Cash application automation: how does your industry stack up?
Cash application is a critical aspect of cash flow management that directly impacts an organization's liquidity, working capital, and overall financial health. As businesses strive for greater efficiency and accuracy in their financial operations, the adoption of automation in cash application has become a game-changer.
But here's the thing: not all industries are created equal, and neither are their cash application processes. The challenges, nuances, and complexities vary significantly across sectors. That's why it's crucial to understand how automation rates differ and what best-in-class benchmarks are for each industry.
Same goes with automation. One size does not fit all when it comes to cash application automation. Each industry faces its unique challenges and solutions, making it essential to tailor automation solutions to specific industry needs.
Download this benchmark data and delve into some of these industry-specific challenges, as well as automation benchmarks.
Data for these industry benchmarks shall be defined as the automation rates observed prior to the implementation of Serrala FS² AutoBank. It is important to note that the benchmark automation rates were determined through internal calculations, acknowledging that these projections may occasionally differ slightly from real-world outcomes. These figures, however, represent the results obtained following a comprehensive workshop and rigorous data analysis.