advice is missing, exceptions are escalated internally to the client.

2. Cash application

The AutoRek engine allocates cash items within defined business rules either directly to the accounts receivable ledger or using a remittance advice. Any differences between the expected accounts receivable items are classified by the system with appropriate reason codes.

3. Outputs

The system interfaces allocations to ERP systems, allowing receivable items to be closed and cash postings to be made. To provide you with a comprehensive view of the process, reports and dashboards show the automation vs manual rates, deductions taken, and customer reporting.

Rapid implementation with expertise by your side

Our in-house technical, industry and regulatory experts work with you to implement the solution, ensuring quick delivery and ROI.

As part of the onboarding process, our clients are assigned a dedicated customer success manager to answer your questions, receive any feedback and provide you with tailored service. You will also be allocated a member of our friendly Client Services team, who are on hand 24/7 to resolve any technical issues you may face.

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Solutions literature

VanguARd – automated cash allocation

Get ready to transform your reporting processes

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