The FIS Receivables GETPAID solution offers companies an integrated suite of order-to-cash management software with the unique ability to integrate cash pre-processing and application with collections, dispute resolution, credit risk management and electronic invoice payment. Indeed, within the GETPAID solution, the cash application component leverages Artificial Intelligence and Accelerated Machine Learning to improve first pass hit rates immediately.
The cash application component accepts receipt information from multiple sources such as BAI formatted lock box files, ACH files and MT940 Bank Statements. The system then accepts remittance details from lockbox files, EDI 820/812 remittance files, or customer web sites and “re-associates” the receipt with the remittance. After this automated step, the powerful rules engine is engaged for matching with the application of tolerance write-offs by reason code, automatically coding and routing of disputes or for placement in an exception queue for
Reduce Revenue Leakage By Automatically Detecting Deductions
Improve Hit Rates With Comprehensive Remittance Matching Policies
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