With the Universe of Payments, Serrala offers end-to-end automation solutions for inbound and outbound payments with the flexibility of various deployment options, from on-premise in SAP and other ERPs to cloud and hybrid models. By breaking down silos and creating one seamless landscape of automated and digitized finance processes, you benefit from transparency on your cash and working capital, increased security as well as cost and time savings.
Today, we'll have a closer look at cash application which forms an important part of the Universe of Payments. One particular challenge for the cash application process remains: the many different forms in which information about inbound payments are received. Bank statements, remittance advices, lockboxes, checks, and increasingly, the statements of payment service providers all come in different shapes and sizes. Manual handling of these formats is very time-consuming, costly and prone to errors. Intelligent automation is therefore the key for achieving the efficiency you need, for reducing the days sales outstanding (DSO) and to optimize your working capital.
Serrala's innovative solutions for automating cash application match all incoming payments against open items and are able to handle a large variety of payment formats. With the fully SAP-integrated FS2 AutoBank solution, users achieve matching rates of up to 98 percent and minimize manual efforts by about 75 percent. DSO decreases by 50 percent or more. Look out for our new cloud-based and multi-ERP cash application solution Alevate CashApp that will be available this year.
Using robotic process automation and machine learning capabilities, Serrala's cash application solutions apply an intelligent self-learning logic that enables you to process even items that contain incomplete or incorrect payment data. Based on these intelligent features, FS² AutoBank automatically proposes next steps for posting, further accelerating the cash application process. Companies can easily incorporate this functionality into their existing IT platform with either FS² AutoBank, which can be installed directly into existing SAP systems, or our cloud-based solution Alevate CashApp, which is compatible with multiple ERP systems.
Find out how our customers have successfully automated their cash application, speeding up processes by reducing manual tasks. In our video Guy Thompson, Credit Risk Manager EMEA & China from SunChemical, explains the advantages of using - amongst others - our FS2 AutoBank solution.
In addition, learn more about ABB, a pioneering technology leader, and honored at this years' TMI Awards with a prestigious Corporate Recognition Award for Working Capital Management, using Serrala's FS2 AutoBank solution. Read our Success Story and find out how the ABB team is able to apply cash before breakfast by automating and centralizing processes.
We are happy to help you find the best solution for your cash application processes. Contact us.