OCR Remittance Recognition

Leverage OCR to tackle TIF/PDF and Paper Based Remittance Advice

Within Europe and North America, a large number of remittance advice is still received in
hard copy of various shapes and sizes. Many A/R Departments manually record the payment
information and compare it against invoices in their ERP system.

North American Corporations use bank lockboxes to shorten their payment cycles by
leveraging geographically disbursed lockbox locations. Banks scan the received checks and
remittance advice into TIF or PDF image formats.

Cforia Software automates processing of TIF, PDF and paper remittances by using a
combination of OCR technology to extract the data and our Auto Matching Engine.


Eliminate manual keying of Excel Spreadsheet Files:

  • Leverage our mapping tool to directly process specific customer provided spreadsheet and
    delimited flat files.
  • Provide smaller customers with a pre-defined format that can be automatically processed.
  • Files can be automatically processed whenever FTP/SFTP uploaded into a hot folder or
    emailed to a dedicated email address.
  • Excel Spreadsheet Remittance Advice and ACH payments can be received in any order, days
    apart and can still be automatically matched.
  • Standard matching algorithms include combinations of the following reference data: invoice
    amount, invoice number, purchase order reference, sales order reference, discount amount
    and due date.
  • Auto Matching against entries in ERP GL and SD tables.
  • Find and replace incorrect customer numbers such as Purchase Orders, Sales Orders and AP
    system concatenated Invoice Numbers with the correct Invoice Number that will auto post into
    your ERP.
  • Auto code deductions, disputes, debits and credits.
  • Reconcile and approve a batch of cash for posting from a workstation that has optimized
    workflows prior to posting into the ERP.
  • Post into your ERP system via a BAI2 and flat file formats or server side scripting. Supports
    multiple sites and ERP systems including SAP, Oracle, PeopleSoft, Baan, Lawson, JD Edwards,
    BPCS, MAPICS, Microsoft Dynamics NAV, QAD and many more.

Key Features:

  • TIF/PDF Lockbox Files
  • Paper Remittance Advice
  • Avoid BAI2 Bank Fees
  • Auto-Matching GL Entries
  • Auto-Matching SD Entries
  • Automatic Deductions Coding
  • Real-Time Data Integration

OCR Remittance Recognition

Testimonial
<< “We are processing
remittance files through
Cashbook from all our major
customers: Toyota, Honda,
Nissan and Mitsubishi. I have
been impressed with the ease of
use of Cashbook and processing
time has been reduced form 5
days to 1 day."

- Darka Rajevic
A/R Manager
Testimonial
Cash Application:

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