Owing to the fast-paced nature of the modern-day business scenario, most businesses now send and receive invoices and payment receipts in digital formats such as scanned PDF images, text documents, or Excel-based invoice templates. This digital adoption has however, introduced a new challenge – extracting the data from these invoices and using it to produce and draw relevant insights.
QX ProAR is an end-to-end automation solution that solves this problem by automating the entire accounts receivable process. The solution captures digital remittance advices as input and extracts information which is useful for cash application. For any new invoice received, user can also configure with the system using quick steps. The automation solution also facilitates automation of the cash application process.
24/7 PROCESSING – TEMPLATE-BASED OCR ENGINE ALLOWS REAL-TIME EXTRACTION ACROSS FORMATS
BULK REMITTANCE UPLOAD AND MULTIPLE LINE EXTRACTION TO IMPROVE EFFICIENCY SIGNIFICANTLY
END-TO-END SOLUTION THAT COSTLY ERRORS ARISING OUT OF MANUAL PROCESSING
DELIVERING HIGHER ACCURACY THROUGH EXTRACTED DATA VERIFICATION & CORRECTION
INSIGHTFUL REPORTING – GENERATE BESPOKE REPORTS TO PROVIDE OVERALL VISIBILITY TO THE TOP MANAGEMENT
The system has an extremely simple and easy-to-understand interface. Additionally, the system is highly scalable in nature and can be easily configured as per growing business needs.
As the system is fully automated, it can work 24/7 – at any time of the day to enable seamless data extraction in almost real-time.
The system is capable of handling large volumes of data efficiently, perform advanced data mapping & transformations and create reusable extraction templates.
Automatically extracts the data in predefined format to create an accessible central data repository.
As the tool automates the same actions that were previously taken by human workers, it doesn’t require any major changes to the client’s existing systems.
Partner up with a GDPR compliant team to set up an end-to-end, secure accounts receivable function.