Solutions / RemitTrac^® Solutions Suite / Receivables Matching

Receivables Matching

WHAT IS RECEIVABLES MATCHING?

You already know that fewer exceptions mean fewer errors, lower costs, and more satisfied customers. ImageScan’s Receivables Matching feature helps eliminate exceptions by comparing incoming payments with the real accounts receivable from your end customers.

By comparing every payment with a customer’s balances due and account numbers, Receivables Matching reduces error rates and delays in applying and depositing funds. In addition, since the receivables file can include instructions on processing rules and destination accounts for each expected payment, you further reduce errors and increase customer satisfaction.

HOW DOES RECEIVABLES MATCHING WORK?

ImageScan’s RemitTrac^® reads the data provided in each customer’s Accounts Receivables file collected It then automatically applies the dictated business rules and formulas to determine how the transaction is to be processed. This automated process eliminates the need to manually verify the customer’s rules and formulas.

EASY TO IMPLEMENT

A consistent theme in developing the Receivables Matching capability as with all other RemitTrac^® modules is to ensure flexibilty and ease of use. That is why you can make changes to this feature and tailor it to your process without outside assistance. We would rather give you the tools to help yourself than have you be reliant on someone else to do it for you.

WHY USE RECEIVABLES MATCHING?

Receivables Matching makes it effortless to ensure each payment is deposited into the appropriate account accurately and quickly. It also flexibility for customers, who can apply their own specific business rules to each expected payment to be processed.. That means sites can eliminate the manual process of contacting the end customer for verification, saving on labor costs and reducing errors.