Increase efficiency by up to 75%
AI-Powered Cash Application Automation
Automate matching and applying any payment from any channel using our Cash Application solution. With 90% straight-through processing, you’ll save your AR team significant time while also accelerating cash flow.
Talk to an expert
In this 15-minute intro call, we’ll discuss your accounts receivable challenges and goals, so we can match you with the best possible solutions.
Capture data from multiple sources and channels
LESS MANUAL WORK
Automatically import everything from checks to credit cards to email attachments—plus much, much more. That way, your customers can pay however they’d like without creating extra work for you.
Let AI do the heavy lifting
FASTER ANALYSIS AND POSTING
Our document analyzer uses AI to read remittance data from emails, image scans, data files, and more. Plus, it gets more accurate every time it’s used. And whether it’s missing and illegible characters or multi-column or multi-page forms, Optical Character Recognition captures a wide variety of formats.
How Versapay’s Cash Application solution works
OCR image recognition captures and analyzes remittance data from detached payment information.
AI and machine learning automatically match payments to remittance advice and open invoices.
Payments are electronically deposited to your bank and synced with your ERP system.
Plus, when you use Versapay’s Collaborative AR tools, you can easily resolve any disputes automation alone can’t address.
The Ultimate Guide to Cash Application
Get this guide to learn:
- The steps in the cash application process
- The key challenges finance teams face
- How cash application automation can transform your AR department and make matching payments with open receivables simple
- Tips on selecting the right partner for your advanced cash application automation solution
Even more reasons to choose Versapay
TONS OF POWERFUL FEATURES
- Customize matching rules for a wide variety of formats and situations, including PO’s, over- and short-pays, multiple payments, and more.
- Route exceptions to the right team member and keep applications moving with integrated exception handling.
- Configure payment application rules and workflows for individual customers.
How real clients thrived with Cash Application
Madison Resources
“Because of less time spent manually processing payments, we’ve been able to focus on more strategic work and do more with the same—or even fewer—staff because we haven’t had to replace outgoing staff in some instances.”
Haas Door Company
“We feel strongly that Versapay helps us maintain a certain image — that we are a professional and efficient company to do business with.”
Carter Lumber
“Implementing Versapay was a win-win for us. Our peak days have been reduced from 2 1⁄2 days to less than a day. We were able to continue with our growth plans, improve our efficiency, and provide better customer service with no additions to our staff.”
