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AlgoriQ - AI/ML Powered Cash Application
AlgoriQ is an AI-powered cash application automation software that uses machine-learning technology to auto-match and reconcile open invoices with payments received to your bank account.
With its 3-way match, straight-through reconciliation capability, finance teams reduce time spent on cash application by 85%-90% enabling them to focus on strategic projects rather than manual, onerous tasks. In addition, companies that use AlgoriQ optimize working capital by reducing Days Sales Outstanding, Days Deductions Outstanding, and unapplied cash on books.
Leveraging its machine-learning and Natural Language Processing (NLP) technology, AlgoriQ can read and understand data in any format or language. All of which, allows finance teams to resolve disputes efficiently and quickly as well as consolidate statements and balances across all Banks in a single view.
Finally, its in-depth analytics help companies prevent fraud and trigger AR health alerts. With its easy and quick implementation, AlgoriQ can be used globally and with any/multiple ERPs.
To learn more, please visit: www.globalpayex.com/algoriq/
Key features
- Automated Cash Application
- Straight-through reconciliation & ERP posting
- Automated data extraction from remittance & payment advice
- Deductions monitoring & dispute resolution workflows activation
- Unauthorized deductions detection and recovery
- AP Portal Connect - Automatically upload invoices & download remittance information from AP portals
About Global PayEx Inc
Global PayEX is one of the world’s leading Accounts Receivable automation solution providers. With AI-powered AR Automation tools like Electronic Invoicing, Presentment & Payments Management (customer portal), Cash Application, Embedded Channel Finance, and Machine-Learning Data Extraction, we enable companies to get paid faster, eliminate tedious manual AR work, and improve customers’ experience.
Born in the cloud, we are a JP Morgan backed SaaS company and have enabled finance teams of several Fortune 500 clients like Bridgestone, 3M, GSK, and Stanley Black & Decker to optimize working capital and remove inefficiencies from Accounts Receivable.
Our highly-configurable platform facilitates digital transformation for businesses, enhances revenue from 1% - 4%, and reduces DSO by 30% while delivering actionable insights to CFOs.
Global PayEX powers corporates and a network of over 25,000 SMBs to bring measurable value and unlock working capital efficiency.
For more information, visit: www.globalpayex.com
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