SAP Accounts Receivable Cash Application

Managing Exceptions in SAP Accounts Receivable for Fast Cash Application

Today, companies realize that Accounts Receivable is much more than just collecting what is owed. It has become a core business process. It is also a customer-facing process and can be the difference between customers who want to continue doing business with a company or start looking for other vendors.

An efficient cash application process is key. Technology is helping to streamline some traditional AR responsibilities   and allowing AR team members to do more important tasks. Many organizations with large volumes of incoming checks experience an all too common challenge for Accounts Receivable centers; that is, resolving discrepancies – deductions and short pays, for example – that occur when the amount of a remittance check is not directly applicable. Additionally, payment media continues to evolve as paper checks become a thing of the past. Biller direct processing is increasing while ACH payments swell email boxes with more manual remittance advices. Meanwhile, customer payment variances continue to grow in complexity and volume.

Dolphin’s Accounts Receivable solution suite, designed specifically for SAP applications, automates discrepancy management and provides visibility into the process. Its flexibility provides many options and document management is addressed seamlessly.

Accounts Receivable Process OptimizationCapture, Process and AnalyzeKey Capabilities of PTS-ARKey Benefits of Accounts Receivable Process Optimization

Overview

 

Automation and optimization of the Accounts Receivable (AR) function delivers tangible cost savings and cash flow enhancements. Risk against loss from deduction write-offs can also be mitigated by more timely and accurate administration of cash application and discrepancy management processes. Dolphin’s Process Tracking Solution for Accounts Receivable (PTS-AR) solution supports multiple receipt options, automates the cash application process, and facilitates exception handling, increasing the accuracy and efficiency of the AR function and improving cash flow and customer satisfaction.

accounts receivable automation and optimization

Capture, Process and Analyze

 

PTS-AR automates and optimizes the AR function from capture through processing and analysis.

Capture:

  • PTS-AR captures remittance & Check/ACH detail from bank or customer communication
  • OCR tools interpret, capture and validate data
  • Image is linked to data, data is used for automatic clearing processes

Process:

  • PTS-AR’s lockbox program processes checks and images together
  • Payment Advice is processed for ACH/EFT transactions
  • Pre-built workflows manage exceptions – simple or complex
  • Discrepancy Management toolset facilitates case management

Analyze:

  • PTS-AR’s centralized InfoCenter dashboard provides transparency into the AR process and current transaction status
  • Data and images can be easily retrieved across organization/process using the Document Navigator
  • Performance reporting and analytics enables continuous process improvement

accounts receivable optimization and cash application process chart

Key Capabilities of PTS-AR

 

Dolphin supports the busiest Accounts Receivable teams throughout the business process. Key capabilities of PTS-AR are described below.

table of accounts receivable optimization solutions and benefits

Key Benefits of PTS-AR

 

  • Increase Accuracy: Reduce errors and realize higher cash application match rates
  • Gain Efficiencies: Reduce manual data entry by 70% and improve cycle time and visibility for ALL payment methods
  • Deliver Greater Customer Satisfaction: Ensure timely, correct application and simplified exception handing
  • Improve Cash Flow: Lower bad debt write-offs by +20% and DSO reductions by +30%

For more information:

Accounts Receivable Cash Application Solution Sheet

Dolphin Accounts Receivable Process Optimization for SAP

White Paper

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